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...
