California Home Prices Jump 7% - Increased Homes Sales Also Reported.

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Real Estate Agent with GreatWest Realty DRE# 00827565

DataQuick, a real estate home sale tracking firm, states the median home price in California jumped 7% last month from May.

DataQuick also reports that the upturn, has been sustained now for a second month, as a result of an increase in sales of more expensive homes.

The California statewide median price increased to $246,000, up from $230,000 in May.  However, the statistic is down 25% from the $328,000 median in June 2008.

DataQuick went on to say that about 44,000 homes were sold statewide in June, up more than 13% from the approximate 39,000 sales in May, and nearly 26% from 36,200 in June 2008.

The Sacramento Bee reports these figures mark the 12th consecutive month when home sales have increased on a year-over-year basis.

Click Here for a complete report of these statistics as reported in the Sacramento Bee.

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Ambassador
1,041,595
Andrea Swiedler
Berkshire Hathaway HomeServices New England Properties - New Milford, CT
Realtor, Southern Litchfield County CT

Myrl, that is great news! I hope that spreads across the country just like a wave!

I always love to hear good news.

Jul 16, 2009 12:03 PM #1
Rainmaker
1,132,361
Claude Cross
Homes By Cross, Inc. - Charlotte, NC
Charlotte NC Homes For Sale

Myrl - We have experienced a jump here in closings as well. Things are very slowly getting better. I hope it continues

Jul 16, 2009 12:52 PM #2
Rainmaker
920,312
Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

I'm sure the media will never report this. They will have to do a 12 month investigation to prove it's not true, and by then it won't be worth reporting. Did I mention that the media only reports negative stories.

Jul 16, 2009 01:40 PM #3
Rainmaker
1,317,476
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

Myrl - this looks like good news!  I still  have my condo in SF and I am hoping that will be true there as well.  Do you think the condos have gone down in value more than the single family homes?

Jul 16, 2009 02:53 PM #4
Ambassador
2,289,828
1~Judi Barrett
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

this is wonderful news.  I have clients in ca that also own property in ok.  They will be glad!

Jul 16, 2009 02:55 PM #5
Rainmaker
2,519,242
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Andrea - I certainly hope so too!

Claude - That's the way I see it too. . .Things are very slowly getting better.

Larry - Actually I originally heard the story via the media.  Both on our local news channel, and in our local paper.  Because DataQuick is the source of the information, I am hopeful it will become widespread.

Joan - I think condos in some areas may have gone down more than single family homes in some areas.  I see a lot of variance depending upon zip-code.

Judi - I am hopeful, this is a benchmark for the market bottom, and things will continue to show improvement.

Jul 16, 2009 03:11 PM #6
Rainmaker
544,628
Shirley Parks
Sands Realty 210-414-0966 - San Antonio, TX
Broker, 210-414-0966, San Antonio TX Real Estate

woo hoo, that's awesome, Myrl.  Thanks for sharing this promising real estate news!

Jul 16, 2009 03:33 PM #7
Rainmaker
2,189,557
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Prices have been going up since March, inching ever so slightly upward. Pending sales are up 12% in June over May. Plus, the average price per square foot in Sacramento has gone up 3% from May to June, and is now $121. No wonder there's a feeding frenzy going on in Sacramento.

Sacramento short sale agent

Jul 17, 2009 02:56 AM #8
Rainmaker
671,701
Sandy Shores FL Realtor®, Melbourne Real Estate
M & M Realty of Brevard Inc. - Melbourne, FL
Brevard County Real Estate, Florida's Space Coast

Hi Myrl, Love to hear the great news that the market is improving.  Great info! 

Jul 17, 2009 03:09 AM #9
Rainmaker
2,519,242
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Shirley - We've been experiencing improvement for a few months now.  I'm glad to see this news that represents numbers for our state.  Hopefully, the rest of the nation will be as fortunate.

Elizabeth - I've noticed that too.  In fact I'm more concerned about a shortage of good inventory locally.

Sandy - Good news in the housing market is always a wonderful thing. 

Jul 17, 2009 02:39 PM #10
Rainmaker
484,352
Trey Thurmond
BCR Realtors - College Station, TX
College Station , Texas Homes

Myrl

This is good news for you guys. Let's hope it sustains. You guys deseve some positive trends for a change.

Jul 17, 2009 03:45 PM #11
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Rainmaker
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Myrl Jeffcoat

Greater Sacramento Real Estate Agent
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