April 2011 California Median Home Prices

California home sales decline in April; median home price increases .

The statewide median price of an existing, single-family detached home sold in California rose 2.5 percent in April to $293,570, up from a revised $286,510 in March. April’s median price was down 4.4 percent from the $307,000 recorded in April 2010.

For the overall San Francisco Bay Area, the median price was $490,670 , which is 0.8% higher from prior month's $486,790, and 8.8% lower than the same period last year of $538,270.

Here are other highlights of C.A.R.’s resale housing report for April 2011:

* The Unsold Inventory Index for existing, single-family detached homes was 5.4 months in April, down from 5.3 months in March, but up compared with April 2010’s 4.9-month supply. 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 4.84 percent during April 2011, down from 5.10 percent in April 2010, according to Freddie Mac. Adjustable-mortgage interest rates averaged 3.20 percent in April 2011, compared with 4.16 percent in April 2010.

*The median number of days it took to sell a single-family home was 53 days in April 2011, compared with 37.4 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.

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.