Oct 2013 California Median Home Prices - $427,290 (California) & $679,640 (Bay Area)

The statewide median price of an existing, single-family detached home edged down 0.3 percent from September’s median price of $428,740 to $427,290 in October. October’s price was 25.3 percent higher than the revised $340,910 recorded in October 2012, marking the 16th straight month of double-digit annual gains.

For the overall San Francisco Bay Area, the median price was $679,640, which is 1.1% lower than prior month's $687,260 ,and 14.6% higher than the same period last year of $593,080.

Other key facts of C.A.R.’s October 2013 resale housing report include:

• The available supply of existing, single-family detached homes for sale dipped in October to 3.4 months, down from September’s Unsold Inventory Index of 3.6 months. The index was 3.1 months in October 2012. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate. A six- to seven-month supply is considered typical in a normal market.

• The median number of days it took to sell a single-family home also increased to 33.1 days in October from 29.6 days in September, but was down from 38 days in October 2012.

• Mortgage rates declined in October, with the 30-year, fixed-mortgage interest rate averaging 4.19 percent, down from 4.49 percent in September but up from 3.38 percent in October 2012, according to Freddie Mac. Adjustable-mortgage interest rates in October averaged 2.63 percent, down from 2.67 in September but up from 2.59 percent in October 2012.

Click 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.
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Sep 2013 California Median Home Prices - $428,810 (California) & $687,260 (Bay Area)

The median home price declined in September for the first time since February but was still higher on a year-to-year basis. The statewide median price of an existing, single-family detached home was down 2.8 percent from August’s median price of $441,330 to $428,810 in September. September’s price was 24.4 percent higher than the revised $344,760 recorded in September 2012, marking the 15th straight month of double-digit annual gains.

For the overall San Francisco Bay Area, the median price was $687,260 , which is 2.5% lower than prior month's $704,830 ,and 24.0% higher than the same period last year of $554,450.

Other key facts of C.A.R.’s September 2013 resale housing report include:

• The available supply of existing, single-family detached homes for sale rose in September to 3.6 months, up from August’s Unsold Inventory Index of 3.1 months. The index was 3.7 months in September 2012. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate. A six- to seven-month supply is considered typical in a normal market.

• The median number of days it took to sell a single-family home also increased to 29.6 days in September from 28.8 days in August, but was down from a revised 39.2 days in September 2012.

• Mortgage rates have been on the rise for the past five months, with the 30-year, fixed-mortgage interest rate averaging 4.49 percent, up from 4.46 percent in August 2013 and up from 3.47 percent in September 2012, according to Freddie Mac. Adjustable-mortgage interest rates in September averaged 2.67 percent, up from 2.65 in August and up from 2.60 percent in September 2012.

Click 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.
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August 2013 California Median Home Prices - $441330 (California) & $704830 (Bay Area), Interest Rate continues rising in August

Home prices continued in an upward trend in August, reaching levels not seen in more than five years. The statewide median price of an existing, single-family detached home was up 1.7 percent from July’s median price of $433,910 to reach $441,330 in August, the highest price recorded since December 2007. August’s price was 28.4 percent higher than the revised $343,800 recorded in August 2012, marking a year and a half of annual price increases and the 14th straight month of double-digit annual gains.

For the overall San Francisco Bay Area, the median price was $704,830, which is 2.1% lower than prior month's $720,000 ,and 24.1% higher than the same period last year of $567,900.

Other key facts of C.A.R.’s August 2013 resale housing report include:

• The available supply of existing, single-family detached homes for sale inched up in August to 3.1 months, up from July’s Unsold Inventory Index of 2.9 months. The index was 3.2 months in August 2012. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate. A six- to seven-month supply is considered typical in a normal market.

• The median number of days it took to sell a single-family home also edged up to 28.8 days in August from 27.8 days in July, but was down from 41.1 days in August 2012.

• Mortgage rates moved higher in August, with the 30-year, fixed-mortgage interest rate averaging 4.46 percent, up from 4.37 percent in July 2013 and up from 3.60 percent in August 2012, according to Freddie Mac. Adjustable-mortgage interest rates in August averaged 2.65 percent, slightly down from 2.66 in July but down from 2.67 percent in August 2012.

Click 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.
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July 2013 California Median Home Prices - $433760 (California) & $720,000 (Bay Area), Interest Rate ticked up

The statewide median price of an existing, single-family detached home inched up 1.2 percent from June’s median price of $428,620 to $433,760 in July. July’s price was 29.8 percent higher than the revised $334,220 recorded in July 2012, marking 17 straight months of annual price increases and the 13th consecutive month of double-digit annual gains.

For the overall San Francisco Bay Area, the median price was $720,000, which is 1.1% higher than prior month's $712,030 ,and 24.2% higher than the same period last year of $579,540.

Other key facts of C.A.R.’s July 2013 resale housing report include:

• The available supply of existing, single-family detached homes for sale held steady in July at 2.9 months, unchanged from June’s Unsold Inventory Index. The index was 3.5 months in July 2012. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate. A six- to seven-month supply is considered typical in a normal market.

• The median number of days it took to sell a single-family home also held fairly steady at 27.8 days in July, compared to 27.7 days in June but was down from a revised 43.2 days in July 2012.

• Mortgage rates ticked up in July, with the 30-year, fixed-mortgage interest rate averaging 4.37 percent, up from 4.07 percent in June 2013 and up from 3.55 percent in July 2012, according to Freddie Mac. Adjustable-mortgage interest rates in July averaged 2.66 percent, up from 2.60 in June but down from 2.69 percent in July 2012.

Click 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.
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June 2013 California Median Home Prices - $428510 (California) & $712,030 (Bay Area), Interest Rate going up (4.07%)

The statewide median price of an existing, single-family detached home rose 2.7 percent from May’s revised median price of $417,350 to $428,510 in June. June’s price was up 33.5 percent from a revised $320,990 recorded in June 2012, marking 16 straight months of annual price increases and a full year of double-digit annual gains.

For the overall San Francisco Bay Area, the median price was $712,030, which is 1.1% lower than prior month's $719,610, and 23.3% higher than the same period last year of $577,640.

Other key facts of C.A.R.’s June 2013 resale housing report include:

• The available supply of homes for sale eased slightly in June, but was still down from a year ago. The June Unsold Inventory Index for existing, single-family detached homes was 2.9 months in June, up from 2.6 months in May, but down from 3.5 months in June 2012. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate. A six- to seven-month supply is typical in a normal market.

• Increased market competition has significantly driven down the time on market compared with a year ago. Homes sold in a median of 27.7 days in June after listing on the market, up slightly from 27.1 days in May, but down from 43.5 days in June 2012.

• Mortgage rates increased markedly during June, with the 30-year fixed-mortgage interest rate averaging 4.07 percent, up from 3.54 percent in May 2013, according to Freddie Mac. June marked the first time since October 2011 that the fixed-mortgage interest rate averaged above 4 percent. Adjustable-mortgage interest rates also increased but only slightly, averaging 2.60 percent in June, up from 2.55 percent in May, but down from 2.76 percent in June 2012.

Click 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.
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May 2013 California Median Home Prices - $417350(California) & $719,610 (Bay Area), Interest Rate going up to 4.54%

The statewide median price of an existing, single-family detached home rose 3.6 percent from April’s median price of $402,760 to $417,350 in May. May’s price was up 31.9 percent from a revised $316,460 recorded in May 2012, marking 15 straight months of annual price increases and the eleventh consecutive month of double-digit annual gains. The year-over-year price increase was the highest since at least 1980, when C.A.R. began tracking this statistic.

For the overall San Francisco Bay Area, the median price was $719,610 , which is 5.0% higher than prior month's $685,530 ,and 30.7% higher than the same period last year of $$550,400.

Other key facts of C.A.R.’s May 2013 resale housing report include:

· The available supply of homes for sale dipped in May, and was down markedly from a year ago. The May Unsold Inventory Index for existing, single-family detached homes was 2.6 months, down from 2.8 months in April, and down from a revised 3.6 months in May 2012. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate. A six- to seven-month supply is considered normal.

· Homes sold slightly more quickly in May, with the median number of days it took to sell a single-family home decreasing to 27.1 days in May, down from 27.9 days in April and down from a revised 45.7 days for the same period a year ago.

· Mortgage rates ticked up in May, with the 30-year fixed-mortgage interest rate averaging 3.54 percent, up from 3.45 percent in April 2013 but was down from 3.80 percent in May 2012, according to Freddie Mac. Adjustable-mortgage interest rates in May averaged 2.55 percent, down from 2.63 in April and down from 2.74 percent in May 2012.

Click 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.
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April 2013 California Median Home Prices- median price surpassing the $400,000-mark for the first time in five years

The statewide median price of an existing, single-family detached home climbed 6.3 percent from March’s revised median price of $378,960 to $402,760 in April, signaling the first time since April 2008 that the statewide median price has exceeded the $400,000 mark (and was the highest since then). April’s price was up 28.9 percent from a revised $312,500 recorded in April 2012, marking 14 straight months of annual price increases and the tenth consecutive month of double-digit annual gains.

For the overall San Francisco Bay Area, the median price was $685,530, which is 7.8% higher than prior month's $636,150 ,and 30.2% higher than the same period last year of $526,370.

Other key facts of C.A.R.’s April 2013 resale housing report include:

• The available supply of homes for sale was essentially unchanged from March, but was down markedly from a year ago. The April Unsold Inventory Index for existing, single-family detached homes was 2.8 months in April, down from 2.9 months in March, and down from 4.2 months in April 2012. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate. A six- to seven-month supply is considered normal.

• Increased market competition has significantly driven down the time on market compared with a year ago. Homes sold more quickly in April, with the median number of days it took to sell a single-family home decreasing to 27.9 days in April, down from 29.4 days in March and down from a revised 48 days for the same period a year ago.

• Mortgage rates dipped in April, with the 30-year fixed-mortgage interest rate averaging 3.45 percent, down from 3.57 percent in March 2013 and down from 3.91 percent in April 2012, according to Freddie Mac. Adjustable-mortgage interest rates were flat from March, averaging 2.63 percent in April, but down from 2.78 percent in April 2012.

Click 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.
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March 2013 California Median Home Prices - 13% Increase since Last Month

The statewide median price of an existing, single-family detached home climbed 13.7 percent from February’s $333,380 median price to $378,960 in March. The month-to-month increase was the highest since C.A.R. began tracking this statistic in 1979. The March price was up 28.2 percent from a revised $295,630 recorded in March 2012, marking the 13th consecutive month of annual price increases and the ninth consecutive month of double-digit annual gains.

For the overall San Francisco Bay Area, the median price was $636,150, which is 8.8% higher than prior month's $$584,430,and 33.0% higher than the same period last year of $478,330.

Other key facts of C.A.R.’s March 2013 resale housing report include:

• The available supply of homes for sale fell significantly in March, falling to a 2.9-month supply, as measured by C.A.R.’s Unsold Inventory Index. The March Unsold Inventory Index for existing, single-family detached homes was down from 3.6 months in February and down from 4.2 months in March 2012. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate. A six- to seven-month supply is considered normal.

• Mortgage rates edged up in March, with the 30-year fixed-mortgage interest rate averaging 3.57 percent, up from 3.53 percent in February but down from 3.95 percent in March 2012, according to Freddie Mac. Adjustable-mortgage interest rates also edged up, averaging 2.63 percent in March, up from 2.61 percent in February but down from 2.77 percent March 2012.

• Homes continued to move off the market faster in March, with the median number of days it took to sell a single-family home decreasing to 29.4 days in March, down from 34.2 days in February and down from a revised 52.2 days for the same period a year ago.

Click 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.
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Feb 2013 California Median Home Prices

The statewide median price of an existing, single-family detached home slipped 1 percent from January’s revised median price of $337,360 to $333,880 in February. February’s price was up 24.2 percent from a revised $268,810 recorded in February 2012, marking a full year of annual price increases and the eighth consecutive month of double-digit annual gains.

For the overall San Francisco Bay Area, the median price was $584,430, which is 6.5% higher than prior month's $548,890,and 33.3% higher than the same period last year of $438,280.

Other key facts of C.A.R.’s February 2013 resale housing report include:

• The available supply of homes for sale was essentially unchanged from January, but was down markedly from a year ago. The February Unsold Inventory Index for existing, single-family detached homes was 3.6 months in February, up from 3.5 months in January, but down from 5.4 months in February 2012. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate. A six- to seven-month supply is considered normal.

• Increased market competition has significantly driven down the time on market compared to a year ago. Homes sold more quickly in February, with the median number of days it took to sell a single-family home decreasing to 34.2 days in February, down from 36.6 days in January and down from a revised 57.4 days for the same period a year ago.

• Mortgage rates edged up in February, with the 30-year fixed-mortgage interest rate averaging 3.53 percent, up from 3.41 percent in January 2013 but down from 3.89 percent in February 2012, according to Freddie Mac. Adjustable-mortgage interest rates also edged up, averaging 2.61 percent in February, up from 2.58 percent in January but down from 2.78 percent February 2012.

Click 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.
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Jan 2013 California Median Home Prices

The statewide median price of an existing, single-family detached home fell 8.1 percent from December’s $366,930 median price to $337,040 in January. January’s price was up 24.1 percent from a revised $271,490 recorded in January 2012, marking the 11th consecutive month of annual price increases and the seventh consecutive month of double-digit annual gains.

For the overall San Francisco Bay Area, the median price was $548890, which is 8.2% lower than prior month's $598100,and 32.2% higher than the same period last year of $$415,120.

Other key facts of C.A.R.’s January 2013 resale housing report include:

• The available supply of homes for sale loosened in January, primarily as a result of fewer home sales. The January Unsold Inventory Index for existing, single-family detached homes rose to 3.5 months in January, up from 2.6 months in December, but down from a revised 5.8 months in January 2012. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate. A six- to seven-month supply is considered normal.

• Mortgage rates edged up in January, with the 30-year fixed-mortgage interest rate averaging 3.41 percent, up from 3.35 percent in December 2012 but down from 3.92 percent in January 2012, according to Freddie Mac. Adjustable-mortgage interest rates also edged up, averaging 2.58 percent in January, up from 2.54 percent in December but down from 2.76 percent January 2012.

• Homes moved off the market faster in January, with the median number of days it took to sell a single-family home decreasing to 36.6 days in January, down from 38.1 days in December and down from 59.6 days for the same period a year ago.

Click 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.
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Dec 2012 California Median Home Prices

he statewide median price of an existing, single-family detached home climbed 5 percent from November’s $349,300 median price to $366,930 in December. December’s price was up 27 percent from a revised $288,950 recorded in December 2011, marking the tenth consecutive month of annual price increases and the sixth consecutive month of double-digit annual gains. The substantial increase in price was due in large part to a significant increase of higher-priced properties, while inventory constraints continued to constrict sales of lower-priced homes.

For the overall San Francisco Bay Area, the median price was $598100, which is 1.6% higher than prior month's $588800,and 31.2% higher than the same period last year of $455750.

Other key facts of C.A.R.’s December 2012 resale housing report include:

• California’s housing inventory was further constrained in December, with the Unsold Inventory Index for existing, single-family detached homes dropping to 2.6 months, down from 3.1 months in November and a revised 4.3 months in December 2011. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate. A six- to seven-month supply is considered normal.

• The 30-year fixed-mortgage interest rate averaged 3.35 percent during December 2012, unchanged from November, but down from 3.96 percent in December 2011, according to Freddie Mac. However, adjustable-mortgage interest rates edged down in December, averaging 2.54 percent, down from 2.57 percent in November and down from 2.79 percent in December 2011.

• The median number of days it took to sell a single-family home edged up to 38.1 days in December 2012 from 37.5 days in November but was down from 58.7 days for the same period a year ago.

Click 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.

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