C.A.R. reports October home sales increased 1 percent; median home price declined 3.2 percent compared to same period last year.
The median price of an existing, single-family detached home in California during October 2009 was $297,500, a 3.2 percent decrease from the revised $307,210 median for October 2008, C.A.R. reported. The October 2009 median price rose 0.3 percent compared with September’s $296,610 median price.
For the overall San Francisco Bay Area, the median price was $551,090, which is a 2.8% increase from prior month, and 5.8% higher than the same period last year.
Quick Facts:
- Existing, single-family home sales increased 1 percent in October to a seasonally adjusted rate of 562,400 units on an annualized basis.
- The statewide median price of an existing single-family home increased 0.3 percent in October to $297,500, compared with September 2009.
- C.A.R.’s Unsold Inventory Index fell to 4 months in October, compared with 6.1 months in October 2008.
- Thirty-year fixed-mortgage interest rates averaged 4.95 percent during October 2009, compared with 6.20 percent in October 2008, according to Freddie Mac. Adjustable-mortgage interest rates averaged 4.55 percent in October 2009, compared with 5.21 percent in October 2008.
- The median number of days it took to sell a single-family home was 34.1 days in October 2009, compared with 45.5 days (revised) for the same period a year ago.
Clicks here 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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