California Median Home Price

Posted on

April Home Sales and Price Report

Statewide median home price climbs,

breaking $500,000 for first time in nine years!

April’s statewide median home price was $509,100, up 5.3% from March and 5.1% from April 2015.

C.A.R.’s Unsold Inventory Index, which indicates the number of months needed to sell the supply of houses currently on the market at the current sales rate, slipped to 3.5 months. A 6-to-7 month supply is considered typical in a normal market.

According to C.A.R.’s sales to list price ratio, tight inventories appear to be driving final sold prices closer to listing prices, with sales prices rising to 99.3% of listing prices statewide.

The median number of days it took to sell a single-family home fell in April to 27.7 days, compared to 29.9 days in March.

Taken from CAR.org  5-18-16 All information deemed reliable but not guaranteed. For tax, investment or ownership advice we suggest you contact an attorney or certified public accountant.

Median = half more/half less

Find out what this means to the value of your home in Southwest Riverside County.  Temecula, Murrieta, Menifee, Hemet, Winchester, Wildomar, Lake Elsinore & French Valley.  We are available by phone, text and email (951) 522-0518, april@teamgreer.com

Print

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s