Telepeer

21 things to know about Southern California’s homebuying history

April 19, 2025

There have been innumerable ups and downs in the history of homebuying across Southern California.

The Southern California News Group will now be chronicling home sales and pricing swings using data from a new provider, Irvine-based Attom. The company tracks closed transactions for existing and new housing – single-family homes, condos and their combined totals – going back to 2005.

Please note that tallying home sales contains a lot of science and a little bit of art. Not every transaction has a simple buyer and seller with traditional financing – mortgage or cash. Deciphering the arms-length nature of each sale – and the value changing hands – is not always simple. That means Attom’s stats will slightly differ from our previous data providers: DataQuick, DQNews and CoreLogic, which recently renamed itself Cotality. Those reports are no longer produced.

Let’s glimpse into local homebuying patterns and extremes through our new statistics from Attom. My trusty spreadsheet found 21 things you need to know about the housing market’s gyrations since 2005 through February 2025 across the six-county region.

First, consider the price swings for all home sales …

1. Record high: $823,000 median sales price in May 2024. Compared to February 2025’s $820,000, we’re $3,000 off the peak.

2. Great Recession bottom: $241,000 in April 2009, so we’re 240% above that low.

3. 20-year price gain: The median home has appreciated 101% since February 2005.

4. Gains vs. losses: 79% of the months since 2005 have had year-over-year price increases.

5. Biggest 12-month gain since 2005: Up 28% in year ended June 2013.

6. Biggest 12-month loss: Down 39% in year ended January 2009.

Next, ponder how total sales activity has gyrated over 20 years for existing and newly built properties …

7. Average sales pace: 19,649 closed transactions a month over 20 years. So February 2025’s 11,966 total was 39% below the norm.

8. Busiest month of a typical year: It’s June. Since 2005, the 22,531 average sales are 15% above the norm.

9. Slowest month in a typical year: It’s January. Since 2005, the 15,496 average sales are 31% below par.

10. Fastest-selling single month since 2005: It’s 37,549 sales in June 2005.

11. Slowest-selling month: It’s 10,326 sales in January 2023.

Consider the big slice of the market, single-family houses – existing and newly built …

12. Record high median price: $875,000 in May 2024 and February 2025.

13. 20-year gain: Single-family homes have appreciated 105% since February 2005.

14. Average sales pace: 14,968 a month over 20 years. So February 2025’s 8,807 total was 41% below the norm.

15. Sales extremes of a typical year: Busiest month is June with 17,193 average sales vs. January the slowest at 11,874 sales.

Think about Southern California’s usual bargain, the condo – existing and newly built …

16. Record high median price: $700,000 in July 2024 and February 2025.

17. 20-year gain: Condos appreciated 94% since February 2005.

18. Average sales pace: 4,681 a month over 20 years. So February 2025’s 3,159 total was 33% below the norm.

19. Sales extremes of a typical year: Busiest month is June with 5,338 Slowest is January with 3,622 average sales.

Finally, let’s contrast condos to single-family homes.

20. Condo share of all sales: 24% average over 20 years vs. 26% in February 2025.

21. Condo vs. single-family pricing: Median is 16% cheaper on average since 2005 vs. 21% less expensive in February 2025.

Jonathan Lansner is a business columnist for the Southern California News Group. He can be reached at [email protected]

Orange County Register

News Details

21 things to know about Southern California’s homebuying history

Leave a Reply Cancel reply

News

CONTACT INFO

QUICK LINKS

SERVICES

CURRENT NEWS