Dec 2013 California Median Home Prices - $438,040 (California) & $666,890 (Bay Area)

The statewide median price of an existing, single-family detached home rose 3.7 percent from November’s median price of $422,210 to $438,040 in December. December’s price was 19.7 percent higher than the revised $365,840 recorded in December 2012, marking a year and a half of double-digit annual gains and the first time in 15 months that the annual increase was below 20 percent. The median sales price is the point at which half of homes sold for more and half sold for less; it is influenced by the types of homes selling as well as a general change in values.

For the overall San Francisco Bay Area, the median price was $666,890, which is 4.9% lower than prior month's $700,980 ,and 11.5 % higher than the same period last year of $598,100.

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

• The available supply of existing, single-family detached homes for sale dropped in December to 3 months, down from November’s Unsold Inventory Index of 3.6 months. The index was 2.6 months in December 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 40.2 days in December, up from 36.7 days in November and from 38.1 days in December 2012.

• Mortgage rates rose in December, with the 30-year, fixed-mortgage interest rate averaging 4.46 percent, up from 4.26 percent in November and up from 3.35 percent in December 2012, according to Freddie Mac. Adjustable-mortgage interest rates in December averaged 2.56 percent, down from 2.61 in November but up from 2.54 percent in December 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.
Read more...

Nov 2013 California Median Home Prices - $422,210 (California) & $700,980 (Bay Area)

The statewide median price of an existing, single-family detached home slipped 1.2 percent from October’s median price of $427,290 to $422,210 in November. November’s price was 22.2 percent higher than the revised $345,560 recorded in November 2012, marking the 17th straight month of double-digit annual gains.

 For the overall San Francisco Bay Area, the median price was $700,980 which is 3.1% higher than prior month's $679,640 ,and 19.1 % higher than the same period last year of $588,800.

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

• The available supply of existing, single-family detached homes for sale edged up in November to 3.6 months, up from October’s Unsold Inventory Index of 3.4 months. The index was 3 months in November 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 36.7 days in November, up from 33.1 days in October, but was down from 37.5 days in November 2012.

• Mortgage rates rose in November, with the 30-year, fixed-mortgage interest rate averaging 4.26 percent, up from 4.19 percent in October and up from 3.35 percent in November 2012, according to Freddie Mac. Adjustable-mortgage interest rates in November averaged 2.61 percent, down from 2.63 in October and up from 2.57 percent in November 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.
Read more...

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.
Read more...

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.
Read more...

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.
Read more...

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.
Read more...

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.
Read more...

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.
Read more...

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.
Read more...

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.
Read more...

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.
Read more...

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.
Read more...

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.

Read more...

Nov 2012 California Median Home Prices

California median home price experiences highest year-to-year increase since June 2004.

The statewide median price of an existing, single-family detached home increased 2.3 percent from October’s $341,370 median price to $349,300 in November. November’s price was up 24.8 percent from a revised $279,910 recorded in November 2011, marking the ninth consecutive month of annual price increases and the fifth consecutive month of double-digit annual gains. The year-to-year percentage increase was the largest since June 2004.

For the overall San Francisco Bay Area, the median price was $588,800, which is 0.7% lower than prior month's $593,080,and 25.9% higher than the same period last year of $467,680.

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

• California’s housing inventory continued to be constrained in November, with the Unsold Inventory Index for existing, single-family detached homes maintaining its 3.1-months’ level. This is flat compared with the previous month, but down from November 2011, when the index was at 5.3 months. 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.

• Interest rates dipped further in November, with the 30-year fixed-mortgage interest rate averaging 3.35 percent during November 2012, down from 3.38 percent in October, and down from 3.99 percent in November 2011, according to Freddie Mac. Adjustable-mortgage interest rates also edged down in November, averaging 2.57 percent, down from 2.59 percent in October and down from 2.9 percent in November 2011.

• Homes continued to sell at a faster pace in November, with the median number of days it took to sell a single-family home falling to 37.5 days in November 2012 from 38 days in October and down from a revised 56.6 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.
Read more...

Sep 2012 California Median Home Prices

The statewide median price of an existing, single-family detached home inched up 0.3 percent from August’s $343,820 median price to $345,000 in September. The September figure was up 19.5 percent from a revised $288,700 recorded in September 2011, marking the seventh consecutive month of both month-to-month and year-to-year price increases. September’s median price was the highest since August 2008, when the median price was $352,730. The year-to-year increase was the largest since May 2010.

For the overall San Francisco Bay Area, the median price was $554,450, which is ２.４% lower than prior month's $567,900 ,and 15% higher than the same period last year of $482000.

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

* California’s housing inventory eased slightly in September, with the Unsold Inventory Index for existing, single-family detached homes edging up to 3.7 months, up from a revised 3.2 months in August and 5.3 months in September 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.

* Interest rates dipped in September after rising slightly in August. Thirty-year fixed-mortgage interest rates averaged 3.47 percent during September 2012, down from 3.60 percent in August, and down from 4.11 percent in September 2011, according to Freddie Mac. Adjustable-mortgage interest rates also edged down in September, averaging 2.60 percent, down from 2.67 percent in August and down from 2.84 percent in September 2011.

* Homes sold faster in September, with the median number of days it took to sell a single-family home falling to 39.3 days in September 2012 from 41.1 days in August and down from a revised 54.2 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.
Read more...

July 2012 California Median Home Prices

July marked the fifth consecutive month that California’s median home price was up from both the previous month and year Tweet this. The statewide median price of an existing, single-family detached home was $333,860 in July, up 4.2 percent from $320,540 in June and up 12.7 percent from a revised $296,160 in July 2011.

The July 2012 median price was the highest since August 2008, when the median price reached $352,730. July also marked the fourth straight month that the median price has posted above the $300,000 level.

For the overall San Francisco Bay Area, the median price was $579,540, which is 0.3% higher than prior month's $577,640 ,and 17.2% higher than the same period last year of $494,640.

Other key points of C.A.R.’s July 2012 resale housing report include:

* Closed escrow sales of existing, single-family detached homes reached a seasonally adjusted, annualized rate of 529,230 in July Tweet this, up 2 percent from June’s revised 518,680 rate.

*California’s housing inventory was essentially flat in July, with the Unsold Inventory Index for existing, single-family detached homes at 3.4 months in July Tweet this compared with 3.5 months in June. However, July’s housing inventory index was down from a revised 5.6-month supply in July 2011.

*Interest rates continued to remain at historically low levels in July, with 30-year fixed-mortgage interest rates averaging 3.55 percent, down from 3.68 percent in June and 4.55 percent in July 2011, according to Freddie Mac. Adjustable-mortgage interest rates averaged 2.69 percent in July, down from 2.76 percent in June and down from 2.97 percent in June 2011.

The median number of days it took to sell a single-family home edged down from 43.4 days in June to 43.2 days in July Tweet this. It took a median of 51.9 days for a home to sell in July 2011.

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.
Read more...

June 2012 California Median Home Prices

The statewide median price of an existing, single-family detached home was $320,540 in June. June’s price rose 1.3 percent from a revised $316,410 in May and 8.1 percent from a revised $296,410 recorded in June 2011. The June 2012 figure was 30.7 percent higher than the cyclical bottom of $245,230 reached in February 2009. The median price has posted above the $300,000 level for the third straight month after remaining below that mark for 15 months.

For the overall San Francisco Bay Area, the median price was $577,640, which is 4.9% higher than prior month's $550,400 , ,and 7.4% higher than the same period last year of $537,980.

Other key points of C.A.R.’s June 2012 resale housing report include:

• Closed escrow sales of existing, single-family detached homes in California declined 8.6 percent from May’s revised 567,330 to a seasonally adjusted annualized rate of 518,460 in June.

• California’s housing inventory remained flat in June, with the Unsold Inventory Index for existing, single-family detached homes remaining at 3.5 months in June, consistent with the inventory level reported in May. June’s housing inventory was down from a revised 5.1 months in June 2011. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate. A 7-month supply is considered normal.

• Interest rates continued their downward trend in June, with 30-year fixed-mortgage interest rates averaging 3.68 percent, down from 3.80 percent in May and 4.51 percent in June 2011, according to Freddie Mac. Adjustable-mortgage interest rates averaged 2.76 percent in June, up from 2.74 percent in May but lower than the 3-percent average rate reported in June 2011.

• Homes are moving faster on the market with the median number of days it takes to sell a single-family home dropping to 43.4 days in June, down from a revised 45.7 days in May and 50.4 days in June 2011.

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.


Read more...

April 2012 California Median Home Prices

The statewide median price of an existing, single-family detached home climbed 5.7 percent in April to $308,050, up from March’s revised $291,330 median price and 4.7 percent from a revised $294,140 recorded in April 2011. The median price rose above the $300,000 mark for the first time since December 2010.

For the overall San Francisco Bay Area, the median price was $526,370, which is 10% higher than prior month's $478,330, ,and 7.7% higher than the same period last year of $488,940.

Other key points of C.A.R.’s April 2012 resale housing report include:  
• California’s housing inventory remains low, with the Unsold Inventory Index for existing, single-family detached homes remaining at 4.2 months in April, unchanged from a revised 4.2 months in March.  April’s housing inventory was down from a revised 5.6 months in April 2011. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate. A 7-month supply is considered normal. 
 • Interest rates remained extremely low in April, with 30-year fixed-mortgage interest rates averaging 3.91 percent, down from 4.84 percent in April 2011, according to Freddie Mac. Adjustable-mortgage interest rates averaged 2.78 percent in April 2012, compared with 3.20 percent in April 2011. 
• The median number of days it took to sell a single-family home fell to 49.3 days in April 2012, down from a revised 53.2 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.
Read more...

March 2012 California Median Home Prices

The statewide median price of an existing, single-family detached home jumped 9.2 percent to $291,080 in March from February’s $266,660 median price and was up 1.6 percent from a revised $286,550 recorded in March 2011. The month-to-month increase was the largest since March 2004.

For the overall San Francisco Bay Area, the median price was $478,330, which is 9.1% higher than prior month's $438,280,and 1.6% lower than the same period last year of $$486,010.

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

 • California’s housing inventory declined in March, with the Unsold Inventory Index for existing, single-family detached homes decreasing to 4.1 months in March, down from a revised 5.4 months in February and down from the 5.4-month supply in March 2011. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate. A 7-month supply is considered normal.
  • Interest rates edged up slightly in March. Thirty-year fixed-mortgage interest rates averaged 3.95 percent during March 2012, down from 4.84 percent in March 2011, according to Freddie Mac. Adjustable-mortgage interest rates averaged 2.77 percent in March 2012, compared with 3.22 percent in March 2011. 
 • The median number of days it took to sell a single-family home fell to 53.1 days in March 2012 and was down from a revised 57 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.
Read more...

Feb 2012 California Median Home Prices

The statewide median price of an existing, single-family detached home dipped 0.6 percent to $266,660 in February from January’s $268,280 median price. The median price was down 1.7 percent from the revised $271,370 median price recorded in February 2011.

For the overall San Francisco Bay Area, the median price was $438,280, which is 5.6% higher than prior month's $415,120,and 1.3% lower than the same period last year of $443,880.

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


• California’s housing inventory declined in February, with the Unsold Inventory Index for existing, single-family detached homes decreasing to 5.3 months in February, down from a revised 5.7 months in January and down from the 7.5-month supply in February 2011. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.
• Interest rates fell to record lows again in February. Thirty-year fixed-mortgage interest rates averaged 3.89 percent during February 2012, down from 4.95 percent in February 2011, according to Freddie Mac. Adjustable-mortgage interest rates averaged 2.78 percent in February 2012, compared with 3.35 percent in February 2011.
• The median number of days it took to sell a single-family home fell to 58.9 days in February 2012 and was down from a revised 64.7 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. .

Read more...