California home prices near 4-year high

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California home sale prices came close to a 4-year high in July, with the pace of sales year-over-year growing for the fourth month in a row, the CALIFORNIA ASSOCIATION OF REALTORS® reported.

  • The median home price in July for an existing single-family home was $333,860 last month, up 4.2 percent from $320,540 in June and nearly 13 percent from a year ago, when the median home price in California was $296,160.
  • July’s median home price was the highest since August 2008, when it was $352,730.  July also marked the fifth consecutive month that the median price increased month-over-month and year-over-year.
  • Sales in July rose to an annualized pace of 529,230 homes, an increase of 15.3 percent compared with last July.
  • California’s housing inventory was nearly flat in July, with the index of existing, single-family homes at 3.4 months compared with 3.5 months in June.

However, July’s inventory was down from a revised 5.6-month supply in July 2011.  The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate.  A 7-month inventory is considered normal.

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Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert


Home buyers in Napa Valley need to follow your advice and find a home now before inventories are all sallowed up. These same buyers need to call you right away to get the process started and use an experienced, highly competentarea expert to assist them.

Aug 26, 2012 03:01 AM #1
Yolanda Cordova-Gilbert
Sitterle Homes - Richmond, TX
Sitterle Homes


        Another great local market report.if anyone is looking for a home in the Napa Valley please call Curtis! I hope you are having a great weekend!

Aug 26, 2012 07:55 AM #2
Frank Castaldini
Coldwell Banker - San Francisco, CA
Realtor - Homes for Sale in San Francisco



You got that right, we are definetly feeling it down here in San Francisco.

If only we had some inventory to sell.



Aug 27, 2012 02:17 AM #3
Curtis Van Carter
Better Homes & Gardens Wine Country Group - Yountville, CA
Your Napa Valley Broker Extraordinaire

Bob Yolanda

Thanks for your kind words, cheers cvc


Same up here is the Napa Valley. Isn't this truly a feast or famine business, cheers cvc

Aug 27, 2012 05:23 AM #4
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