WHAT WERE THE ACTUAL NUMBERS

The total number of sales in Southern California was 15,945. The overall median price was $320,000 which is up 20% from the $264,750 of a year ago for the same month. (February is the latest full month available for statistics). Orange County had total sales of 2,252 which was up in sales volume by 6.7%. However pricing was up overall 22.3% with the median overall hitting $477,000. Part of the reason for the large gain, however, is lost when you just look at statistics. Last year, 2012 saw mainly investors flipping houses and cashes buyers buying distressed properties to flip. The market was largely devoid of the upper end seller or buyer. They are now back in force and so some of the price hike should not be seen as a worrisome bubble, but rather a welcome addition to the real estate market of 2013. Every county posted sales volume gains of around 5% except the Inland Empire, which lost a little ground. Every So Cal county posted double-digit pricing gains.