03 February 2011
Market Summary for January 2011
Our trend toward price increases, however slight, continued in January as the median price throughout Bodega Bay rose to $600,000 and the number of sales also rose slightly to 50 homes for the previous 12 months.
02 February 2011
Fast Facts for Feb 2
Fast Facts
Calif. median home price: December 2010: $301,850 (Source: C.A.R.)
Calif. highest median home price by C.A.R. region December 2010: Santa Barbara So. Coast $778,500 (Source: C.A.R.)
Calif. lowest median home price by C.A.R. region November 2010: High Desert $125,480 (Source: C.A.R.)
Calif. First-time Buyer Affordability Index - Third quarter 2010: 64 percent (Source: C.A.R.)
Mortgage rates: Week ending 1/27/2011 30-yr. fixed: 4.80 Fees/points: 0.7% 15-yr. fixed: 4.09% Fees/points: 0.7% 1-yr. adjustable: 3.26% Fees/points: 0.6% (Source: Freddie Mac)
In addition to the Affordability Index showing in at 64%, Trulia put together a Rent vs. Buy Index and showed that it's more affordable to buy a home in 72% of the 50 largest US cities.
Calif. median home price: December 2010: $301,850 (Source: C.A.R.)
Calif. highest median home price by C.A.R. region December 2010: Santa Barbara So. Coast $778,500 (Source: C.A.R.)
Calif. lowest median home price by C.A.R. region November 2010: High Desert $125,480 (Source: C.A.R.)
Calif. First-time Buyer Affordability Index - Third quarter 2010: 64 percent (Source: C.A.R.)
Mortgage rates: Week ending 1/27/2011 30-yr. fixed: 4.80 Fees/points: 0.7% 15-yr. fixed: 4.09% Fees/points: 0.7% 1-yr. adjustable: 3.26% Fees/points: 0.6% (Source: Freddie Mac)
In addition to the Affordability Index showing in at 64%, Trulia put together a Rent vs. Buy Index and showed that it's more affordable to buy a home in 72% of the 50 largest US cities.
California Homes at Seven-Month High, Sales Up
As we've seen with the activity rising locally, it appears to be stabilizing throughout the state and prices continue to creep upward. In addition, the Case-Shiller Index showed a small amount of growth, but mainly in California with three of four area with increasing prices (San Francisco, Los Angeles, San Diego and Washington, DC).
FROM THE CALIFORNIA ASSOCIATION OF REALTORS:
California home sales rose in December, posting their highest level since May, according to data from C.A.R. The statewide median price increased from November, but was down from a year ago.
“December’s sales increase reflects buyers taking advantage of rock bottom interest rates and improved affordability since the first half of the year, when prices were higher,” said C.A.R. President Beth L. Peerce. “Most of December’s sales opened escrow in October and November. Rates hit their absolute lowest in October but began edging higher in November, prompting buyers to get off the fence,” she said.
Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 520,680 in December. December’s sales were up 5.9 percent from November’s revised pace of 491,590 but were down 6.8 percent from the revised 558,840 sales pace recorded in December 2009.
Following three consecutive monthly declines, the median price of an existing, single-family detached home sold in California increased 1.7 percent from a revised $296,690 in November but was down 1.6 percent from the revised $306,860 median price recorded for the same period a year ago.
More info
FROM THE CALIFORNIA ASSOCIATION OF REALTORS:
California home sales rose in December, posting their highest level since May, according to data from C.A.R. The statewide median price increased from November, but was down from a year ago.
“December’s sales increase reflects buyers taking advantage of rock bottom interest rates and improved affordability since the first half of the year, when prices were higher,” said C.A.R. President Beth L. Peerce. “Most of December’s sales opened escrow in October and November. Rates hit their absolute lowest in October but began edging higher in November, prompting buyers to get off the fence,” she said.
Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 520,680 in December. December’s sales were up 5.9 percent from November’s revised pace of 491,590 but were down 6.8 percent from the revised 558,840 sales pace recorded in December 2009.
Following three consecutive monthly declines, the median price of an existing, single-family detached home sold in California increased 1.7 percent from a revised $296,690 in November but was down 1.6 percent from the revised $306,860 median price recorded for the same period a year ago.
More info
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