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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CA First Time Home Buyer Credit: Forms and Instructions

The 2010 New Home Credit and First-Time Buyer Credit begins May 1, 2010.

Click here for the form to use to apply.

Click here for detailed qualifications,instructions and up to date remaining funds available for claim.

Update 6/3/10:

Applications for First-Time Buyer Credit received as of 06/01/10

As of	Estimated Total First-Time Buyer Applications Received	57% of Estimated Requested Credit
05/04/10	430	$ 2,351,000
05/11/10	2,470	$ 13,283,000
05/18/10	4,830	$ 25,473,000
05/25/10	7,330	$ 38,357,000
06/01/10	9,760	$ 50,948,000

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March 2010 California Median Home Prices

C.A.R. reports March median price increased 20.8 percent; home sales increased 2.5 percent.

The median price of an existing, single-family detached home in California during March 2010 was $301,790, a 20.8 percent increase from the revised $249,790 median for March 2009, C.A.R. reported. The March 2010 median price increased 7.8 percent compared with February’s $279,840 median price.

For the overall San Francisco Bay Area, the median price was $544,120, which is a 5.1% increase from prior month, and 34.8% higher than the same period last year.

Quick Facts:
. Existing, single-family home sales increased 2.5 percent in March to a seasonally adjusted rate of 516,590 units on an annualized basis compared with March 2009.

. The statewide median price of an existing single-family home increased 20.8 percent in March to $301,790, compared with March 2009.

. C.A.R.’s Unsold Inventory Index for existing, single-family detached homes in March 2010 was 5 months, compared with 5.6 months (revised) for the same period a year ago. 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 4.97 percent during March 2010, compared with 5 percent in March 2009, according to Freddie Mac. Adjustable-mortgage interest rates averaged 4.20 percent in March 2010, compared with 4.86 percent in March 2009.

. The median number of days it took to sell a single-family home was 39.2 days in March 2010,
compared with 48.5 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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