May 2015 home sales and price report- taken from car.org 6-15-15
California home sales soften in May but spring home-buying season continues momentum.
- Existing, single-family home sales totaled 423,360 in May Statewide. That was down 1.1% from April but up 8.9% from May 2014.
- Statewide sales were above the 400,000 mark for a second straight month.
- May statewide median home price was $485,830, up 0.8% from April and 4.4% from May 2014.
- California median home price was the highest since November 2007.
- Available housing supply remains constrained with 3.5 months of inventory. A six-to seven month supply is considered typical in a normal market.
- The median number of days it took to sell a single-family home statewide fell in May, down from 34.3 days in April to 28.5 days in May and 31.8 days in May of 2014.
- Statewide, sales-to-list price ratio market indicator suggests that homes are selling for 99% of the list price, essentially flat compared to May of 2014 at 98.8%.
Thinking about a purchase or sale in The Temecula Valley and how this information applies to your plans? Call us at 951-522-0518. We’ve been connecting qualified buyers and sellers in the valley since 1998!