Los Angeles County home sales drop 11% after $155,000 price jump from a year ago. Here’s from DQNews/CoreLogic’s report on closed transactions in May from Los Angeles County.

Sales: 7,800 existing and new residences sold — down 7% from April. May has average 6.1% gains since 1988 in a one-month period where transactions rose in 27 of the last 34 years.

Past 12 months? 83,833 Los Angeles County sales — up 21% above the previous 12 months and 9% above the 10-year average but 10-year average and 13% off the pace since 1988.

Prices: The countywide $775,000 median was up $155,000 or 25% — over 12 months. Over 10 years, gains averaged 9.2% annually. The latest 12-month gain ranks No. 13 of 389 periods since 1988. The latest median breaks the record of $750,000 set in March and April.

The median’s $155,000 increase equals $17.69 for each hour over 12 months.

Rates on a 30-year, fixed-rate mortgage averaged 3.03% in the three months ending in May vs. 3.33% a year earlier. That translates to 4% more buying power for house hunters.

At these rates, a buyer with 20% down would pay $2,625 a month on the $775,000 median sale vs. $2,180 on last year’s $620,000 median. So during the past year, the typical house payment became 20.4% pricier.

Homes sold averaged just eight days on the market in the Inland Empire; 10 days in Los Angeles and Orange counties, Zillow reported.

Orange County: 3,491 sold, up 113% in year. Median? record $895,000 — a 19% increase.

Riverside County: 4,358 sales, up 82% in year. Median? record $502,250 — a 23% increase.

San Bernardino County: 2,960 sold, up 61% in year. Median? $432,000 — a 17% increase.

San Diego County: 4,222 sales, up 82% in year. Median? record $725,000 — a 23% increase.

Ventura County: 1,125 sold, up 129% in year. Median? $701,500 — a 21% increase.