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.

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