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.

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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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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July 2010 California Median Home Prices

C.A.R. reports July median price increased 10.4 percent; home sales decreased 20.8 percent.

The year-over-year statewide median home price posted its ninth consecutive gain and seventh consecutive double-digit gain in July. The median price of an existing, single-family detached home in California during July 2010 was $314,850, a 10.4 percent increase from the revised $285,310 median for July 2009, C.A.R. reported. The July 2010 median price was up 0.9 percent compared with June’s $311,950 median price.

For the overall San Francisco Bay Area, the median price was $$$598,640, which is a 1.5% increase from prior month, and 52.2% higher than the same period last year.

Quick Facts:
* Existing, single-family home sales decreased 20.8 percent in July to a seasonally adjusted rate of 440,370 units on an annualized basis compared with July 2009.
* The statewide median price of an existing single-family home increased 10.4 percent in July to $314,850 compared with July 2009.
* C.A.R.’s Unsold Inventory Index rose to 5.8 months in July compared with 4.0 months in July 2009.
* Thirty-year fixed-mortgage interest rates averaged 4.56 percent during July 2010, compared with 5.22 percent in July 2009, according to Freddie Mac. Adjustable-mortgage interest rates averaged 3.73 percent in July 2010, compared with 4.82 percent in July 2009.
* The median number of days it took to sell a single-family home was 44.2 days in July 2010, compared with 39.9 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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June 2010 California Median Home Prices

C.A.R. reports June median price increased 13.6 percent; home sales decreased 4.2 percent.

The median price of an existing, single-family detached home in California during June 2010 was $311,950, a 13.6 percent increase from the revised $274,640 median for June 2009, C.A.R. reported. The June 2010 median price decreased 3.8 percent compared with May’s $324,430 median price.

For the overall San Francisco Bay Area, the median price was $$$598,640, which is a 1% increase from prior month, and 16.3% higher than the same period last year.

Quick Facts:
* Existing, single-family home sales decreased 4.2 percent in June to a seasonally adjusted rate of 492,800 units on an annualized basis compared with June 2009.
* The statewide median price of an existing single-family home increased 13.6 percent in June to $311,950 compared with June 2009.
* C.A.R.’s Unsold Inventory Index rose to 4.8 months in June compared with 4.2 months in June 2009.
* Thirty-year fixed-mortgage interest rates averaged 4.74 percent during June 2010, compared with 5.42 percent in June 2009, according to Freddie Mac. Adjustable-mortgage interest rates averaged 3.86 percent in June 2010, compared with 4.93 percent in June 2009.
* The median number of days it took to sell a single-family home was 43.3 days in June 2010, compared with 44.3 days (revised) 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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May 2010 California Median Home Prices

C.A.R. reports May median price increased 23.2 percent; home sales increased 1.2 percent.

The median price of an existing, single-family detached home in California during May 2010 was $324,430, a 23.2 percent increase from the revised $263,440 median for May 2009, C.A.R. reported. The May 2010 median price increased 5.9 percent compared with April’s $306,230 median price.

For the overall San Francisco Bay Area, the median price was $$592,930, which is a 1.2% increase from prior month, and 29% higher than the same period last year.

Quick Facts:
Existing, single-family home sales increased 1.2 percent in May to a seasonally adjusted rate of 552,800 units on an annualized basis compared with May 2009.

. The statewide median price of an existing single-family home increased 23.2 percent in May to $324,430, compared with May 2009.

. C.A.R.’s Unsold Inventory Index remained unchanged at 4.6 months in May.

. Thirty-year fixed-mortgage interest rates averaged 4.89 percent during May 2010, compared with 4.86 percent in May 2009, according to Freddie Mac. Adjustable- mortgage interest rates averaged 4.01 percent in May 2010, compared with 4.75 percent in May 2009.

. The median number of days it took to sell a single-family home was 39.8 days in May 2010, compared with 52.4 days (revised) 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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April 2010 California Median Home Prices

C.A.R. reports April median price increased 21 percent; home sales decreased 8.1 percent.

The median price of an existing, single-family detached home in California during April 2010 was $306,230, a 21 percent increase from the revised $253,110 median for April 2009, C.A.R. reported. The April 2010 median price increased 1.5 percent compared with March’s $301,790 median price.

For the overall San Francisco Bay Area, the median price was $$583,280, which is a 7.2% increase from prior month, and 32.3% higher than the same period last year.

Quick Facts:
• Existing, single-family home sales decreased 8.1 percent in April to a seasonally adjusted rate of 483,830 units on an annualized basis compared with April 2009.

• The statewide median price of an existing single-family home increased 21 percent in April to $306,230, compared with April 2009.

• C.A.R.’s Unsold Inventory Index rose to 5.1 months in April, compared with five months in April 2009.

• Thirty-year fixed-mortgage interest rates averaged 5.10 percent during April 2010, compared with 4.81 percent in April 2009, according to Freddie Mac. Adjustable-mortgage interest rates averaged 4.16 percent in April 2010, compared with 4.82 percent in April 2009.

• The median number of days it took to sell a single-family home was 39.4 days in April 2010, compared with 48.1 days (revised) 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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