California Home Prices for April Posted May 31, 2011
LOS ANGELES -- California home sales declined in April, while home prices increased, according to data from the California Association of Realtors.
Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 499,830 units in April, according to information collected by C.A.R. from more than 90 local REALTOR associations and MLSs statewide. April home sales were down 2.9 percent from March but up 5 percent from the previous year. The statewide sales figure represents what would be the total number of homes sold during 2011 if sales maintained the April pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.
"An improving economy, coupled with the steady pace of distressed sales in the market and the typical seasonal pattern in the median home price, suggests the statewide median price has reached its low point for this year and is unlikely to hit the bottom reached in February 2009," said C.A.R. President Beth L. Peerce.
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.
"While down from March, April's sales level still was solid, posting the strongest year-over-year sales gain since August 2009," said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. "At this point in the cycle, the market seems to be responding to the fundamentals of the housing market and economy, and sales are on track to match or slightly exceed last year's figures."
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.
# # #
April 2011 County Sales And Price Activity - Existing Single-Family Detached Homes
April-11
Median Price of Existing Single-Family Homes
Sales
State/Region/County
Apr-11
Mar-11
Apr-10
MTM% Chg
YTY% Chg
Apr-10
MTM% Chg
YTY% Chg
CA SFH (SAAR)
$293,570
$286,510
r
$307,000
r
2.5%
-4.4%
476,150
-2.9%
5.0%
CA Condo/Townhomes
$238,220
$232,350
r
$257,950
r
2.5%
-7.6%
4,554
-4.3%
1.1%
Los Angeles Metropolitan Area
$277,300
$272,600
$284,060
1.7%
-2.4%
9,851
-2.9%
-7.6%
Inland Empire
$169,460
$172,730
$179,710
-1.9%
-5.7%
3,743
-6.0%
-5.2%
S.F. Bay Area
$490,670
$486,790
r
$538,270
r
0.8%
-8.8%
3,566
-3.2%
1.2%
S.F. Bay Area
Alameda
$452,140
$480,250
$478,170
-5.9%
-5.4%
535
-4.8%
7.9%
Contra-Costa (Central County)
$553,160
$567,310
$670,000
-2.5%
-17.4%
382
7.7%
-4.5%
Marin
$726,060
$826,700
$892,360
-12.2%
-18.6%
159
-19.2%
-10.1%
Napa
$306,820
$332,610
$343,750
-7.8%
-10.7%
91
0.0%
19.8%
San Francisco
$636,900
$679,770
$735,120
-6.3%
-13.4%
260
-0.7%
10.0%
San Mateo
$720,000
$695,000
$750,000
3.6%
-4.0%
355
-2.7%
3.4%
Santa Clara
$585,000
$561,500
$628,000
4.2%
-6.8%
993
4.3%
2.3%
Solano
$189,120
$193,480
$211,670
-2.3%
-10.7%
423
-14.0%
-5.7%
Sonoma
$332,650
$325,910
$365,140
2.1%
-8.9%
368
-12.0%
-6.0%
Southern California
Los Angeles
$290,120
$282,170
$289,710
r
2.8%
0.1%
4,162
-1.6%
-11.1%
Orange County
$530,140
$523,610
$546,050
r
1.2%
-2.9%
1,429
-4.7%
-8.4%
Riverside County
$199,230
$201,520
$209,530
-1.1%
-4.9%
2,401
-9.4%
-7.8%
San Bernardino
$128,900
$130,690
$138,220
-1.4%
-6.7%
1,342
0.4%
-0.4%
San Diego
$378,230
$383,620
$388,480
-1.4%
-2.6%
1,776
3.7%
4.8%
Ventura
$448,440
$443,920
$442,610
1.0%
1.3%
517
15.7%
5.4%
Central Coast
Monterey
$257,000
$260,000
$262,000
-1.2%
-1.9%
299
-12.3%
-14.4%
San Luis Obispo
$390,180
$362,700
$403,120
r
7.6%
-3.2%
203
1.7%
16.7%
Santa Barbara
$390,910
$422,730
$475,000
r
-7.5%
-17.7%
193
-14.6%
-11.9%
Santa Cruz
$448,500
$475,950
$557,650
-5.8%
-19.6%
116
-15.9%
19.0%
Central Valley
Fresno
$133,500
$138,120
$148,230
-3.3%
-9.9%
906
8.2%
7.6%
Kern (Bakersfield)
$126,500
$128,000
r
$136,250
-1.2%
-7.2%
594
8.2%
-0.2%
Kings County
$136,150
$137,270
$170,000
-0.8%
-19.9%
57
5.5%
35.1%
Madera
$135,380
$133,530
$145,830
1.4%
-7.2%
105
11.4%
-16.2%
Merced
$103,890
$115,290
$115,130
-9.9%
-9.8%
181
-9.1%
-17.7%
Placer County
$270,890
$253,750
$296,760
6.8%
-8.7%
379
-12.4%
11.3%
Sacramento
$170,270
$168,250
$188,100
1.2%
-9.5%
1,446
-12.8%
5.4%
San Benito
$263,000
$247,500
$333,000
6.3%
-21.0%
60
12.0%
-6.7%
Tulare
$111,600
$121,950
$132,630
-8.5%
-15.9%
276
-20.7%
0.0%
Other Counties in California
Amador
$130,000
$170,000
$170,000
-23.5%
-23.5%
26
0.0%
19.2%
Butte County
$217,050
$222,370
$238,000
-2.4%
-8.8%
94
15.7%
9.6%
Humboldt
$225,000
$250,000
$265,480
-10.0%
-15.2%
73
9.4%
-4.1%
Lake County
$98,330
$94,170
$126,000
4.4%
-22.0%
80
13.0%
8.7%
Mariposa And Tuolumne
$173,330
$154,440
$220,000
12.2%
-21.2%
72
-1.6%
-16.7%
Mendocino
$225,000
$192,500
$240,620
16.9%
-6.5%
45
-13.3%
-13.3%
Shasta
$153,330
$154,810
$171,330
-1.0%
-10.5%
161
5.5%
19.3%
Siskiyou County
$122,000
$112,500
$180,000
8.4%
-32.2%
26
6.1%
34.6%
Tehama
$110,000
$125,000
$146,670
-12.0%
-25.0%
30
41.2%
60.0%
* Los Angeles Metropolitan Area is a 5-county region that includes Los Angeles County, Orange
County, Riverside County, San Bernardino County, and Ventura County
* S.F. Bay Area has been redefined to include the following counties: Alameda, Contra Costa,
Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano, and Sonoma
* Inland Empire includes Riverside County and San Bernardino County
Regional/County sales data and condo sales data not seasonally adjusted.
The MLS median price and sales data for detached homes are generated from a survey of more than 90 associations of REALTORS® and MLSs throughout the state, representing 90 percent of the market. County sales data are not adjusted to account for seasonal factors that can influence home sales. MLS median price and sales data for condominiums are based on a survey of more than 60 associations. The median price for both detached homes an condominiums represents closed escrows. Movements in sales prices should not be interpreted as changes in the cost of a standard home. Median prices can be influenced by changes in cost and in the characteristics
and size of homes sold. Due to low sales volume in some areas, median price changes may exhibit unusual fluctuation. C.A.R. s data has been standardized to reflect county-level statistics.Links Search Jobs