Prices Up - Sales DOWN

Central Valley Business Times: "California home sales plunge as prices jump

LOS ANGELES
April 25, 2006 11:27am


• Prices up 13 percent; sales down 15 percent statewide
• Prices up 8 percent, sales down 24 percent in Central Valley

The median price of an existing home in California increased 13 percent in March to an all-time high of $561,350 in California, according to figures compiled by the California Association of Realtors.
But as prices were headed upward, sales were headed down, plunging 15.1 percent compared with the same period a year ago.
The real estate market in the Central Valley was not in step with the state as a whole.
The California Association of Realtors says the median price rose just 8.1 percent to $350,930 while sales dropped 24 percent compared to March 2005."

The median number of days it took to sell a single-family home was 44 days last month, compared with 30 days for the same period a year ago.


In a separate report covering more localized statistics generated by the Realtors and DataQuick Information Systems, a La Jolla real estate information company, 89.8 percent or 369 of 411 cities and communities showed an increase in their respective median home prices from a year ago.
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