Pending Sales in February Reach Highest Level in Seven Months

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Discussion on the California Residential Real Estate Market

November 2015 East Bay Market report

East Bay Inventory is increasing. Perfect time to buy a home. Are you looking to be a new homeowner in the East Bay? I can help.

Real Estate Weather report for Castro Valley and East Bay

Castro Valley : Detached Single-Family Homes – July 2015

Market Activity Summary

  • Inventory: 54 units were listed for sale as of the last day of July – approximately 1 month of inventory.
  • Sales Activity: 56 single-family detached units were sold during July.
  • Median Sales Price: $705,500 during July.
  • Average sales price was 105.85% of the average list price during July.

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Meena Gujral

http://www.meena.realtor

Achievers Realty

Help-U-Sell Achievers Realty

925-425-9491

DRE # 00950378

“The best compliment you can offer is a referral!”

Castro Valley and East Bay Real Estate Market

Meena Gujral

Help-U-Sell Achievers Realty

925-425-9491

http://www.helpusellachievers.com

meenagujral@comcast.net

July home sales climb to highest level in nearly three years

Sales 2015-08Sustained job and income growth gave home buyers the confidence in July to jump into the California housing market, pushing home sales to their highest level in nearly three years.

Home sales remained above the 400,000 mark in July for the fourth consecutive month and rose to highest level since October 2012. Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 449,530 units in July. The July figure was up 2.7 percent from the revised 437,680 level in June and 12.7 percent compared with home sales in July 2014 of a revised 398,980. The year-to-year change was the highest since July 2009 and significantly higher than the 6-month average increase of 6 percent observed from January 2015-June 2015.

The median price of an existing, single-family detached California home dipped 0.3 percent in July to $488,260 from $489,640 in June.  July’s median price was 5.4 percent higher than the revised $463,330 recorded in July 2014. The median sales price is the point at which half of homes sold for more and half sold for less; it is influenced by the types of homes selling as well as a general change in values.

Median Price 2015-08

The July Unsold Inventory Index was unchanged from June, remaining at 3.3 months, but down from 3.8 months in July 2014. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate. A six- to seven-month supply is considered typical in a normal market.