Market Snapshot – Inventory Remains Tight and Median Sales Price Continues to Rise

Wed, 2012-10-17 13:17 -- David Kubiczky

While the shortage of available homes for sale in California continued in September, the median price reached its highest level in more than four years according to the California Association of Realtors (C.A.R.).

In September, the median price of an existing, single-family detached home in California was $345,000, up 0.3 percent from August’s $343,820.  That’s a whopping 19.5 percent from $288,700 in September 2011, marking the seventh consecutive month of both month-to-month and year-to-year price increases. Additionally, September’s median price was the highest its been since August 2008, when the median price was $352,730. The year-to-year increase was the largest since May 2010.

California Median Home Price Data for September 2012

All California: $345,000
Highest median home price by region/county: Marin, $769,230
Lowest median home price by region/county: Tehama, $127,500
     - - - - - - - - - - - - - 
L.A. Countywide median price for Single Family Homes: $373,020
L.A. County Month-to-Month Change: +8.2%
L.A. Country Year-to-Year Change: +12.8%
     - - - - - - - - - - - - - 
L.A. Metro median price for Single Family Homes: $318,470
L.A. Metro Month-to-Month Change: +1.1%<
L.A. Metro Year-to-Year Change: +16.4%
Source: C.A.R.

Mortgage Rates - Week Ending 10/4/2012

30-yr. fixed: 3.30% fees/points: 0.7%
15-yr. fixed: 2.70 fees/points: 0.6% 1-yr.
5/1-Yr ARM: 2.73% Fees/points: 0.6%  Margin: 2.74
1-Yr ARM: 2.59%  Fees/Points: 0.4%  Margin: 2.77
Source: Freddie Mac

L.A. HOME RESALE ACTIVITY BY ZIP CODE - SEPTEMBER 2012

Source: L.A. Times

 

Single Family Homes

Condominiums

SFR Only

 

ZIP Code

# Sales

Price Median ($1,000)

Price % Chg from Sept 2011

# Sales

Price Median ($1,000)

Price % Chg from Sept 2011

Median Price/ Sq. Ft

LA

90003

21

$138

7.2%

n/a

n/a

n/a

$149

LA

90004

18

$590

-36.8%

4

$364

21.3%

$319

LA

90006

2

$265

-44.2%

3

$358

84.5%

$111

LA

90010

n/a

n/a

n/a

4

$522

33.7%

n/a

LA

90011

15

$125

-18.6%

n/a

n/a

n/a

$138

LA

90012

n/a

n/a

n/a

8

$285

7.5%

n/a

LA

90015

n/a

n/a

n/a

8

$779

122.6%

n/a

LA

90016

11

$275

6.0%

1

$140

-36.7%

$211

LA

90018

15

$228

-3.0%

1

$455

120.9%

$199

LA

90019

16

$479

-16.9%

3

$275

-22.5%

$221

LA

90020

3

$1,800

-6.5%

2

$285

15.1%

$500

LA

90023

3

$113

-19.3%

n/a

n/a

n/a

$178

LA

90027

11

$990

-8.7%

2

$317

24.3%

$448

LA

90029

2

$470

-7.0%

2

$358

34.9%

$284

LA

90034

13

$750

54.6%

1

$305

-12.5%

$536

LA

90035

11

$715

-26.3%

6

$451

4.0%

$423

LA

90036

6

$1,035

15.0%

4

$525

39.8%

$580

LA

90037

15

$188

6.2%

n/a

n/a

n/a

$151

LA

90039

17

$615

11.8%

1

$657

n/a

$413

LA

90047

32

$210

0.0%

n/a

n/a

n/a

$160

LA

90057

n/a

n/a

n/a

6

$166

14.7%

n/a

LA

90062

17

$235

27.0%

n/a

n/a

n/a

$185

LA

90063

16

$221

13.5%

n/a

n/a

n/a

$198

La Canada F

91011

21

$941

6.9%

1

$678

n/a

$465

La Crescnta

91214

25

$610

22.0%

1

$190

-48.6%

$358

La Mirada

90638

29

$377

6.1%

11

$359

36.1%

$254

La Puente

91744

44

$269

12.1%

2

$137

-4.9%

$209

La Puente

91746

15

$244

1.7%

1

$365

125.3%

$201

La Verne

91750

26

$450

34.3%

4

$345

50.7%

$234

LA/AugFHw

90044

43

$198

2.6%

n/a

n/a

n/a

$162

LA/AugFHw

90059

30

$180

16.1%

n/a

n/a

n/a

$141

LA/AugFHw

90061

8

$196

-1.0%

1

$143

-22.3%

$184

LA/Bldwn H

90008

14

$363

-21.2%

3

$79

-50.6%

$202

LA/Bel-Air

90077

12

$1,142

-22.6%

2

$1,050

-76.4%

$479

LA/Boyle Ht

90033

3

$116

-20.0%

n/a

n/a

n/a

$152

LA/Brentd

90049

20

$1,660

2.8%

13

$570

6.6%

$638

LA/Centry C

90067

n/a

n/a

n/a

7

$720

15.7%

n/a

LA/CyofCom

90040

3

$265

-1.9%

n/a

n/a

n/a

$221

LA/Dockwlr

90007

1

$355

14.5%

n/a

n/a

n/a

$309

LA/Eagle Rk

90041

15

$486

15.6%

n/a

n/a

n/a

$348

LA/East LA

90022

9

$250

25.0%

n/a

n/a

n/a

$232

LA/Echo Pk

90026

21

$500

-17.0%

2

$290

-30.8%

$440

LA/ElSereno

90032

11

$233

1.3%

n/a

n/a

n/a

$226

LA/Firstn Pk

90001

8

$170

25.6%

n/a

n/a

n/a

$161

LA/Glassell

90065

21

$422

21.4%

1

$190

n/a

$295

LA/Highld P

90042

26

$428

57.4%

9

$291

32.6%

$369

LA/Hollywd

90028

n/a

n/a

n/a

2

$425

26.3%

n/a

LA/Hollywd

90068

24

$780

-10.2%

7

$275

-8.2%

$461

LA/Ladera H

90056

4

$800

56.8%

n/a

n/a

n/a

$235

LA/Lincln H

90031

4

$210

4.0%

5

$235

-1.9%

$268

LA/Mar Vsta

90066

39

$733

16.3%

4

$440

39.0%

$538

LA/Rncho P

90064

9

$795

-27.7%

7

$488

21.9%

$464

LA/Sanford

90005

5

$743

-17.3%

9

$357

34.7%

$296

LA/VPk/WH

90043

36

$310

13.8%

n/a

n/a

n/a

$218

LA/Watts

90002

30

$173

4.7%

n/a

n/a

n/a

$150

LA/West LA

90025

6

$1,085

30.3%

20

$533

2.5%

$789

LA/Westchtr

90045

31

$657

-3.2%

5

$382

81.9%

$434

LA/Westwd

90024

6

$1,250

4.2%

24

$524

11.5%

$618