June 2009 California Median Home Prices

C.A.R. reports June home sales increased 20.1 percent, median home price declined 26.4 percent. The median price of an existing, single-family detached home in California during June 2009 was $274,740, a 26.4 percent decrease from the revised $373,100 median for June 2008, C.A.R. reported. The June 2009 median price rose 4.2 percent compared with May’s $263,600 median price.

For the overall San Francisco Bay Area, the median price was $514,650 which is a 11.9% increase from prior month, and 24% lower than the same period last year

Quick Facts:

· Existing, single-family home sales increased 20.1 percent in June to a seasonally adjusted rate of 514,110 on an annualized basis.
· The statewide median price of an existing single-family home increased 4.2 percent in June to $274,740, compared with May 2009.
· C.A.R.’s Unsold Inventory Index fell to 4.1 months in June, compared with 7.6 months in June 2008.
. Thirty-year fixed-mortgage interest rates averaged 5.42 percent during June 2009, compared with 6.32 percent in June 2008, according to Freddie Mac. Adjustable-mortgage interest rates averaged 4.93 percent in June 2009, compared with 5.15 percent in June 2008.

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.