Tuesday , 19 September 2017
Nate's News

Real estate conditions in Chico California and the state

January California home sales, median price dip, C.A.R. reports

LOS ANGELES (Feb. 15) – California home sales declined from both the prior month and year in January, according to data from the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).  The median price also was lower, primarily due to a sales increase in the distressed market.

“Record low interest rates and favorable home prices continue to offer opportunities for potential home buyers,” said C.A.R. President LeFrancis Arnold.  “If the overall economy continues its recent upward trend, we should see an improvement in the housing market throughout the year.”

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 517,740 in January, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide.  January’s sales were down 0.6 percent from December’s 520,940 pace and down 5.7 percent from the revised 548,760 sales pace recorded in January 2011.  The statewide sales figure represents what would be the total number of homes sold during 2012 if sales maintained the January pace throughout the year.  It is adjusted to account for seasonal factors that typically influence home sales.

The statewide median price of an existing, single-family detached home fell to $268,280 in January, down 6.7 percent from $285,920 in December.  The median price also dropped 3.9 percent from the revised $279,220 median price recorded in January 2011.

“The decline in the January median home is largely a reflection of an increase in the share of distressed home sales,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “Seasonal factors in the non-distressed market also played a role in the softening of the median home price, as prices typically decline in the non-peak home buying season.”

Other key facts of C.A.R.’s January 2012 resale housing report include:

  • California’s housing inventory rose in January, with the Unsold Inventory Index for existing, single-family detached homes increasing to 5.5 months in January, up from 4.1 months in December but down from the 6.8-month supply in January 2011.  The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.
  • Interest rates continued their downward trend in January.  Thirty-year fixed-mortgage interest rates averaged 3.92 percent during January 2012, down from 4.76 percent in January 2011, according to Freddie Mac.  Adjustable-mortgage interest rates averaged 2.76 percent in January 2012, compared with 3.25 percent in January 2011.
  • The median number of days it took to sell a single-family home edged up to 61.9 days in January 2012 and was essentially unchanged from the 61.8 days for the same period a year ago.
  • View Unsold Inventory by price range.

Note:  The County MLS median price and sales data in the tables are generated from a survey of more than 90 associations of REALTORS® throughout the state, and represent statistics of existing single-family detached homes only.  County sales data are not adjusted to account for seasonal factors that can influence home sales.  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, as well as changes in the characteristics and the size of homes sold.  Due to the low sales volume in some areas, median price changes in December may exhibit unusual fluctuation.

Leading the way…® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States, with more than 155,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

# # #

January 2012 County Sales and Price Activity (Regional and condo sales data not seasonally adjusted)

Jan-12 Median price of existing single family homes Sales
State/ Region/ County Jan-12 Dec-11 Jan-11 MTM% Chg YTY% Chg MTM% Chg YTY% Chg
California Single-family
(SAAR)
$268,280 $285,920 $279,220 r -6.20% -3.90% -0.60% -5.70%
California Condo/ Townhomes $215,690 $225,270 $226,840 r -4.30% -4.90% -23.30% 1.20%
Los Angeles Metropolitan Area $256,000 $265,830 $268,940 -3.70% -4.80% -23.10% -1.80%
Inland Empire $169,280 $172,430 $173,720 -1.80% -2.60% - 20.00% 2.90%
San Francisco Bay Area $415,120 $455,750 $457,470 r -8.90% -9.30% -27.10% 4.40%
San Francisco Bay Area
Alameda $395,830 $450,000 $435,110 -12.00% -9.00% -26.40% 10.70%
Contra-Costa (Central County) $476,470 $518,560 $565,790 -8.10% -15.80% -40.20% 6.90%
Marin $694,440 $693,880 $657,890 0.10% 5.60% -11.60% 35.60%
Napa $344,740 $344,830 $313,890 0.00% 9.80% -18.80% 2.20%
San Francisco $561,270 $633,580 $597,760 -11.40% -6.10% -41.40% -20.10%
San Mateo $578,500 $595,000 $575,000 r -2.80% 0.60% -32.80% -3.60%
Santa Clara $495,000 $535,000 $524,000 r -7.50% -5.50% -26.50% -8.40%
Solano $184,440 $190,200 $192,170 -3.00% -4.00% -21.20% 19.70%
Sonoma $326,920 $325,260 $338,090 0.50% -3.30% -16.80% 26.20%
Southern California
Los Angeles $290,890 $306,950 $305,570 r -5.20% -4.80% -25.60% -5.90%
Orange County $483,510 $484,630 $511,590 -0.20% -5.50% -23.40% -4.90%
Riverside County $196,050 $203,650 $197,550 -3.70% -0.80% -21.40% 3.20%
San Bernardino $129,920 $128,450 $138,040 1.10% -5.90% -17.40% 2.50%
San Diego $350,680 $359,930 $370,100 -2.60% -5.20% -26.90% 15.00%
Ventura $386,870 $391,060 $411,760 -1.10% -6.00% -25.50% 5.10%
Central Coast
Monterey $280,000 $275,000 $251,850 r 1.80% 11.20% -23.10% -8.20%
San Luis Obispo $363,640 $366,670 $342,450 -0.80% 6.20% -37.50% -15.30%
Santa Barbara $356,000 $429,410 $362,500 r -17.10% -1.80% -19.80% 46.60%
Santa Cruz $422,500 $475,000 $425,000 -11.10% -0.60% -34.60% 10.60%
Central Valley
Fresno $131,070 $140,480 $136,020 -6.70% -3.60% -27.20% -2.30%
Kern (Bakersfield) $130,000 $135,000 r $127,000 -3.70% 2.40% -11.40% -4.00%
Kings County $145,710 $130,560 $147,140 11.60% -1.00% -21.00% 8.50%
Madera $113,750 $106,000 $146,150 7.30% -22.20% -24.40% -53.00%
Merced $112,000 $106,110 $100,620 5.60% 11.30% -28.70% -8.90%
Placer County $258,210 $255,560 $261,930 1.00% -1.40% -21.30% 3.50%
Sacramento $162,290 $162,820 $171,690 -0.30% -5.50% -22.80% 4.00%
San Benito $260,000 $259,200 $279,000 r 0.30% -6.80% -8.90% 8.50%
Tulare $116,670 $127,660 $113,330 -8.60% 2.90% -22.20% 16.70%
Other Counties in
California
Amador $135,000 $142,220 $160,000 -5.10% -15.60% -28.00% -10.00%
Butte County $194,000 $198,750 $180,000 -2.40% 7.80% -24.80% 27.40%
Humboldt $220,000 $227,630 $244,790 -3.40% -10.10% -20.90% -1.40%
Lake County $118,570 $114,170 $107,500 3.90% 10.30% -5.50% -6.80%
Tuolumne $147,140 $156,670 $153,750 -6.10% -4.30% -34.80% 28.60%
Mendocino $190,000 $204,170 $225,000 -6.90% -15.60% -28.80% -11.90%
Shasta $151,670 $148,570 $152,140 2.10% -0.30% -9.70% 33.10%
Siskiyou County $123,330 $131,250 $145,000 -6.00% -14.90% -30.80% 28.60%
Tehama $110,000 $132,000 $140,000 -16.70% -21.40% -26.10% 54.50%

 

January 2012 County Unsold Inventory and Time on Market (Regional and condo sales data not seasonally adjusted)

Jan-12 Unsold
Inventory Index
Median Time on
Market
State/ Region/ County Jan-12 Dec-11 Jan-11 Jan-12 Dec-11 Jan-11
California
Single-family
5.5 4.1 6.8 61.9 58.7 61.8
California Condo/ Townhomes 6.1 4.6 7.8 r 72.5 69.8 70.6 r
Los Angeles
Metropolitan Area
6.3 4.8 6.8 64.2 62.5 61.2 r
Inland Empire 5.7 4.4 6.4 56.5 54.6 51.6 r
San Francisco
Bay Area
4.5 3.3 6.2 r 73.9 64.8 69.6 r
San Francisco Bay Area
Alameda 4.3 2.9 6.1 98.5 82.5 88.2
Contra-Costa
(Central County)
5.2 2.8 7.1 97 87.9 103.7
Marin 5.2 4.7 6.4 83.1 83.8 92.7
Napa 6.3 5.8 8.3 87.9 80.3 85.7
San Francisco 6 NA 6.1 66.9 53.3 59.7
San Mateo 4.5 2.9 5.7 r 40.3 40.4 43.5 r
Santa Clara 3.8 2.6 4.8 37.7 32 44.6
Solano 3.8 3.9 7.1 62 48.3 58.7
Sonoma 4.9 4.7 7.9 101.1 81.9 81.8
Southern
California
Los Angeles 6.1 4.7 6.6 64 62.3 59.1 r
Orange County 8 5.8 8.5 r 78.4 81.5 82.9
Riverside County 6 4.5 6.5 59.3 57.1 57.1
San Bernardino 5.2 4.2 6.3 52.3 49.6 50.9
San Diego 7.1 5 9.4 62.6 61.8 59.6
Ventura 7.9 5.7 6.7 89.4 75.5 78.3
Central Coast
Monterey 5.7 4.2 6.6 r 46.7 48.4 45.1 r
San Luis Obispo 7 4.2 7.3 85.5 58 96.9
Santa Barbara 6.5 5 10.7 r 75.8 78 70.7
Santa Cruz 6.3 3.8 8 r 43.9 57.6 54
Central Valley
Fresno 4.6 3.2 NA 41 35 50.3
Kern (Bakersfield) 2.1 2.3 r 5.5 r NA NA NA
Kings County 4.6 3.7 6.4 49.8 77.7 56
Madera 5.6 3.8 8.3 35.8 51.5 58.2
Merced 5.3 3.8 6.2 41.5 37.4 35.8
Placer County NA NA NA NA NA NA
Sacramento 2 1.8 4 41.5 42 48.8
San Benito 3.4 3 6 r 52.8 51.1 44.1 r
Tulare 4.9 3.8 7.3 31.5 35.4 42.5
Other Counties   in California
Amador 7.7 5.6 7.1 91 91 95.8
Butte County 5.9 4.5 9.3 65.8 53.1 64.6
Humboldt 6.9 5.5 7.5 79.5 67.6 85.7
Lake County 6.8 6.4 8 104.1 111.9 121
Tuolumne 8.4 5.9 7.4 79.1 91 83.8
Mendocino 7.8 6.1 9 75.5 81.7 95.8
Shasta 5 4.6 8.9 48.3 47 74.9
Siskiyou County 11.4 8.3 NA 123.9 65.4 82.8 r
Tehama 7.3 5.7 13.8 78.4 70.7 69.3

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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. as of 9/19/17 8:29 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

This IDX solution is (c) Diverse Solutions 2017.