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Median Home Price in LA County At 56-Month High in March

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DataQuick has crunched the numbers on March home sales in Southern California and finds that things continue to look up for sellers. The number of sales in LA County is up almost three percent over March 2012, but the median sales price is up 24.2 percent, to $380,000--the highest in more than four and a half years. In his statement with last month's numbers, DataQuick president John Walsh tried to calm overexcited market watchers, noting that prices still had a long way to go before recovering to the levels of the 2007 peak, but this month he seems to be a believer, saying "it's remarkable how much the housing scene has changed in a year." Other fun facts from the DataQuick release:

-- The number of houses and condos sold for more than $500,000 was up 40 percent regionwide in March from a year before, accounting for 27.2 percent of all homes sold. In February, such sales were 24 percent of the total.
-- Purchases by investors and cash buyers were still near the all-time high, but lower in March than in either of the previous two months.
-- Government-backed, low-downpayment FHA loans accounted for almost 23 percent of all new mortgages last month, down from 30 percent in March 2012.
· Southland Median Home Sale Price Climbs Again; Sales Rise Slightly Yr/Yr [DQ]
· State O' The Market Archives [Curbed LA]