On October 17, 2016, California Association of Realtors (C.A.R) reported that condo and town-homes values decreased 1.0% to an average price of $414,570 in September of 2016 from $418,750 in August 2016, but jumped 6.6% price of $388,740 from September of 2015. While, condo and town-homes sales fell 8.5% in September of 2016 from August of 2016 but rose 1.4% from September of 2015 for condo and town-homes in California.
There were 2.8 months supplies of available inventory of homes in September of 2016, higher from 2.6 in July of 2016, but same as from 2.8 months in September of 2015. An average it took 27.3 days to sell a home in September 2016, dropped from 29.3 days in August of 2016, and down from 29.6 days in September of 2015 condo and town-homes in California.
C.A.R. Vice President and Chief Economist Leslie Appleton-Young, stated “For example, sales of properties priced between $2 million and $3 million, which are the least inventory constrained, grew by high double-digits in 2014 and 2015, but the pace has slowed down to a negligible 0.2 percent increase through the first nine months of this year.”
For complete more detailed information about the California Association of Realtors’ September of 2016 in California condo and town-homes sales and value report, please CLICK HERE
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