Market Data August 2009

Below, please find the latest market data for CA State for August.

Median Price Aug ’09: $292,960
Median Price Jul ’09: $285,480
Median Price Aug ’08: $352,730

As you can see above, there is quite a decrease in median price from the previous year but a near $7,500 increase from July of this year.

Change in Price vs. Prior Month: 2.6% , $7,480
Change in Price vs. Aug ’08: -16.9% , $-59,770

As indicated below, sales are still down month to month, however, sales are up 9% from a year ago. The decrease month to month is due to the limited available inventory because of a “shadow inventory” of foreclosures that banks are holding onto.

Change in Sales Prior Month: -5.1%
Change in Sales Prior Year: 9.0%

Source: California Association of Realtors: Research and Economics Department