C.A.R. reports California home sales rise in December, posting seven-month sales high. December’s sales were up 5.9 percent from November’s revised pace of 491,590 but were down 6.8 percent from the revised 558,840 sales pace recorded in December 2009.
The median price of an existing, single-family detached home sold in California during Nov was $$301,850 , up 1.7 percent from November’s $296,820 median price and down 1.6 percent from the revised $306,86 median price recorded for the same period a year ago.
For the overall San Francisco Bay Area, the median price was $537,520 , which is a 5.5% decrease from prior month, and 0.3% higher than the same period last year.
Quick Facts
* A greater than usual drop in listings combined with the sales increase caused C.A.R.’s Unsold Inventory Index to decline more than one month. The Unsold Inventory Index for existing, single-family detached homes was 5.0 months in December, down from 6.2 months in November. The index was 3.8 months in December 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 4.71 percent during December 2010, compared with 4.93 percent in December 2009, according to Freddie Mac. Adjustable-mortgage interest rates averaged 3.31 percent in December 2010, compared with 4.31 percent in December 2009.
* The median number of days it took to sell a single-family home was 57.5 days in December 2010, compared with 35.1 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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