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
