Under A Minute Facts

Joe Perez — Fri, 04 Dec 2009 18:04:10 +0000

· 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.

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Under A Minute Facts