Homes Sales, Prices Increase in November

Strong demand continued to propel home prices and sales upward across California in November, according to the latest figures from the California Assn. of Realtors. Sales of existing homes rose 6.2% to a seasonably adjusted rate of 563,800 over the same month a year ago. The median home price statewide jumped to $251,760, up 15.2% from $218,540 last November. San Diego County led the Southland with an 18.6% increase to $280,490, according to the realty trade group. Los Angeles County prices rose 13.2% to $228,800; Orange County was up 12.4% to $322,670; and Riverside and San Bernardino counties rose 10.7% to $145,180. Los Altos Hills, in the San Francisco Bay Area, posted the highest median home price in October at $3.4 million. Beverly Hills, at $880,000, ranked eighth in the state.