As they do every month, Dataquick featured the L.A. Times Sunday Edition Charts tracking the resale activity of homes in Los Angeles County, Orange County, and other surrounding counties. Los Angeles county, as a whole, is seeing single family residences sell at prices 26.8% higher than September 2012. Condos are up 28.8%. This isn't surprising, as everyone knows the market is hot right now.
After looking at the chart though, it's apparent that a city can't be evaluated as a whole, let alone a county. It must be broken down by zip codes. For example, prices of single family homes in Old Torrance (90501) are staying pretty consistent to the prices of last September, while prices are up 16.3% in North Torrance (90504). Note: Don't faint when you see that condo prices are down 30.8% from last year in North Torrance. This number is based off of only 2 sales, which could have been short sales or bank-owned properties that tend to sell below market value. It's important to also look at the comparable homes that are selling in your area (within the last 3-6 months) to get the true picture of how your area is doing.
For more resale activity in Los Angeles county, as well as Orange County, click here.