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.
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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.
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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.

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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.
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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.
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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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