Riverside County home sales dip slightly in June

Home sales in Riverside County — which includes the Palm Springs area — dipped by 3.2 percent in June, compared to the same month a year ago, while prices rose by 3.3 percent, a real estate information service announced today.

A total of 3,832 homes changed hands locally last month, compared to 3,960 in June 2011, according to San Diego-based DataQuick. The median price of a home in Riverside County in June was $206,500, up from $200,000 in June 2011.

A total of 22,075 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in June,
according to DataQuick. That was down 0.5 percent from 22,192 in May, and up 7.5 percent from 20,532 in June 2011.

The median price for a Southern California home was $300,000 last month, up 1.7 percent from $295,000 in May and up 5.3 percent from $285,000 in June 2011.

“The June numbers look pretty good at first glance, but they’re more mixed when you scratch beneath the surface,” said John Walsh, DataQuick
president. “Yes, the median sale price rose again, but it’s clear this has a lot to do with changes in the types of homes selling, rather than across-the-
board price appreciation. Fewer of the homes selling now are foreclosures, while more are nice houses in mid- to higher-end neighborhoods.”