3/24/2006

California Median Home Price for February

.... was $535,470, with Newport Beach at the highest median home price and Yorba Linda at the lowest. It took longer to sell a single family home this February compared to Feb. 2005. The median price is 13.7 percent higher than last year, but 2.9 percent lower than January 2006's median price. There continues to be the highest home inventory than we've had for several years. It would take over 6 months to deplete the current supply; this time last year there was only 3 months inventory, which buyers felt accutely when they made offers which often turned into competition with other buyers.

The median price for condos statewide is $433,140, an increase in price from January. Follow the link for more info.

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