Home sales rebounded last month in Los Angeles County and across California, increasing on both a month-to-month and year-to- year basis, the California Association of Realtors announced Wednesday.
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Closed escrow sales of existing, single-family detached homes in Los Angeles County rose 20.9% over August's numbers, and were up 13.8% year-over- year.
Statewide, September sales were up 5% from the previous month, and 6.6% year-over-year.
In Orange County, sales dipped 2.1% in September from August, but were up 10.8% over September 2024.
"The housing market showed modest improvement in September, with both sales and prices up from a year ago," CAR Senior Vice President and Chief Economist Jordan Levine said in a statement. "Steady mortgage rates may give demand a small boost heading into the fourth quarter, but broader economic uncertainty -- like the ongoing government shutdown and renewed U.S.-China trade tensions -- will likely keep the recovery gradual."
The sales numbers reported by CAR are on a seasonally adjusted annualized rate, adjusted to account for seasonal factors that typically influence home sales.
The median selling price of an existing, single-family home in California dropped 1.7% in September to $883,640, but that was still 1.8% higher than last year's $868,150. The monthly decrease aligns with the long- term average decline of 1.8% between August and September, according to CAR.
In Los Angeles County, the median price was up 5.6% in September to $983,230, a 2.4% increase over September 2024.
Orange County's median price rose 1.2% in September to $1,401,250, 0.3% higher than last year.
The highest median price in California in September was San Mateo County's $2.15 million. The lowest was Trinity County's $210,000.
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