Add a comment | Friday, December 4, 2009
· Existing, single-family home sales increased 1 percent in October to a seasonally adjusted rate of 562,400 units on an annualized basis.
· The statewide median price of an existing single-family home increased 0.3 percent in October to $297,500, compared with September 2009.
· C.A.R.’s Unsold Inventory Index fell to 4 months in October, compared with 6.1 months in October 2008.
. The median number of days it took to sell a single-family home was 34.1 days in October 2009, compared with 45.5 days (revised) for the same period a year ago.
. Statewide, the 10 cities with the highest median home prices in California during October 2009 were: Palo Alto, $1,639,550; Los Altos, $1,592,550; Manhattan Beach, $1,037,500; Cupertino, $1,030,000; Newport Beach, $935,000; Los Gatos, $920,000; Rancho Palos Verdes, $900,000; Santa Barbara, $897,500; Lafayette, $867,500; and Santa Monica, $786,000.
October 2009 Regional Sales and Price Activity*
Regional and Condo Sales Data Not Seasonally Adjusted
| Median Price | Percent Change in Price from Prior Month | Percent Change in Price from Prior Year | Percent Change in Sales from Prior Month | Percent Change in Sales from Prior Year | |||
| Oct-09 | Sep-09 | Oct-08 | Sep-09 | Oct-08 | |||
| Statewide | |||||||
| Calif. (sf) | $297,500 | 0.3% | -3.2% | 5.9% | 1.0% | ||
| Calif. (condo) | $267,520 | -1.0% | -3.6% | 5.5% | 9.4% | ||
| Santa Clara | $590,000 | 6.7% | 7.3% | -4.7% | 24.6% |
Median Prices By Region – Current Month vs. Year Ago
| Oct-09 | Sep-09 | Oct-08 | |||
| Statewide | |||||
| Calif. (sf) | $297,500 | $296,610 | r | $307,210 | r |
| Calif. (condo) | $267,520 | $270,170 | $277,590 | r |
| Santa Clara | $590,000 | $553,000 | $549,940 |
Source: CALIFORNIA ASSOCIATION OF REALTORS®
. Thirty-year fixed-mortgage interest rates averaged 4.95 percent during October 2009, compared with 6.20 percent in October 2008, according to Freddie Mac. Adjustable-mortgage interest rates averaged 4.55 percent in October 2009, compared with 5.21 percent in October 2008.
