C.A.R. reports May home sales increased 35.2 percent, median home price declined 30.4 percent. The median price of an existing, single-family detached home in California during May 2009 was $267,570, a 30.4 percent decrease from the revised $384,540 median for May 2008, C.A.R. reported. The May 2009 median price rose 4.2 percent compared with April’s $256,700 median price.
For the overall San Francisco Bay Area, the median price was $460k which is a 4.3% increase from prior month, and 33% lower than the same period last year
Quick Facts:
· Existing, single-family home sales increased 35.2 percent in May to a seasonally adjusted rate of 556,590 on an annualized basis.
· The statewide median price of an existing single-family home increased 4.2 percent in May to $267,570, compared with April 2009.
· C.A.R.’s Unsold Inventory Index fell to 4.2 months in May, compared with 8.7 months in May 2008.
. Thirty-year fixed-mortgage interest rates averaged 4.86 percent during May 2009, compared with 6.04 percent in May 2008, according to Freddie Mac. Adjustable-mortgage interest rates averaged 4.75 percent in May 2009, compared with 5.24 percent in May 2008.
. The median number of days it took to sell a single-family home was 53.5 days in May 2009, compared with 49.2 days (revised) for the same period a year ago.
Clicks links below for more analysis and summary of regional sales and price activity, as well as median price in each county and city.
If you are interested in finding out the median price and sales data for a particular neighborhood or city, please send me an email to meimei@calMBArealty.com to let me know.
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