California Regional Home Prices a mixed bag-sales way down! (Los Angeles: condo, homes)

[18Montclair]

I dont know how prices can continue to climb in some places despite plunging sales??

California Median Home Prices, August 2007
Median Home Price, Price Change over 1 year
Calif. (sing family) $588,970 2.0%
Calif. (condo) $420,940 -3.1%

Region, Median Home Price, Price Change over 1 year
San Jose $860,000 11.7%
Santa Barbara County $833,330 -0.2%
San Francisco-Oakland $832,760 9.9%
Monterey County $799,500 18.4%
Santa Cruz County $794,200 3.8%
Orange County $710,380 1.8%
Ventura County $669,870 -5.8%
Los Angeles $605,300 2.6%
Napa/Sonoma Counties $600,000 -1.6%
San Luis Obispo $598,400 -0.7%
San Diego $595,070 -0.6%
Palm Springs/Lower Desert $377,920 6.4%
Riverside/San Bernardino Counties $377,130 -7.4%
Far Northern California $370,390 -6.6%
Sacramento $332,510 -12.1%
Central Valley $309,740 -11.5%
High Desert $287,390 -13.7%

Aug 07 sales/price report=

[sponger42]

Only the very expensive homes (multi-million) are moving because price is no object to those buyers. Expect a catastrophic collapse over the next year.

[AA702]

Crazy how San Jose always tops the list. I miss that place, but it was very hard to afford anything there.

[18Montclair]

Originally Posted by AAPoolServiceLV

Crazy how San Jose always tops the list. I miss that place, but it was very hard to afford anything there.

San Jose tops the list because San Francisco is combined with Oakland.

[AA702]

Originally Posted by 18Montclair

San Jose tops the list because San Francisco is combined with Oakland.

Oh, didn't know that. But I did read an article recently that San Jose (meaning the 13 Santa Clara County Cities) is the wealthiest per capita in the US. I think it was almost 80K a year per capita..

[bigtallredhead]

Originally Posted by 18Montclair

I dont know how prices can continue to climb in some places despite plunging sales??

California Median Home Prices, August 2007
Median Home Price, Price Change over 1 year
Calif. (sing family) $588,970 2.0%
Calif. (condo) $420,940 -3.1%

Region, Median Home Price, Price Change over 1 year
San Jose $860,000 11.7%
Santa Barbara County $833,330 -0.2%
San Francisco-Oakland $832,760 9.9%
Monterey County $799,500 18.4%
Santa Cruz County $794,200 3.8%
Orange County $710,380 1.8%
Ventura County $669,870 -5.8%
Los Angeles $605,300 2.6%
Napa/Sonoma Counties $600,000 -1.6%
San Luis Obispo $598,400 -0.7%
San Diego $595,070 -0.6%
Palm Springs/Lower Desert $377,920 6.4%
Riverside/San Bernardino Counties $377,130 -7.4%
Far Northern California $370,390 -6.6%
Sacramento $332,510 -12.1%
Central Valley $309,740 -11.5%
High Desert $287,390 -13.7%

Aug 07 sales/price report=

That's from the NAR, which dose not include homes sold by owners, which are encreasingly significant and on average a lot cheaper. I believe that is also only existing singly family homes for each region within the state. I found a site called Dataquick news (do a Google search as no advertising links are allowed here) has a lot more accurate info on California for overall home prices in the state, which are still outrageous, but not as bad, and also show more of a tendency towards decline.-Emil.