CA Home Prices Going Up, Inventory Down

After 16 months of declines, median home prices in California increased, according to the California Association of Realtors (C.A.R.).

The median price of a single-family home for March 2012 was $291,080, a 1.6% increase compared to $286,550 for March 2011, and a 9.2% increase compared to February’s median price of $266,660. The month-over-month increase was the largest since March 2004.

C.A.R. also reported that California’s housing inventory declined, a sign the housing market is turning.  The Unsold Inventory Index for existing, single-family homes was down to 4.1 months in March, compared to a 5.4 months in February.

Not only is inventory down, but according to C.A.R., it takes less days to sell a home.  A single-family home took only 53.1 days to sell in March.

Clovis Real Estate

Because bidding wars over homes for sale have now emerged in Fresno and Clovis, now is a great time to buy a home before the spring and summer markets heat up even more.  Let us know if you’re interested in selling or buying a Clovis home.  Just fill out the form below and we’ll walk you through the process right over the phone.

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This entry was posted on Friday, April 20th, 2012 at 8:20 AM and is filed under Buyer Info, Clovis Real Estate News, Seller Info. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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