CoreLogic® has released its monthly residential Southern California home sales numbers for August 2024. This includes data for new and resale single-family homes and resale condominiums from six counties in the region: Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura.
“Home sales in late summer continued their lackluster trend, as mortgage rates jumped back up in the previous months,” says CoreLogic Chief Economist Dr. Selma Hepp. ”The slowdown in home sales activity reflects concerns about deteriorating affordability in light of high mortgage rates but also concerns about slowing in overall housing activity, which could be seen in more markets across the country this summer. At the same time, the growing inventory of homes for sale has helped put a lid on appreciation, which has cooled in recent months following acceleration earlier this year.”
Southern California August 2024 Median Sales Prices and Annual Changes
- The median sales price for all tracked properties in Southern California was $760,000 in August, a year-over-year increase of 3.4% for the region. All six counties in the region posted year-over-year home price gains: Orange (8.8%), Los Angeles (4.8%), Ventura (4.7%), San Diego (4.2%) and Riverside and San Bernardino (both 3%) counties.
- Orange County again posted the highest median sales price in Southern California, at $1.2 million, followed by Los Angeles and San Diego (both $875,000), Ventura ($858,500), Riverside ($577,000) and San Bernardino ($510,000) counties.
| County | Median Sales Price August 2023 | Median Sales Price August 2024 | Year-Over-Year Change |
| Los Angeles | $835,000 | $875,000 | 4.8% |
| Orange | $1,080,000 | $1,175,000 | 8.8% |
| Riverside | $560,000 | $577,000 | 3.0% |
| San Bernardino | $495,000 | $510,000 | 3.0% |
| San Diego | $840,000 | $875,000 | 4.2% |
| Ventura | $820,000 | $858,500 | 4.7% |
| Southern California Total | $735,000 | $760,000 | 3.4% |
Southern California August 2024 Home Sales Activity
- Southern California home sales volume declined by -2.7% from August 2023, with five of six counties posting annual losses.
- Riverside County posted the region’s only sales volume gain in August, at 5%. San Bernardino (-8.6%), Orange (-8.2%), Ventura (-5.3%), Los Angeles (-2.2%) and San Diego (-2%) counties all posted annual sales declines.
| County | Home Sales Volume August 2023 | Home Sales Volume August 2024 | Year-Over-Year Change |
| Los Angeles | 5,032 | 4,921 | -2.2% |
| Orange | 2,230 | 2,047 | -8.2% |
| Riverside | 2,936 | 3,084 | 5.0% |
| San Bernardino | 2,208 | 2,019 | -8.6% |
| San Diego | 2,615 | 2,564 | -2.0% |
| Ventura | 606 | 574 | -5.3% |
| Southern California Total | 15,627 | 15,209 | -2.7% |
Note: Data in this release is taken from county records and not from local multiple listing services.
Media Contact
Robin Wachner
CoreLogic
[email protected]
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