Posts from September 2024

Sunshine Properties Blog

Subscribe and receive email notifications of new blog posts.




rss logo RSS Feed
Uncategorized | 818 Posts
September
20

August 27, 2024

San Diego building and housing leaders call for regional affordability, capacity building

SAN DIEGO (Aug. 27) – San Diego region's housing supply challenges took center stage last week during the Center for California Real Estate's (CCRE) multi-sector solutions discussion highlighting the urgent need for increased affordable housing development.

Bringing together leaders from the Building Industry Association of San Diego County, City of San Diego, San Diego Housing Fund, and San Diego Housing Federation, the forum ― CCRE Presents – Navigating San Diego's Housing Opportunities: Collaborative Approaches, Practical Solutions ― explored solutions, policy strategies, and collaborative efforts to create a ro...

Click Here to Read More...

September
17

Irrigation Water Fertilization Videos Available in English and Spanish

  • Sep 17, 2024

Cal Poly's Irrigation Training and Research Center has developed a 22-video series that outlines how to fertilize crops through irrigation water (known as fertigation). The videos are available in English and Spanish on their YouTube channel and the ITRC website.

The video topics included in the series are:

  • An overview of fertilization through irrigation water
  • Basic fertilizer chemistry and vocabulary
  • Nitrogen and the environment
  • Basic soil principles
  • Crop fertilization requirements
  • Testing of plant soil and water
  • Fe...

Click Here to Read More...

September
17

Compare current mortgage rates for today

Sep. 17, 2024

What type of home loan are you looking for?

What type of loan are you looking for?

How it works

Compare top rates

See low rates from over 100+ lenders.

Select a lender

Get custom quotes in under 2 minutes.

See your savings

You could take hundreds off your mortgage.

Mortgage rate news this week - Sept. 12, 2024

Mortgage rates push toward 6.25%

Mortgage rates fell this week, averaging 6.31% for 30-year fixed loans, according to Bankrate's lender survey. Thirty-year mortgage rates haven't been this low since February 2023.

Mortgage rates began falling in July thanks to brighter inflation news, then dropped to the 6s in August after a blip of market volatility. Now, with the Federal Reserve all but certain to cut interest rates next week, the cost of a mortgage has slipped to a 19-month low.

Still, some prospective homebuyers are waiting for rates to fall farther. In a June Bankrate survey, 47 percent of homeowners said they'd need rates under 5 percent to feel comfortable buying a home this year.

Despite lower mortgage rates, home sales activity came in 2.5% lower in July compared to last year.

Experts: Look for lower rates ahead of Fed cut


Melissa Cohn

Regional Vice President, William Raveis Mortgage

"Mortgage rates will continue to move down this week as we wait for the Fed's next rate move on Sept. 18. A weaker-than-expected jobs report has sent bond yields to their lowest levels in months, and the mixed CPI report has not derailed the rally. Upcoming economic reports on PPI and retail sales will define how big a rate cut to expect next week, but the good news is that rates are firmly lower." - Sept. 11

Current mortgage and refinance interest rates

Product Interest Rate APR
30-Year Fixed Rate 6.34% 6.38%
20-Year Fixed Rate 6.24% 6.29%
15-Year Fixed Rate 5.66% 5.73%
10-Year Fixed Rate 5.94% 6.02%
5-1 ARM 5.90% 6.92%
10-1 ARM 6.90% 7.11%
30-Year Fixed Rate FHA 6.21% 6.25%
30-Year Fixed Rate VA 6.49% 6.53%
30-Year Fixed Rate Jumbo 6.48% 6.53%

Rates as of Tuesday, September 17, 2024 at 6:30 AM

 

Learn more: Interest rate vs. APR

  • Why trust Bankrate's mortgage rates

How to get the best mortgage rate

Getting the best possible rate on your mortgage can mean a difference of hundreds of extra dollars in or out of your budget each month — not to mention thousands saved in interest over the life of the loan. You won't know what rates you qualify for, though, unless you comparison-shop. And you also need to narrow down the best type of mortgage for your situation. Here's how to do it:

  1. Determine what type of mortgage is right for you. Consider your credit score and down payment, how long you plan to stay in the home, how much you can afford in monthly payments and whether you have the risk tolerance for a variable-rate loan versus a fixed-rate loan.
  2. Compare mortgage rates. There's only one way to be sure you're getting the best available rate, and that's to shop at least three lenders, including large banks, credit unions and online lenders. Bankrate's mortgage lender reviews can get you started. Bankrate offers a mortgage rates comparison tool to help you find the right rate from a variety of lenders. Keep in mind: Mortgage rates change daily, even hourly, based on market conditions, and vary by loan type and term.
  3. Choose the best mortgage offer for you. Bankrate's mortgage calculator can help you estimate your monthly mortgage payment, which can be useful as you consider your budget. Look at the APR, not just the interest rate. The APR is the total cost of the loan, including the interest rate and other fees. These fees are part of your closing costs.

Why compare mortgage rates?

It's been proven: Shopping with multiple lenders can save you up to $1,200 a year. Bankrate's mortgage amortization calculator shows how even a 0.1 percent difference on your rate can translate to thousands of dollars you could pay over the life of the loan.

Factors that determine your mortgage rate

Your mortgage rate depends on a number of factors, including your individual credit profile and what's happening in the broader economy. These variables include:

  • Your credit and finances: The better your credit score, the better interest rate you'll get. The same goes for the size of your down payment and the amount of debt you carry: Generally, if you have more money to put down, you'll get a lower rate. If you have additional debt, your rate might be higher.
  • Loan amount: The size of your loan can impact your rate.
  • Loan structure: Your rate varies whether you're obtaining a fixed-rate or adjustable-rate loan. It also depends on the length of the loan (for example, 30 years or 15 years).
  • Location of the property: Rates vary depending on where you're buying.
  • Whether you're a first-time homebuyer: Many first-time homebuyer loan programs include a lower-rate mortgage.
  • Economic factors: Broadly, mortgage rates are impacted by forces like the Federal Reserve, inflation and investor appetite.
  • The lender you work with: Lenders set rates based on many factors, including their own supply and demand.
  • Mortgage points. Mortgage points, also referred to as discount points, help homebuyers reduce their interest rate and monthly mortgage payments. Each point typically lowers an interest rate by 0.25 percentage points. For example, one point would lower a mortgage rate of 6 percent to 5.75 percent. The cost of a point is typically 1 percent of the total amount borrowed. For more details, see Bankrate's guide to mortgage points.
  • The size of your down payment. If you put down less than 20 percent of the purchase amount, you may pay a higher rate.

How to refinance your current mortgage

When interest rates fall, you might choose to refinance your mortgage to a new loan at a lower rate. The process isn't much different from your original mortgage application, and you'll likely pay less in closing costs this time around compared to when you first bought a home.

While most borrowers today have mortgages with already-low rates, there are still some instances when refinancing might make sense. If you're considering refinancing, think about your goals. Do you want to save money? Take cash out? Pay off your mortgage faster? Get a fixed rate? Borrowers refinance for these and many other reasons. Compare refinance rates and do the math with Bankrate's refinance calculator.

Next steps to getting a mortgage

Before you start applying for a mortgage, here are some mortgage resources to prepare you for the process:

Mortgage FAQ

  • What is a mortgage and how does it work?
  • Should you lock in your mortgage rate?
  • How much are closing costs on a mortgage?
  • Who are the best mortgage lenders?

Meet our Bankrate experts

Written by: Jeff Ostrowski, Principal Reporter, Mortgages

I cover mortgages and the housing market. Before joining Bankrate in 2020, I spent more than 20 years writing about real estate and the economy for the Palm Beach Post and the South Florida Business Journal. I've had a front-row seat for two housing booms and a housing bust. I've twice won gold awards from the National Association of Real Estate Editors, and since 2017 I've served on the nonprofit's board of directors.

Read more from Jeff Ostrowski

Edited by: Suzanne De Vita, Senior Editor, Home Lending

I've covered the housing market, mortgages and real estate for the past 12 years. At Bankrate, my areas of focus include first-time homebuyers and mortgage rate trends, and I'm especially interested in the housing needs of baby boomers. In the past, I've reported on market indicators like home sales and supply, as well as the real estate brokerage business. My work has been recognized by the National Association of Real Estate Editors.

Read more from Suzanne De Vita

Reviewed by: Greg McBride, CFA, Chief Financial Analyst, Bankrate

Greg McBride is a CFA charterholder with more than a quarter-century of experience in personal finance, including consumer lending prior to coming to Bankrate. Through Bankrate.com's Money Makeover series, he helped consumers plan for retirement, manage debt and develop appropriate investment allocations. He is an accomplished public speaker, has served as a Wall Street Journal Expert Panelist and served on boards in the credit counseling industry for more than a decade and the funding board of the Rose Foundation's Consumer Financial Education Fund.

Read more from Greg McBride

September
17

For release:
September 17, 2024   

California home sales pull back in August as buyers adopt "wait and see" strategy, C.A.R. reports

  • Existing, single-family home sales totaled 262,050 in August on a seasonally adjusted annualized rate, down 6.3 percent from 279,810 in July and up 2.8 percent from 254,820 in August 2023.

  • August's statewide median home price was $888,740, up 0.2 percent from July and up 3.4 percent from $859,670 in August 2023.

  • Year-to-date statewide home sales edged up 0.5 percent.


LOS ANGELES (Sept. 17) – 
California home sales hit a seven-month low in August, as buyers held out despite interest rates that dipped to the lowest level since spring, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.

 

Infographic: https://www.car.org/Global/Infographics/2024-08-Sales-and-Price


Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 262,050 in August, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2024 if sales maintained the August pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

August's sales pace fell 6.3 percent from the 279,810 homes sold in July and were up 2.8 percent from a year ago, when a revised 254,820 homes were sold on an annualized basis. The sales pace has remained below the 300,000-threshold for 23 consecutive months, while year-to-date home sales edged up 0.5 percent from the first eight months of 2023.

"Home price growth in California continued to moderate in August as the market neared the end of the traditional home buying season," said C.A.R. President Melanie Barker, a Yosemite REALTOR®. "With the Federal Reserve signaling it will lower interest rates soon, mortgage rates are expected to ease well below their recent peaks. As such, housing affordability will improve in the fall, and buyers will benefit from lower costs of borrowing in the coming months."

August's statewide median price was essentially flat, inching up 0.2 percent from $886,560 in July to $888,740 in August. California's median home price was 3.4 percent higher than the revised $859,670 recorded in August 2023. The year-over-year gain was the 14th straight month of annual price increases, albeit the smallest since September 2023. Home prices could soften further in the coming months but should continue to register year-over-year growth for the rest of the year.

 
Sales in higher-priced market segments continued to influence the mix of sales, but the impact on the state-wide median price growth has been reduced in recent months. While the sales pace for the $1 million-and-higher price segment decelerated in August to 3.6 percent, sales in the sub-$500,000 market had a lackluster performance as well, dropping 9.0 percent below the year-ago level. Moderation in the median price growth could be observed in the coming months if the share of homes priced at or above $1 million continues to shrink in the fall.

"Despite a slightly better lending environment in recent weeks, closed home sales pulled back in August as buyers evaluated whether to wait for the Federal Reserve to cut rates before entering the market," said C.A.R. Senior Vice President and Chief Economist Jordan Levine. "Pending sales, along with mortgage application trends, however, suggest that housing demand has been slowly improving in the past few weeks. If mortgage rates remain at their current low or dip further in the coming weeks, home sales should rise steadily as we move toward the end of the year."

Other key points from C.A.R.'s August 2024 resale housing report include:

  • At the regional level, home sales in all major regions except for two were higher than their year-ago levels in August. Three out of the five regions in the state registered increases from a year ago, with the San Francisco Bay Area (4.8 percent) increasing the most. It was followed by the Central Coast (3.0 percent) and the Central Valley (0.8 percent) regions. The two regions in the state that fell behind last year's sales level were the Far North (-5.0 percent) and Southern California (-2.3 percent).

  • Twenty-six of the 53 counties tracked by C.A.R. recorded sales increased from a year ago, with 10 of them jumping more than 10 percent year-over-year. Yuba (37.1 percent) posted the largest yearly sales gain, followed by Mendocino (25.6 percent) and Glenn (25.0 percent). Twenty-seven counties experienced sales decreases from last year, with 18 of them falling more than 10 percent year-over-year. Eight counties had sales drops of more than 20 percent, and three counties experienced sales declines of more than 30 percent. Trinity (-50.0 percent) recorded the biggest annual sales decline in August, followed by Mariposa (-45.0 percent) and Plumas (-34.8 percent).

     

  • At the regional level, all major regions except for one experienced an increase in their median price from a year ago in August. The Central Coast posted the biggest price jump on a year-over-year basis, increasing 8.9 percent from last August. Far North (7.7 percent) was a close second, followed by Southern California (4.0 percent), and the Central Valley (3.1 percent). The San Francisco Bay Area (-1.6 percent) was the only region that recorded a price decline in August compared to a year ago, as six of the nine counties in that region experienced a price drop last month.
  • Home prices continued to grow on a year-over-year basis throughout the state, with median sales price in 36 counties registering price increase from a year ago in August. Trinity (36.6 percent) posted the biggest increase in price last month, followed by Plumas (32.9 percent) and Imperial (22.0 percent). Sixteen counties recorded annual median price declines, with Santa Barbara dropping the most at 18.0 percent, followed by Mariposa (-14.6 percent), and Amador (-12.0 percent).

  • The statewide unsold inventory index (UII), which measures the number of months needed to sell the supply of homes on the market at the current sales rate, increased both month-over-month and year-over-year. The index was 3.2 months in August, up from 2.9 months in July and up from 2.4 months in August 2023. Active listings at the state level rose more than 39 percent from the year-ago level. It was the seventh straight month of annual gains in for-sale properties.
  • At the county level, the availability of homes for sale increased from the same month of last year in all but four counties in August. Alameda (124.4 percent) posted the biggest year-over-year jump, followed by Contra-Costa (96.9 percent) and Stanislaus (63.9 percent). The only counties that recorded a decline from last year were Glenn (-27.9 percent), Kings (-25.5 percent), Trinity (-7.7 percent) and San Francisco (-6.1 percent).
  • New active listings at the state level improved from a year ago for the eighth consecutive month, with seven of them recording double-digit increases. Despite a decelerating growth rate in August, the increase in new listings at the tail end of the buying season is an encouraging sign that supply conditions in California will continue to improve in the coming months. Thirty-eight of the 52 counties tracked by C.A.R. recorded an increase in new active listings from a year ago. Calaveras recorded the largest year-over-year increase at 91.8 percent, followed by Kern (48.8 percent) and Del Norte (42.1percent). Thirteen counties marked declines in new active listings from a year ago, with Lassen (-37.5 percent) dropping the most, followed by Siskiyou (-33.8 percent) and Amador (-25.5 percent).
  • The median number of days it took to sell a California single-family home was 22 days in August, up from a revised 17.5 days in August 2023.
  • C.A.R.'s statewide sales-price-to-list-price ratio* was 100.0 percent in August 2024 and 100.0 percent in August 2023.
  • The statewide median price per square foot** for an existing single-family home was $427, up from $416 in August a year ago.
  • The 30-year, fixed-mortgage interest rate averaged 6.50 percent in August, down from 7.07 percent in August 2023, according to C.A.R.'s calculations based on Freddie Mac's weekly mortgage survey data.

Note:  The County MLS median price and sales data in the tables are generated from a survey of more than 90 associations of REALTORS® throughout the state and represent statistics of existing single-family detached homes only. County sales data is not adjusted to account for seasonal factors that can influence home sales. Movements in sales prices should not be interpreted as changes in the cost of a standard home. The median price is where half sold for more and half sold for less; medians are more typical than average prices, which are skewed by a relatively small share of transactions at either the lower end or the upper end. Median prices can be influenced by changes in cost, as well as changes in the characteristics and the size of homes sold. The change in median prices should not be construed as actual price changes in specific homes.

*Sales-to-list-price ratio is an indicator that reflects the negotiation power of home buyers and home sellers under current market conditions. The ratio is calculated by dividing the final sales price of a property by its original list price and is expressed as a percentage. A sales-to-list ratio with 100 percent or above suggests that the property sold for more than the list price, and a ratio below 100 percent indicates that the price sold below the asking price.

**Price per square foot is a measure commonly used by real estate agents and brokers to determine how much a square foot of space a buyer will pay for a property. It is calculated as the sale price of the home divided by the number of finished square feet. C.A.R. currently tracks price-per-square foot statistics for 53 counties.

Leading the way…® in California real estate for nearly 120 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with more than 200,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

# # #

August 2024 County Sales and Price Activity
(Regional and condo sales data not seasonally adjusted)

August 2024

Median Sold Price of Existing Single-Family Homes

Sales

State/Region/County

Aug.

2024

July

2024

 

Aug.

2023

 

Price MTM% Chg

Price YTY% Chg

Sales MTM% Chg

Sales YTY% Chg

Calif. Single-family home

$888,740

$886,560

 

$859,670

r

0.2%

3.4%

-6.3%

2.8%

Calif. Condo/Townhome

$665,000

$680,000

 

$657,000

 

-2.2%

1.2%

1.1%

0.8%

Los Angeles Metro Area

$827,000

$849,000

 

$792,500

 

-2.6%

4.4%

-5.7%

-3.5%

Central Coast

$1,035,000

$1,064,000

 

$950,000

 

-2.7%

8.9%

-1.7%

3.0%

Central Valley

$500,000

$500,000

 

$485,000

 

0.0%

3.1%

-4.9%

0.8%

Far North

$397,250

$386,450

 

$369,000

 

2.8%

7.7%

-3.9%

-5.0%

Inland Empire

$585,260

$600,000

 

$569,990

 

-2.5%

2.7%

-7.1%

-3.4%

San Francisco Bay Area

$1,240,000

$1,300,000

 

$1,260,000

 

-4.6%

-1.6%

-8.3%

4.8%

Southern California

$863,500

$881,000

 

$830,000

 

-2.0%

4.0%

-5.3%

-2.3%

 

 

 

 

 

 

 

 

 

 

San Francisco Bay Area

 

 

 

 

 

 

 

 

 

Alameda

$1,272,500

$1,280,000

 

$1,250,000

 

-0.6%

1.8%

-12.6%

1.4%

Contra Costa

$841,950

$916,500

 

$844,440

 

-8.1%

-0.3%

-0.4%

1.0%

Marin

$1,450,000

$1,594,000

 

$1,475,000

 

-9.0%

-1.7%

-29.9%

7.0%

Napa

$976,500

$1,052,500

 

$1,055,000

 

-7.2%

-7.4%

-7.0%

-12.0%

San Francisco

$1,528,500

$1,600,000

 

$1,576,000

 

-4.5%

-3.0%

-24.4%

9.7%

San Mateo

$1,900,000

$2,100,000

 

$1,950,000

 

-9.5%

-2.6%

-0.4%

3.3%

Santa Clara

$1,851,830

$1,880,000

 

$1,852,500

 

-1.5%

0.0%

-7.0%

7.1%

Solano

$600,000

$586,400

 

$599,000

 

2.3%

0.2%

-6.1%

7.4%

Sonoma

$809,160

$850,000

 

$850,000

 

-4.8%

-4.8%

-5.8%

15.3%

Southern California

 

 

 

 

 

 

 

 

 

Imperial

$410,640

$385,000

 

$336,500

 

6.7%

22.0%

32.3%

-21.2%

Los Angeles

$919,890

$909,010

 

$882,010

r

1.2%

4.3%

-3.2%

0.0%

Orange

$1,400,000

$1,390,000

 

$1,310,000

 

0.7%

6.9%

-6.5%

-7.3%

Riverside

$630,000

$650,000

 

$618,000

 

-3.1%

1.9%

-8.4%

-4.2%

San Bernardino

$515,000

$515,000

 

$495,000

 

0.0%

4.0%

-4.9%

-2.0%

San Diego

$1,010,000

$1,020,000

 

$1,000,000

 

-1.0%

1.0%

-4.7%

3.2%

Ventura

$965,000

$972,000

 

$915,000

 

-0.7%

5.5%

-10.5%

-13.8%

Central Coast

 

 

 

 

 

 

 

 

 

Monterey

$900,000

$945,000

 

$897,000

 

-4.8%

0.3%

0.0%

-16.1%

San Luis Obispo

$942,500

$1,035,000

 

$868,810

 

-8.9%

8.5%

-2.9%

9.9%

Santa Barbara

$1,062,450

$827,500

 

$1,295,000

 

28.4%

-18.0%

-3.4%

11.1%

Santa Cruz

$1,300,000

$1,355,000

 

$1,200,000

 

-4.1%

8.3%

0.8%

9.1%

Central Valley

 

 

 

 

 

 

 

 

 

Fresno

$434,940

$420,000

 

$425,000

 

3.6%

2.3%

-8.3%

5.2%

Glenn

$325,000

$330,500

 

$321,000

 

-1.7%

1.2%

-6.3%

25.0%

Kern

$399,500

$413,000

 

$394,500

 

-3.3%

1.3%

-8.7%

-1.3%

Kings

$380,000

$369,000

 

$382,500

 

3.0%

-0.7%

-11.1%

5.9%

Madera

$430,750

$424,350

 

$453,000

 

1.5%

-4.9%

-24.0%

-20.3%

Merced

$415,000

$413,500

 

$385,000

 

0.4%

7.8%

-8.1%

6.8%

Placer

$675,000

$670,000

 

$669,000

 

0.7%

0.9%

-2.5%

-0.2%

Sacramento

$559,000

$560,000

 

$535,000

 

-0.2%

4.5%

-2.6%

4.0%

San Benito

$812,500

$778,000

 

$777,550

 

4.4%

4.5%

-8.1%

-8.1%

San Joaquin

$560,000

$585,000

 

$535,000

 

-4.3%

4.7%

9.9%

13.3%

Stanislaus

$475,000

$485,000

 

$465,000

 

-2.1%

2.2%

-11.0%

-7.3%

Tulare

$380,000

$380,000

 

$372,000

 

0.0%

2.2%

-6.5%

-14.2%

Far North

 

 

 

 

 

 

 

 

 

Butte

$458,000

$430,000

 

$436,250

 

6.5%

5.0%

22.5%

21.1%

Lassen

$236,000

$265,000

 

$225,000

 

-10.9%

4.9%

-6.3%

-34.8%

Plumas

$547,420

$528,000

 

$412,000

 

3.7%

32.9%

21.2%

-16.7%

Shasta

$383,300

$394,450

 

$365,000

 

-2.8%

5.0%

-14.3%

-7.9%

Siskiyou

$305,500

$326,770

 

$305,500

 

-6.5%

0.0%

-15.9%

15.6%

Tehama

$380,000

$290,000

 

$312,050

 

31.0%

21.8%

-13.8%

-21.9%

Trinity

$280,000

$297,500

 

$205,000

 

-5.9%

36.6%

-12.5%

-50.0%

Other Calif. Counties

 

 

 

 

 

 

 

 

 

Amador

$431,000

$399,000

 

$490,000

 

8.0%

-12.0%

6.7%

-15.8%

Calaveras

$505,000

$474,000

 

$475,000

 

6.5%

6.3%

-3.5%

7.8%

Del Norte

$450,000

$400,000

 

$382,500

 

12.5%

17.6%

0.0%

-16.7%

El Dorado

$650,000

$695,000

 

$657,000

 

-6.5%

-1.1%

3.5%

-16.3%

Humboldt

$434,500

$442,500

 

$421,920

 

-1.8%

3.0%

1.8%

21.7%

Lake

$329,950

$350,000

 

$325,000

 

-5.7%

1.5%

0.0%

-11.4%

Mariposa

$410,000

$472,500

 

$480,000

 

-13.2%

-14.6%

-8.3%

-45.0%

Mendocino

$567,500

$549,500

 

$560,000

 

3.3%

1.3%

-10.0%

25.6%

Mono

$1,160,000

$680,000

 

$970,000

 

70.6%

19.6%

-18.2%

12.5%

Nevada

$560,000

$609,480

 

$555,000

 

-8.1%

0.9%

-20.5%

-18.5%

Sutter

$416,500

$435,000

 

$425,000

 

-4.3%

-2.0%

41.7%

-22.7%

Tuolumne

$420,950

$385,000

 

$389,500

 

9.3%

8.1%

2.9%

-25.5%

Yolo

$620,960

$610,000

 

$622,500

 

1.8%

-0.2%

0.0%

1.7%

Yuba

$448,000

$438,400

 

$449,500

 

2.2%

-0.3%

11.8%

37.1%

r = revised
NA = not available

  

August 2024 County Unsold Inventory and Days on Market
(Regional and condo sales data not seasonally adjusted)

August 2024

Unsold Inventory Index

Median Time on Market

State/Region/County

Aug.

2024

July

2024

 

Aug.

2023

 

Aug.

2024

July

2024

 

Aug.

2023

 

Calif. Single-family home

3.2

2.9

 

2.4

 

22.0

20.0

 

17.5

r

Calif. Condo/Townhome

3.2

3.0

 

2.2

 

25.0

22.0

 

16.0

 

Los Angeles Metro Area

3.3

3.0

 

2.4

 

24.0

22.0

 

20.0

 

Central Coast

3.5

3.3

 

2.9

 

21.0

18.0

 

15.0

 

Central Valley

3.0

2.8

 

2.3

 

22.0

19.0

 

16.0

 

Far North

4.8

4.6

 

4.2

 

31.0

33.0

 

27.0

 

Inland Empire

3.8

3.4

 

2.9

 

29.0

27.0

 

22.0

 

San Francisco Bay Area

2.5

2.0

 

1.9

 

20.0

17.0

 

14.0

 

Southern California

3.2

2.9

 

2.3

 

22.0

21.0

 

18.0

 

 

 

 

 

 

 

 

 

 

 

 

San Francisco Bay Area

 

 

 

 

 

 

 

 

 

 

Alameda

2.4

1.6

 

1.4

 

14.0

13.0

 

12.0

 

Contra Costa

2.4

1.8

 

1.4

 

16.0

13.0

 

12.0

 

Marin

3.5

1.8

 

3.0

 

52.0

57.0

 

45.0

 

Napa

6.4

5.5

 

4.5

 

61.5

63.0

 

60.0

 

San Francisco

2.5

1.4

 

2.9

 

41.5

27.0

 

47.0

 

San Mateo

2.1

2.0

 

2.1

 

12.0

12.0

 

12.0

 

Santa Clara

1.7

1.6

 

1.6

 

10.0

9.0

 

8.0

 

Solano

2.9

2.7

 

2.3

 

39.5

44.0

 

29.0

 

Sonoma

3.4

3.1

 

3.1

 

54.5

54.0

 

62.0

 

Southern California

 

 

 

 

 

 

 

 

 

 

Imperial

3.0

3.4

 

NA

 

8.0

24.0

 

14.0

 

Los Angeles

3.1

3.0

 

2.4

 

21.0

19.0

 

18.0

 

Orange

2.7

2.5

 

2.0

 

22.0

20.0

 

18.0

 

Riverside

3.5

3.1

 

2.5

 

29.0

28.0

 

23.0

 

San Bernardino

4.3

4.0

 

3.5

 

29.0

25.0

 

21.0

 

San Diego

2.8

2.6

 

1.9

 

17.0

16.0

 

13.0

 

Ventura

3.3

2.8

 

2.1

 

32.0

30.0

 

25.0

 

Central Coast

 

 

 

 

 

 

 

 

 

 

Monterey

4.1

3.8

 

2.7

 

18.0

17.0

 

13.5

 

San Luis Obispo

3.2

2.9

 

2.9

 

27.0

23.0

 

22.0

 

Santa Barbara

3.4

3.3

 

2.9

 

19.5

16.5

 

13.0

 

Santa Cruz

3.3

3.2

 

2.9

 

18.0

17.0

 

14.0

 

Central Valley

 

 

 

 

 

 

 

 

 

 

Fresno

3.3

2.9

 

2.8

 

21.0

15.0

 

12.0

 

Glenn

2.8

2.6

 

4.4

 

24.0

27.0

 

9.5

 

Kern

2.9

2.5

 

2.1

 

15.0

19.0

 

11.0

 

Kings

2.2

2.1

 

2.6

 

28.0

17.0

 

12.0

 

Madera

5.7

4.2

 

3.7

 

28.0

23.0

 

27.0

 

Merced

3.3

2.8

 

3.2

 

33.0

23.5

 

20.0

 

Placer

2.9

2.8

 

2.2

 

28.0

21.0

 

24.0

 

Sacramento

2.5

2.4

 

1.9

 

21.0

19.0

 

14.0

 

San Benito

4.5

3.9

 

3.5

 

31.5

23.0

 

34.0

 

San Joaquin

3.0

3.1

 

2.4

 

24.0

19.0

 

17.0

 

Stanislaus

3.2

2.8

 

2.1

 

16.5

16.5

 

14.0

 

Tulare

3.0

2.8

 

2.2

 

24.0

20.0

 

17.0

 

Far North

 

 

 

 

 

 

 

 

 

 

Butte

3.1

3.8

 

2.9

 

20.0

16.0

 

19.0

 

Lassen

8.5

8.4

 

5.2

 

64.0

63.5

 

35.0

 

Plumas

5.4

6.6

 

4.0

 

24.0

36.0

 

32.0

 

Shasta

4.3

3.6

 

3.7

 

34.0

27.5

 

23.0

 

Siskiyou

7.4

6.7

 

8.0

 

40.0

53.5

 

27.0

 

Tehama

6.2

4.8

 

4.2

 

42.0

69.0

 

65.0

 

Trinity

14.9

12.9

 

8.4

 

65.0

61.0

 

43.5

 

Other Calif. Counties

 

 

 

 

 

 

 

 

 

 

Amador

6.3

7.0

 

4.5

 

30.0

38.0

 

39.0

 

Calaveras

4.8

4.6

 

3.3

 

34.0

30.5

 

25.0

 

Del Norte

7.7

8.1

 

5.0

 

29.0

49.0

 

20.5

 

El Dorado

4.3

4.6

 

2.9

 

29.5

25.0

 

21.0

 

Humboldt

5.2

5.4

 

5.2

 

36.5

20.0

 

16.5

 

Lake

7.2

6.8

 

6.0

 

44.0

35.0

 

45.0

 

Mariposa

10.6

10.1

r

5.3

 

27.0

37.0

 

27.5

 

Mendocino

7.1

6.4

 

7.4

 

68.5

53.0

 

71.0

 

Mono

4.1

3.2

 

4.8

 

38.0

29.0

 

23.5

 

Nevada

5.3

3.9

 

3.3

 

36.0

42.5

 

35.0

 

Sutter

3.2

4.4

 

2.0

 

22.0

24.5

 

22.5

 

Tuolumne

6.0

5.6

 

3.7

 

23.0

27.5

 

35.0

 

Yolo

2.7

2.6

 

2.3

 

19.0

19.0

 

17.0

 

Yuba

3.5

4.2

 

3.5

 

26.0

30.5

 

17.0

 

r = revised
NA = not available

Article belongs to CAR.org

September
12

Should I Buy a House Now or Wait? Key Questions to Consider

by 

Click Here to Read More...

⇦ Newer PostsOlder Posts ⇨

Login to My Homefinder

Pixel