SAN BERNARDINO, Calif. (KNX) — San Bernardino County’s median home price hit a new record high in February, approaching a half million dollars.
Countywide, the median of $485,000 was up 2.1 percent in the month, and 17.7% up over the last year.
Eleven price records have been broken since February 2020, totaling a spike of $135,000.
Increases in San Bernardino County’s median track with the rest of the Southern California region. The median price regionally surpassed $700,000 in just 15 months. It now sits at $706,000 — up 3 percent for March 2022, and up 15 percent over the last year.
Low supply may be the main culprit in driving up prices in Southern California. According to Relator.com, L.A. and Orange County listings were down 34 percent this year. But in the Inland Empire, listing rose by six percent — possibly a symptom of buyers being priced out of the L.A. and O.C. markets.
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