Thursday, October 22, 2020

California Real Estate Update

Here are some extracts of the current California Real Estate Update Report, from the California Association of Realtors, which you can browse here in its entirety.   


  • Sales in resort communities remained hot in September as housing demand in those areas continued to surge from last year. South Lake Tahoe home sales continued to increase year-over-year by triple-digits (105.4%) for the second consecutive month …
  • At the regional level, all major regions posted double-digit price increases from last year. … All regions except the San Francisco Bay Area set a new high in median price in September.   
  • All but one of 51 counties tracked by C.A.R. reported a year-over-year price gain, with 39 of them growing 10 percent or more. Lassen had the highest price increase, gaining 51.4 percent year-over-year. Humboldt was the only county where the median price was flat from a year ago, and no counties experienced an annual price decline.
  • C.A.R.’s statewide sales-price-to-list-price ratio* was 100 percent in September 2020 and 98.5 percent in September 2019.
  • The statewide average price per square foot** for an existing single-family home was $321 in September 2020 and $287 in September 2019.
  • The 30-year, fixed-mortgage interest rate averaged 2.89 percent in September, down from 3.61 percent in September 2019, according to Freddie Mac. The five-year, adjustable mortgage interest rate was an average of 2.98 percent, compared to 3.38 percent in September 2019.

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Francis

Silicon Valley real estate
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