949-391-5091

 
 

OC Short Sales Specialist

 

go back to Homepage

Rental Listing service

City Tours and Statistics

Free Home Valuation and Consultation

Real estate listing services

Home Loan Services and Refis

Search MLS for Homes

About the OC Homefinder Team, Contact us

 

 

 

California November Home Sales

Here is some overall current home stats on the state of real estate sales in California. Just be warned that every Holiday season we see this same trend, lower home sales. People just do not want to disrupt there lives around the holidays. So with that said please do not discouraged by these numbers, because if real estate history has taught us anything, the numbers in January are going to go thru the roof.

An estimated 33,429 new and resale houses and condos sold statewide last month. That was down 8.3 percent from 36,468 in October, and down 10.8 percent from 37,481 sales in November 2012,

November sales have varied from a low of 25,578 in 2007 to a high of 60,326 in 2004. Last month's sales were 15.1 percent below the average of 39,357 sales for all the months of November since 1988,  California sales havenít been above average for any particular month in more than seven years.

 The median price paid for a home in California last month was $360,000, up 0.8 percent from $357,000 in October and up 23.7 percent from $291,000 in November 2012. Last month was the 21st consecutive month in which the state's median sale price rose year-over-year, and the 12th straight month with a gain exceeding 20 percent.

 In March/April/May 2007 the median peaked at $484,000. The post-peak trough was $221,000 in April 2009.

 Of the existing homes sold last month, 6.8 percent were properties that had been foreclosed on during the past year. That was up from a revised 6.7 percent in October and down from 16.9 percent a year earlier. Foreclosure resales peaked at 58.8 percent in February 2009.

 Short sales - transactions where the sale price fell short of what was owed on the property - made up an estimated 12.3 percent of the homes that resold last month. That was down from an estimated 12.4 percent the month before and 26.2 percent a year earlier.

 The typical monthly mortgage payment that California buyers committed themselves to paying last month was $1,418, up from $1,395 the month before and up from $1,026 a year earlier. Adjusted for inflation, last month's payment was 38.4 percent below the typical payment in spring 1989, the peak of the prior real estate cycle. It was 50.1 percent below the current cycle's peak in June 2006. It was 54.5 percent above the February 2012 bottom of the current cycle.

Indicators of market distress continue to decline. Foreclosure activity remains well below year-ago and peak levels reached in the last five years. Financing with multiple mortgages is low, while down payment sizes are stable.

 

Call: 949-391-5091

   
 

Ask for:

Shan Roberts

Broker

 

 
   

© 2015 OC Homefinder Team - All rights reserved. bre#01262388, nmls #1082667, Broker Shan Roberts 949-340-6684

 
 

Website provided by OC Homefinder Team a Real Estate brokerage with the Bureau of Real Estate # 01262388 DBA: OC Homefinder Team. All materials, graphics, photos and documentation was originated by Shan Roberts and All rights reserved on use of this material within this website. copy write 2015