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.

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