Oct 2010 California Median Home Prices

The median price of an existing, single-family detached home sold in California during October was $304,220, down 1.8 percent from September’s $309,720 revised median price. October’s median price was up 2.3 percent from the $297,500 median price recorded for the same period a year ago, marking 12 consecutive months of year-over-year price gains.

For the overall San Francisco Bay Area, the median price was $585,830, which is a 4.0% increase from prior month, and 6.3% higher than the same period last year.

Quick Facts:

• C.A.R.’s Unsold Inventory Index for existing, single-family detached homes increased slightly to 6.5 months in October from 6.1 months in September. The index was 4.2 months in October 2009. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.

• Thirty-year fixed-mortgage interest rates averaged 4.23 percent during October 2010, compared with 4.95 percent in October 2009, according to Freddie Mac.
Adjustable-mortgage interest rates averaged 3.46 percent in October 2010, compared with 4.55 percent in October 2009.
• The median number of days it took to sell a single-family home was 53.4 days in October 2010 compared with 34.1 days 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.

Read more...

Sep 2010 California Median Home Prices

The median price of an existing, single-family detached home sold in California during September was $309,900, down 2.7 percent from August’s $318,660 median price. However, September’s median price was up 4.5 percent from the $296,610 median price recorded for the same period a year ago, marking 11 consecutive months of year-over-year price gains.

For the overall San Francisco Bay Area, the median price was $563,480, which is a 4.8% drop from prior month, and 5.8% higher than the same period last year.
Quick Facts:
• Contrary to the national picture, the housing supply in California has been below normal throughout 2010. C.A.R.’s Unsold Inventory Index for existing, single-family detached homes remained relatively unchanged in September at 6.2 months but was up from the 4.5 months recorded in September 2009. The index was 6.1 months in August. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.

• Thirty-year fixed-mortgage interest rates averaged 4.35 percent during September 2010, compared with 5.06 percent in September 2009, according to Freddie Mac. Adjustable-mortgage interest rates averaged 3.46 percent in September 2010, compared with 4.59 percent in September 2009.

• The median number of days it took to sell a single-family home was 52.5 days in September 2010 compared with 33.5 days for the same period a year ago.

“The inventory of homes priced under $500,000 continues to be lean, which is driving moderate or significant price appreciation in this price category,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “Conversely, the inventory of homes priced $1 million and higher is more than double the inventory of the under-$500,000 range, which is contributing to weaker prices at the high end,” she said.

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.


Read more...

August 2010 California Median Home Prices

California home sales edged up 1.8 percent from July, but were down 14.9 percent from August 2009. The statewide median home price also increased 1.2 percent from July and was up 8.6 percent from a year ago.

The statewide median home price posted its 10th consecutive year-over-year gain in August. The median price of an existing, single-family detached home sold in California during August 2010 was $318,660, an 8.6 percent increase from the revised $293,400 median price recorded in August 2009, C.A.R. reported. The August 2010 median price was up 1.2 percent compared with July’s $314,850 median price.

For the overall San Francisco Bay Area, the median price was $$591,990, which is a 2.6% drop from prior month, and 11.4% higher than the same period last year.

Quick Facts:
* C.A.R.’s Unsold Inventory Index for existing, single-family detached homes in August 2010 rose to 6.1 months compared with 4.6 months in August 2009. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.
* Thirty-year fixed-mortgage interest rates averaged 4.43 percent during August 2010 compared with 5.19 percent in August 2009, according to Freddie Mac. Adjustable-mortgage interest rates averaged 3.53 percent in August 2010 compared with 4.72 percent in August 2009.
* The median number of days it took to sell a single-family home was 47.1 days in August 2010 compared with 34.8 days 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.


Read more...

July 2010 California Median Home Prices

C.A.R. reports July median price increased 10.4 percent; home sales decreased 20.8 percent.

The year-over-year statewide median home price posted its ninth consecutive gain and seventh consecutive double-digit gain in July. The median price of an existing, single-family detached home in California during July 2010 was $314,850, a 10.4 percent increase from the revised $285,310 median for July 2009, C.A.R. reported. The July 2010 median price was up 0.9 percent compared with June’s $311,950 median price.

For the overall San Francisco Bay Area, the median price was $$$598,640, which is a 1.5% increase from prior month, and 52.2% higher than the same period last year.

Quick Facts:
* Existing, single-family home sales decreased 20.8 percent in July to a seasonally adjusted rate of 440,370 units on an annualized basis compared with July 2009.
* The statewide median price of an existing single-family home increased 10.4 percent in July to $314,850 compared with July 2009.
* C.A.R.’s Unsold Inventory Index rose to 5.8 months in July compared with 4.0 months in July 2009.
* Thirty-year fixed-mortgage interest rates averaged 4.56 percent during July 2010, compared with 5.22 percent in July 2009, according to Freddie Mac. Adjustable-mortgage interest rates averaged 3.73 percent in July 2010, compared with 4.82 percent in July 2009.
* The median number of days it took to sell a single-family home was 44.2 days in July 2010, compared with 39.9 days 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.

Read more...

June 2010 California Median Home Prices

C.A.R. reports June median price increased 13.6 percent; home sales decreased 4.2 percent.

The median price of an existing, single-family detached home in California during June 2010 was $311,950, a 13.6 percent increase from the revised $274,640 median for June 2009, C.A.R. reported. The June 2010 median price decreased 3.8 percent compared with May’s $324,430 median price.

For the overall San Francisco Bay Area, the median price was $$$598,640, which is a 1% increase from prior month, and 16.3% higher than the same period last year.

Quick Facts:
* Existing, single-family home sales decreased 4.2 percent in June to a seasonally adjusted rate of 492,800 units on an annualized basis compared with June 2009.
* The statewide median price of an existing single-family home increased 13.6 percent in June to $311,950 compared with June 2009.
* C.A.R.’s Unsold Inventory Index rose to 4.8 months in June compared with 4.2 months in June 2009.
* Thirty-year fixed-mortgage interest rates averaged 4.74 percent during June 2010, compared with 5.42 percent in June 2009, according to Freddie Mac. Adjustable-mortgage interest rates averaged 3.86 percent in June 2010, compared with 4.93 percent in June 2009.
* The median number of days it took to sell a single-family home was 43.3 days in June 2010, compared with 44.3 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.

Read more...

May 2010 California Median Home Prices

C.A.R. reports May median price increased 23.2 percent; home sales increased 1.2 percent.

The median price of an existing, single-family detached home in California during May 2010 was $324,430, a 23.2 percent increase from the revised $263,440 median for May 2009, C.A.R. reported. The May 2010 median price increased 5.9 percent compared with April’s $306,230 median price.

For the overall San Francisco Bay Area, the median price was $$592,930, which is a 1.2% increase from prior month, and 29% higher than the same period last year.

Quick Facts:
Existing, single-family home sales increased 1.2 percent in May to a seasonally adjusted rate of 552,800 units on an annualized basis compared with May 2009.

. The statewide median price of an existing single-family home increased 23.2 percent in May to $324,430, compared with May 2009.

. C.A.R.’s Unsold Inventory Index remained unchanged at 4.6 months in May.

. Thirty-year fixed-mortgage interest rates averaged 4.89 percent during May 2010, compared with 4.86 percent in May 2009, according to Freddie Mac. Adjustable- mortgage interest rates averaged 4.01 percent in May 2010, compared with 4.75 percent in May 2009.

. The median number of days it took to sell a single-family home was 39.8 days in May 2010, compared with 52.4 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.
Read more...

April 2010 California Median Home Prices

C.A.R. reports April median price increased 21 percent; home sales decreased 8.1 percent.

The median price of an existing, single-family detached home in California during April 2010 was $306,230, a 21 percent increase from the revised $253,110 median for April 2009, C.A.R. reported. The April 2010 median price increased 1.5 percent compared with March’s $301,790 median price.

For the overall San Francisco Bay Area, the median price was $$583,280, which is a 7.2% increase from prior month, and 32.3% higher than the same period last year.

Quick Facts:
• Existing, single-family home sales decreased 8.1 percent in April to a seasonally adjusted rate of 483,830 units on an annualized basis compared with April 2009.

• The statewide median price of an existing single-family home increased 21 percent in April to $306,230, compared with April 2009.

• C.A.R.’s Unsold Inventory Index rose to 5.1 months in April, compared with five months in April 2009.

• Thirty-year fixed-mortgage interest rates averaged 5.10 percent during April 2010, compared with 4.81 percent in April 2009, according to Freddie Mac. Adjustable-mortgage interest rates averaged 4.16 percent in April 2010, compared with 4.82 percent in April 2009.

• The median number of days it took to sell a single-family home was 39.4 days in April 2010, compared with 48.1 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.
Read more...

CA First Time Home Buyer Credit: Forms and Instructions

The 2010 New Home Credit and First-Time Buyer Credit begins May 1, 2010.

Click here for the form to use to apply.

Click here for detailed qualifications,instructions and up to date remaining funds available for claim.

Update 6/3/10:

Applications for First-Time Buyer Credit received as of 06/01/10

As of	Estimated Total First-Time Buyer Applications Received	57% of Estimated Requested Credit
05/04/10	430	$ 2,351,000
05/11/10	2,470	$ 13,283,000
05/18/10	4,830	$ 25,473,000
05/25/10	7,330	$ 38,357,000
06/01/10	9,760	$ 50,948,000

Read more...

March 2010 California Median Home Prices

C.A.R. reports March median price increased 20.8 percent; home sales increased 2.5 percent.

The median price of an existing, single-family detached home in California during March 2010 was $301,790, a 20.8 percent increase from the revised $249,790 median for March 2009, C.A.R. reported. The March 2010 median price increased 7.8 percent compared with February’s $279,840 median price.

For the overall San Francisco Bay Area, the median price was $544,120, which is a 5.1% increase from prior month, and 34.8% higher than the same period last year.

Quick Facts:
. Existing, single-family home sales increased 2.5 percent in March to a seasonally adjusted rate of 516,590 units on an annualized basis compared with March 2009.

. The statewide median price of an existing single-family home increased 20.8 percent in March to $301,790, compared with March 2009.

. C.A.R.’s Unsold Inventory Index for existing, single-family detached homes in March 2010 was 5 months, compared with 5.6 months (revised) for the same period a year ago. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.

· Thirty-year fixed-mortgage interest rates averaged 4.97 percent during March 2010, compared with 5 percent in March 2009, according to Freddie Mac. Adjustable-mortgage interest rates averaged 4.20 percent in March 2010, compared with 4.86 percent in March 2009.

. The median number of days it took to sell a single-family home was 39.2 days in March 2010,
compared with 48.5 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.
Read more...

Feb 2010 California Median Home Prices

C.A.R. reports February median price increased 14.1 percent; home sales decreased 11.7 percent.

The median price of an existing, single-family detached home in California during February 2010 was $279,840, a 14.1 percent increase from the revised $245,230 median for February 2009, C.A.R. reported. The February 2010 median price decreased 2.4 percent compared with January’s $286,600 median price.

For the overall San Francisco Bay Area, the median price was $517920, which is a 6.5% increase from prior month, and 29.8% higher than the same period last year.

Quick Facts:

· Existing, single-family home sales decreased 11.7 percent in February to a seasonally adjusted rate of 528,930 units on an annualized basis compared with February 2009.

· The statewide median price of an existing single-family home increased 14.1 percent in February to $279,840, compared with February 2009.

· C.A.R.’s Unsold Inventory Index fell to 6.3 months in February, compared with 7.1 months in
February 2009.

. Thirty-year fixed-mortgage interest rates averaged 4.99 percent during February 2010, compared with 5.13 percent in February 2009, according to Freddie Mac. Adjustable-mortgage interest rates averaged 4.23 percent in February 2010, compared with 4.87 percent in February 2009.

. The median number of days it took to sell a single-family home was 41.2 days in February 2010,compared with 51.4 days (revised) for the same period a year ago.

Probably the biggest news in March is that Gov. Schwarzenegger’s signing Homebuyer Tax Credit legislation into law. AB 183 will provide $200 million for home buyer tax credits, allocating $100 million for qualified first-time home buyers of existing homes and $100 million for purchasers of new, or previously unoccupied, homes. The eligible taxpayer who purchases a qualified personal residence on and after May 1, 2010, and on or before Dec. 31, 2010, or who purchases a qualified principal residence on and after Dec. 31, 2010, and before Aug. 1, 2011, pursuant to an enforceable contract executed on or before Dec. 31, 2010, will be able to take the allowed tax credit. The credit is equal to the lesser of 5 percent of the purchase price or $10,000, in equal installments over three consecutive years. Under AB 183, purchasers will be required to live in the home for at least two years or forfeit the credit (i.e., repay it to the state).

Because the Federal Tax credit of $8000 is still in effect now, for a limited time, qualified buyers who get into contract before April 30th and close after May 1st might receive double bonus of both the Federal and State tax credit, total up to $18000!

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.

Read more...

Jan 2010 California Median Home Prices

C.A.R. reports January median price increased 15 percent; home sales decreased 10.6 percent.

The median price of an existing, single-family detached home in California during January 2010 was $287,440, a 15 percent increase from the revised $249,960 median for January 2009, C.A.R. reported. The January 2010 median price decreased 6.3 percent compared with December’s $306,820 median price.

For the overall San Francisco Bay Area, the median price was $486190, which is a 9.3% decrease from prior month, and 20.7% higher than the same period last year.

Quick Facts:
- Existing, single-family home sales decreased 3 percent in January to a seasonally adjusted rate of 539,040 units on an annualized basis compared with December 2009.

- The median number of days it took to sell a single-family home was 33.8 days in January 2010, compared with 50 days (revised) for the same period a year ago.C.A.R.’s Unsold Inventory Index fell to 5.8 months in January, compared with 7.3 months in January 2009.

- Thirty-year fixed-mortgage interest rates averaged 5.03 percent during January 2010, compared with 5.05 percent in January 2009, according to Freddie Mac. Adjustable-mortgage interest rates averaged 4.33 percent in January 2010, compared with 4.92 percent in January 2009.

- C.A.R.’s Unsold Inventory Index fell to 5.8 months in January, compared with 7.3 months in January 2009.
- The median number of days it took to sell a single-family home was 33.8 days in January 2010, compared with 50 days (revised) for the same period a year ago.

“Many sales that closed escrow in January were on homes with offers accepted during the holiday season--a time when many house hunters are first-time buyers,” said C.A.R. President Steve Goddard. “First-time buyers typically purchase homes priced below an area’s median home price. Reflecting this, the percentage of homes priced under $500,000 increased to 77 percent of all sales in January, compared with 75 percent in December.

“Despite the year-to-year decline, sales remained above the 500,000 unit threshold for the 17th consecutive month, holding steady at pre-peak levels from early in the last decade,” said Goddard.

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.


Read more...

Dec 2009 California Median Home Prices

C.A.R. reports December home sales increased 1.7 percent; median home price increased 8.4 percent.

The median price of an existing, single-family detached home in California during December 2009 was $306,820, an 8.4 percent increase from the revised $283,060 median for December 2008, C.A.R. reported. The December 2009 median price rose 0.8 percent compared with November’s $304,520 median price.

For the overall San Francisco Bay Area, the median price was $536,070, which is a 5.5% decrease from prior month, and 15.5% higher than the same period last year.

Quick Facts:

· Existing, single-family home sales increased 4 percent in December to a seasonally adjusted rate of 558,320 units on an annualized basis.

· The statewide median price of an existing single-family home increased 0.8 percent in December to $306,820, compared with November 2009.

· C.A.R.’s Unsold Inventory Index fell to 3.8 months in December, compared with 5.6 months in December 2008.

. Thirty-year fixed-mortgage interest rates averaged 4.93 percent during December 2009, compared with 5.29 percent in December 2008, according to Freddie Mac. Adjustable-mortgage interest rates averaged 4.31 percent in December 2009, compared with 4.97 percent in December 2008.

. The median number of days it took to sell a single-family home was 35.3 days in December 2009, compared with 46.3 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.

Read more...

Nov 2009 California Median Home Prices

C.A.R. reports November home sales increased 4.7 percent; median home price increased 5.8 percent.

The median price of an existing, single-family detached home in California during November 2009 was $304,520, a 5.8 percent increase from the revised $287,880 median for November 2008, C.A.R. reported. The November 2009 median price rose 2.4 percent compared with October’s $297,500 median price.

For the overall San Francisco Bay Area, the median price was $567,250, which is a 2.9% increase from prior month, and 19.8% higher than the same period last year.

Quick Facts:
* Existing, single-family home sales increased 4.7 percent in November to a seasonally adjusted rate of 536,720 units on an annualized basis.

* The statewide median price of an existing single-family home increased 2.4 percent in November to $304,520 compared with October 2009.

* C.A.R.’s Unsold Inventory Index fell to 4.5 months in November, compared with 7.1 months in
November 2008.

* Thirty-year fixed-mortgage interest rates averaged 4.88 percent during November 2009, compared with 6.09 percent in November 2008, according to Freddie Mac. Adjustable-mortgage interest rates averaged 4.41 percent in November 2009, compared with 5.26 percent in November 2008.

* The median number of days it took to sell a single-family home was 33.1 days in November 2009, compared with 44.4 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.


Read more...