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.


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