· 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.