2006 California Median Home PricesIf you're looking for the 2006 California Median Home Prices, please click on the corresponding month on the left navigation bar.
Below is a summary of news released by the California Association of Realtors in regards to the home market trends in California.
- Conditions in the statewide housing market stabilized in December 2006
- sales edged down and the California median price showed a slight gain
- premature to say that the market had bottomed out and that a rebound is in sight.
- Sales dropped from 450,930 homes in November to 450,550
- CA statewide market suffered a 23.6% decline in sales for all of 2006 to 477,460 homes.
- CA median home price in 2006increased 6.5% from $522,670 in 2005 to $556,640.
- Unsold Inventory Index averaged 6.4 months in 2006, more than double the 2.9 month inventory average of 2005.
- Listings increased by 61% from 2005 to 2006,
- For 2006, the median Time on Market rose to 51 days from 32 days in 2005.
- The share of homes on the market less than 30 days fell significantly from 49% in 2005 to 32 % in 2006
- The share of homes on the market over 90 days rose from 11.5% in 2005 to 23.9% in 2006.
- Market remains on target with a projected 7% decline in sales in 2007 and a 2% dip in the statewide median price.
- Median home price in CA increased 13% to $561,350 in March 2006 when compared to a year ago.
- The March 2006 median price increased 4.8% compared with February's $535,480 median price.
- Sales declined 15% when compared to a year ago
- Unsold Inventory Index for existing, single-family detached homes in March 2006 was 4.8 months, compared with 2.2 months a year ago.
- The median number of days it took to sell a single-family home was 44 days in March 2006, compared with 30 days a year ago.
- Mmedian price in Central Valley increasedjust 8.1%to $350,930 while sales dropped 24% compared to March 2005.
- Sales continued to decline in January 2006
- Sales of existing detached single-family homes declined 24.1% from 659,410 units in January 2005 to 500,474 units in January 2006
- Sales dropped about 31,000 units, or 5.9% month-to-month compared to December 2005
- The median price of an existing detached home continued to grow on a year-to-year basis, increasing 13.8% from $484,580 in January 2005 to $551,300 in January 2006.
- The median increased 0.5% from the December 2005 median of $548,640.
- The unsold inventory index in January was 6.0 months, higher than the 3.6 months in December 2005 and nearly double the 3.2 months from January 2005.
- That was the highest since February 1999 when the unsold inventory index was also 6.0 months
- CA set a new record for both home sales and the median price in 2005.
- Sales for all of 2005 finished at 624,960 units,slightly higher than the prior record of 624,740 set in 2004.
- The annual median price in California increased from $450,780 in 2004 to $524,020 in 2005.
- Price appreciation was 16.4% in 2005 compared to 18 to 21% in prior 3 years.
- Sales of detached existing single family homes fell to 579,560 units in November, a 6.8% month-to-month decline from October 2005 sales of 621,530 homes, and a 11.2% year-to-year decline compared to November 2004 sales of 652,340 homes.
- The statewide median price rose 16.2% from $471,980 in Nov 2004 to $548,400 in Nov 2005.