Thursday, November 16, 2006

DataQuick: California Sales Lowest Since 1997

by Bill McBride on 11/16/2006 02:58:00 PM

DataQuick reports: California October Home Sales

Click on graph for larger image.

A total of 42,750 new and resale houses and condos were sold statewide last month. That's up 0.7 percent from 42,450 for September and down 21.7 percent from a 54,600 for October 2005.

Last month's sales made for the slowest October since 1997 when 41,850 homes were sold.

The median price paid for a home last month was $467,000. That was up 0.2 percent from September's $466,000, and up 2.9 percent from $454,000 for October a year ago.
Although some areas are already seeing YoY nominal price declines (San Diego, Ventura, Contra Costa), the median YoY price in California increased slightly.