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sav858, the median home price in the San Francisco Bay Area according to the California Association of Realtors is $619,000. Sales are up 60% in the Bay Area and San Diego, up 107% in Sacramento, up 127% in the High Desert, up 143% in The Inland Empire, up 146% in Monterey.
August 2008 Sales and Price Report (http://www.car.org/newsstand/newsreleases/2008newsreleases/augustsalespricereport/ - broken link)
LA, OC and Ventura are actually seeing a much smaller rise. I wonder why?
The home crunch is just getting started. Only buy now if you are wanting to live there for a few years and can stomach watching your value plummet before it rises again.
sav858, the median home price in the San Francisco Bay Area according to the California Association of Realtors is $619,000. Sales are up 60% in the Bay Area and San Diego, up 107% in Sacramento, up 127% in the High Desert, up 143% in The Inland Empire, up 146% in Monterey.
August 2008 Sales and Price Report (http://www.car.org/newsstand/newsreleases/2008newsreleases/augustsalespricereport/ - broken link)
LA, OC and Ventura are actually seeing a much smaller rise. I wonder why?
That's the median priced for detached-single family homes only, which would explain the difference from the numbers I was looking at since it included condos as well.
That chart also says the Bay Area is only up about 10%, not 60%.
It's nice to see prices coming back down to realistic and more reasonable levels though. I was surprised by how much Monterey has dropped, over 50%. I never understood how that place could be so expensive considering the lack of high paying jobs.
That's the median priced for detached-single family homes only, which would explain the difference from the numbers I was looking at since it included condos as well.
That chart also says the Bay Area is only up about 10%, not 60%.
It's nice to see prices coming back down to realistic and more reasonable levels though. I was surprised by how much Monterey has dropped, over 50%. I never understood how that place could be so expensive considering the lack of high paying jobs.
Thanks for the correction.
Also, Californians are not new to price variations but the sheer number of homes lost and the glut of homes on the market is just staggering.
Still, I find that we are a bit less 'sky is falling' then most people elsewhere.
Anyway, this is an awesome time to buy for Californians looking to get into middle to upper middle class new housing developments. Especially in the Central Valley and IE.
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