Industry News

California real estate values don’t disappoint

Median price up $80K from a year ago

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The median price of an existing California home in September increased 17.3 percent from a year ago, while sales grew 3.9 percent, the California Association of Realtors reported today. The median price of an existing, single-family detached home in California was $543,980, a 17.3 percent increase over the revised $463,630 median for September 2004, C.A.R. reported. The September 2005 median price decreased 4.4 percent compared with August's revised $568,730 median price. "The September median home price compared with August has fallen every year since 1993, and in 20 of the last 26 years," said C.A.R. President Jim Hamilton. "This year is no exception and is part of the seasonal shift to an off-peak period in the real estate market as we approach year's end. "Despite the seasonal slowdown for the market as a whole, the median price in the High Desert, Riverside/San Bernardino, Santa Barbara South Coast and San Luis Obispo regions hit record highs last month," he said. Closed e...