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.
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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.


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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.
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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. .

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Jan 2012 California Median Home Prices

The statewide median price of an existing, single-family detached home fell to $268,280 in January, down 6.7 percent from $285,920 in December.  The median price also dropped 3.9 percent from the revised $279,220 median price recorded in January 2011.

For the overall San Francisco Bay Area, the median price was$415,120, which is 8.9% lower than prior month's $455,750,and 9.3% lower than the same period last year of 457,470.

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

* California’s housing inventory rose in January, with the Unsold Inventory Index for existing, single-family detached homes increasing to 5.5 months in January, up from 4.1 months in December but down from the 6.8-month supply in January 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 continued their downward trend in January. Thirty-year fixed-mortgage interest rates averaged 3.92 percent during January 2012, down from 4.76 percent in January 2011, according to Freddie Mac. Adjustable-mortgage interest rates averaged 2.76 percent in January 2012, compared with 3.25 percent in January 2011.
* The median number of days it took to sell a single-family home edged up to 61.9 days in January 2012 and was essentially unchanged from the 61.8 days for the same period a year ago.

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Oct 2011 California Median Home Prices

The October statewide median price of an existing, single-family detached home sold in California was $278,060, down 3.3 percent from $287,440 in September and down 8.9 percent from the $305,150 median price recorded for October 2010.

For the overall San Francisco Bay Area, the median price was$464,100, which is 3.72% lower than prior month's $482,010, and 14.4% lower than the same period last year of $542,260.

Other key facts of C.A.R.’s resale housing report for October 2011 include:

* The Unsold Inventory Index for existing, single-family detached homes was 5.3 months in October, up from 5.1 months in September but down from a revised 6.2-month supply in October 2010. 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 4.07 percent during October 2011, down from 4.23 percent in October 2010, according to Freddie Mac. Adjustable-mortgage interest rates averaged 2.92 percent in October 2011, compared with 3.36 percent in October 2010.

*The median number of days it took to sell a single-family home was 55.2 days in October 2011, compared with 51.5 days for the same period a year ago.

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Sep 2011 California Median Home Prices

The September statewide median price of an existing, single-family detached home sold in California was $287,440, down 3.2 percent from a revised $297,060 in August and down 8.3 percent from the $313,460 median price recorded for September 2010. 

For the overall San Francisco Bay Area, the median price was$482,010  , which is 3.2% lower than prior month's $498,190, and 7.5% lower than the same period last year of $521,180.

Other key facts of C.A.R.’s resale housing report for September 2011 include:

* The Unsold Inventory Index for existing, single-family detached homes was 5.1 months in September, essentially unchanged from 5.0 months in August but down from a revised 5.9 months in September 2010. 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 4.11 percent during September 2011, down from 4.35 percent in September 2010, according to Freddie Mac. Adjustable-mortgage interest rates averaged 2.84 percent in July 2011, compared with 3.46 percent in September 2010.

* The median number of days it took to sell a single-family home was 54.4 days in September 2011, compared with 50.3 days for the same period a year ago.

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August 2011 California Median Home Prices

California home sales posted an increase from both the previous month and previous year in August, while the median home price rose to its highest level this year, according to data from the CALIFORNIA ASSOCIATION OF REALTORS®.

The August statewide median price of an existing, single-family detached home sold in California was $297,060, up 1 percent from a revised $294,050 in July, but down 7.4 percent from the $320,860 median price recorded for August 2010.

For the overall San Francisco Bay Area, the median price was $498,190 , which is 0.7% higher than prior month's $494,640; and 9.2% lower than the same period last year of $548,610.

Other highlights of C.A.R.’s resale housing report for August 2011 include:

* The Unsold Inventory Index for existing, single-family detached homes was 5 months in August, down from 5.5 months in July and down from a revised 5.8 months in August 2010. 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 4.27 percent during August 2011, down from 4.43 percent in August 2010, according to Freddie Mac. Adjustable-mortgage interest rates averaged 2.93 percent in July 2011, compared with 3.53 percent in August 2010.

* The median number of days it took to sell a single-family home was 52.7 days in August 2011, compared with 45.5 days for the same period a year ago.

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July 2011 California Median Home Prices

The statewide median price of an existing, single-family detached home sold in California dipped 0.3 percent in July 2011 to $294,230 from a revised $295,210 in June. July’s median price was down 7.6 percent from the $318,550 recorded in July 2010.

For the overall San Francisco Bay Area, the median price was $$495,250 , which is 8.3% lower from prior month's $539,880 and 13.1% lower than the same period last year of $570,030 .

Other highlights of C.A.R.’s resale housing report for July 2011 include:

*The Unsold Inventory Index for existing, single-family detached homes was 5.5 months in July, up from 5.0 months in June, but essentially unchanged from July 2010’s 5.6-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 4.55 percent during July 2011, virtually unchanged from 4.56 percent in July 2010, according to Freddie Mac. Adjustable-mortgage interest rates averaged 2.97 percent in July 2011, compared with 3.73 percent in July 2010.

*The median number of days it took to sell a single-family home was 52.1 days in July 2011, compared with 42.4 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.

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June 2011 California Median Home Prices

California home sales edged up in June, and the median price rose to its highest level since December 2010, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported.

Closed escrow sales of existing, single-family detached homes in California rose 1.2 percent to a seasonally adjusted 477,710 units in June (up 1.2% from 471,840 units in May), according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. June home sales were down 3.6 percent from the 495,780 units sold in June 2010.

The statewide median price of an existing, single-family detached home sold in California rose 1.0 percent in June to $295,300 from a revised $292,420 in May. June’s median price was down 5.9 percent from the $313,890 recorded in June 2010.

For the overall San Francisco Bay Area, the median price was $539,880 , which is 5.4% higher from prior month's $512,420, and 2.4% lower than the same period last year of $553,360.

Other highlights of C.A.R.’s resale housing report for June 2011 include:

* The Unsold Inventory Index for existing, single-family detached homes was 5.0 months in June, down from 5.5 months in May, but up compared with June 2010’s 4.6-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 4.51 percent during June 2011, down from 4.74 percent in June 2010, according to Freddie Mac. Adjustable-mortgage interest rates averaged 3.0 percent in June 2011, compared with 3.86 percent in June 2010.

* The median number of days it took to sell a single-family home was 50.3 days in June 2011, compared with 41.5 days for the same period a year ago.

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May 2011 California Median Home Prices

A weak economy and tightened financing conditions contributed to a slowdown in California home sales and median price during May.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 471,840 units in May, May home sales were down 5.8 percent from April and down 14.4 percent from the previous year.

The statewide median price of an existing, single-family detached home sold in California edged down 0.7 percent in May to $291,760 from a revised $293,800 in April. May’s median price was down 10.9 percent from the $327,460 recorded in May 2010.

For the overall San Francisco Bay Area, the median price was $512,420 , which is 4.4% higher from prior month's $490,670, and 8.0% lower than the same period last year of $556,880.

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

- The Unsold Inventory Index for existing, single-family detached homes was 5.4 months in May, unchanged from April, but up compared with May 2010’s 4.5-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 4.64 percent during May 2011, down from 4.89 percent in May 2010, according to Freddie Mac. Adjustable-mortgage interest rates averaged 3.13 percent in May 2011, compared with 4.01 percent in May 2010.

-The median number of days it took to sell a single-family home was 51.8 days in May 2011, compared with 37.8 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.

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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.

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March 2011 California Median Home Prices

Favorable market conditions, economic improvement lead to increased home sales, higher median price.

The statewide median price of an existing, single-family detached home sold in California increased 5.4 percent in March compared with February to $286,010, but declined 4.9 percent compared with March 2010’s median price of $300,900.

For the overall San Francisco Bay Area, the median price was $487,060 , which is 9.7% higher from prior month's $444,020, and 2.4% lower than the same period last year.

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

# The Unsold Inventory Index for existing, single-family detached homes was 5.3 months in March, down from 7.3 months in February 2011, but up compared with March 2010’s 4.8-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 March 2011, compared with 4.97 percent in March 2010, according to Freddie Mac. Adjustable-mortgage interest rates averaged 3.22 percent in March 2011, compared with 4.20 percent in March 2010.

# The median number of days it took to sell a single-family home was 56.7 days in March 2011, compared with 37 days for the same period a year ago.

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Feb 2011 California Median Home Prices

California home sales decline in February as market adjusts to post-foreclosure freeze environment.

The statewide median price of an existing, single-family detached home sold in California was $271,320, down 2.8 percent from a revised $279,140 in January and was down 2.5 percent from the $278,190 median price recorded for February 2010. The February 2011 median price was the lowest since May 2009, when it was $263,440.

For the overall San Francisco Bay Area, the median price was $444,020 , which is a 3.0% decrease from prior month's $457,660, and 8.1% lower than the same period last year's $482,970.

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

# The Unsold Inventory Index for existing, single-family detached homes was 7.3 months in February, up from 6.7 months in January 2011. The index was 6.0 months in February 2010. 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 4.95 percent during February 2011, compared with 4.99 percent in February 2010, according to Freddie Mac. Adjustable-mortgage interest rates averaged 3.35 percent in February 2011, compared with 4.23 percent in February 2010.

# The median number of days it took to sell a single-family home was 64.4 days in February 2011, compared with 39.2 days for the same period a year ago.

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Jan 2011 California Median Home Prices

California home sales rose in January, marking three consecutive monthly increases and posting their highest level since May 2010, while the statewide median price declined to its lowest level since June 2009.

The statewide median price of an existing, single-family detached home sold in California was $278,900, down 8.6 percent from a revised $305,020 in December and was down 2.0 percent from the $284,600 median price recorded for January 2010. The January 2011 median price was the lowest since June 2009, when it was $274,640.

Quick Facts :

# The Unsold Inventory Index for existing, single-family detached homes was 6.7 months in January, up from 5.0 months in December 2010. The index was 5.7 months in January 2010. 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 4.76 percent during January 2011, compared with 5.03 percent in January 2010, according to Freddie Mac. Adjustable-mortgage interest rates averaged 3.25 percent in January 2011, compared with 4.33 percent in January 2010.
# The median number of days it took to sell a single-family home was 61.8 days in January 2011, compared with 32.9 days for the same period a year ago.

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Dec 2010 California Median Home Prices

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.

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Nov 2010 California Median Home Prices

The median price of an existing, single-family detached home sold in California during Nov was $296,820, down 2.4 percent from October’s $304,220 median price and down 2.5 percent from the revised $304,550 median price recorded for the same period a year ago. It was the first year-over-year price decline in a year.
For the overall San Francisco Bay Area, the median price was $553,620, which is a 5.5% decrease from prior month, and 2.4% lower than the same period last year.

Quick Facts
* C.A.R.’s Unsold Inventory Index for existing, single-family detached homes was 6.2 months in November, down from 6.5 months in October. The index was 4.5 months in November 2009. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.
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* Thirty-year fixed-mortgage interest rates averaged 4.3 percent during November 2010, compared with 4.88 percent in November 2009, according to Freddie Mac. Adjustable-mortgage interest rates averaged 3.25 percent in November 2010, compared with 4.41 percent in November 2009.
* The median number of days it took to sell a single-family home was 54.7 days in November 2010, compared with 33.1 days for the same period a year ago.

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Oct 2010 California Median Home Prices

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.

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Sep 2010 California Median Home Prices

The median price of an existing, single-family detached home sold in California during September was $309,900, down 2.7 percent from August’s $318,660 median price. However, September’s median price was up 4.5 percent from the $296,610 median price recorded for the same period a year ago, marking 11 consecutive months of year-over-year price gains.

For the overall San Francisco Bay Area, the median price was $563,480, which is a 4.8% drop from prior month, and 5.8% higher than the same period last year.
Quick Facts:
• Contrary to the national picture, the housing supply in California has been below normal throughout 2010. C.A.R.’s Unsold Inventory Index for existing, single-family detached homes remained relatively unchanged in September at 6.2 months but was up from the 4.5 months recorded in September 2009. The index was 6.1 months in August. 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 4.35 percent during September 2010, compared with 5.06 percent in September 2009, according to Freddie Mac. Adjustable-mortgage interest rates averaged 3.46 percent in September 2010, compared with 4.59 percent in September 2009.

• The median number of days it took to sell a single-family home was 52.5 days in September 2010 compared with 33.5 days for the same period a year ago.

“The inventory of homes priced under $500,000 continues to be lean, which is driving moderate or significant price appreciation in this price category,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “Conversely, the inventory of homes priced $1 million and higher is more than double the inventory of the under-$500,000 range, which is contributing to weaker prices at the high end,” she said.

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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August 2010 California Median Home Prices

California home sales edged up 1.8 percent from July, but were down 14.9 percent from August 2009. The statewide median home price also increased 1.2 percent from July and was up 8.6 percent from a year ago.

The statewide median home price posted its 10th consecutive year-over-year gain in August. The median price of an existing, single-family detached home sold in California during August 2010 was $318,660, an 8.6 percent increase from the revised $293,400 median price recorded in August 2009, C.A.R. reported. The August 2010 median price was up 1.2 percent compared with July’s $314,850 median price.

For the overall San Francisco Bay Area, the median price was $$591,990, which is a 2.6% drop from prior month, and 11.4% higher than the same period last year.

Quick Facts:
* C.A.R.’s Unsold Inventory Index for existing, single-family detached homes in August 2010 rose to 6.1 months compared with 4.6 months in August 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 4.43 percent during August 2010 compared with 5.19 percent in August 2009, according to Freddie Mac. Adjustable-mortgage interest rates averaged 3.53 percent in August 2010 compared with 4.72 percent in August 2009.
* The median number of days it took to sell a single-family home was 47.1 days in August 2010 compared with 34.8 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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