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.

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 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.

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 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.

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 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.

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 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.

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 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.

Clicks 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 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.

Clicks 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...