February Sales Update

Still the same trend: Sales volume decreases but sales price increases--compared to February 2006. According to the California Association of Realtors:

"The median price of an existing, single-family detached home in California during February 2007 was $564,700, a 5.7 percent increase over the revised $534,400 median for February 2006, C.A.R. reported. The February 2007 median price increased 1 percent compared with January’s revised $559,300 median price."

It appears that sellers are hanging in there with their asking prices and so are the qualified, motivated buyers. Los Angeles County was third in median price increase (5% over January 2007), with Santa Clara and Palm Springs/Desert areas being the 2nd and 1st, respectively.

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