The median price of a single-family home in Los Angeles County edged up 1% last month, but sales of existing homes dropped slightly, the California Association of Realtors reported this week.
The median home price countywide in May was $725,680, compared to $718,440 in April, according to CAR.
On a year-over-year level, the price was 31% higher; in May 2020, the median price of an existing single-family property was $553,710, data showed.
The median represents the point at which half of homes sell above a price, and the other half below it.
Keep in mind Inventory is expected to rise this summer. Do you think that will cause home prices to drop?
LA county median home prices 1% last month
