California Real Estate Report 2017 March
California 2017 March Sales
California’s spring housing market posted a strong start to the year as existing home sales and median home prices registered healthy gains in March 2017 on both a monthly and annual basis, as did every major region in the state of California.
Single Family Sales
- May 2017 - 389,000 sales
- Feb 2017 - 401,000 sales
- March 2017 - 416,000 sales
- May 2017 - $484,000
- Feb 2017 - $478,000
- March 2017 - $517,000
Regional Sales and Median Price
San Francisco Bay Area’s median price of single family homes was $837,720 increasing 10.1% from last year. Sales in the Bay Area increased 6.4% from last year.
The median price in the Central Valley Region increased 2.3% to $282,230. Sales of existing single family homes in the region increased 0.6% from 2016 at this same time.
In Southern California the median price of single family homes increased 1.2% from a year ago to $478,730 and sales increased by 6.8% from last year.
San Diego County home prices have been strong but the inventory has been low. There are increasingly large numbers of home buyers looking to buy a home but the inventory has been low to where multiple buyers are writing offers on the good properties and sellers are getting multiple offers on their homes. If you’re buying interest rates are still low but due to rise and if you’re selling your home in San Diego they buyers are out in full force.
If you’re buying or selling real estate in San Diego make sure you give us a call to discuss the market and the opportunities that exist.
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Buying or selling a home in San Diego, give The Lewis Team a call today! We would love to help!
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