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.
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