DataQuick News reports California January Home Sales
An estimated 27,858 new and resale houses and condos were sold statewide last month. That was down 33.4 percent from 41,837 in December, and down 5.4 percent from 29,458 for January 2009. A decrease in sales from December to January is normal for the season. California sales for the month of January have varied from a low of 19,145 in 2008 to a peak of 47,137 in 2004, while the average is 32,048. MDA DataQuick’s statistics go back to 1988.
The median price paid for a home last month was $247,000, down 6.4 percent from $264,000 in December, and up 10.3 percent from $224,000 for January a year ago. Because of shifts in market mix, the statewide median always drops from December to January. The January median’s year-over-year increase was the third in a row, following 27 months of year-over-year declines. The median peaked at $484,000 in early 2007 and hit a low of $221,000 last April.
Of the existing homes sold last month, 44.0 percent were properties that had been foreclosed on during the past year. That was up from 40.8 percent in December and down from 58.2 percent in January a year ago. Foreclosure resales peaked at 58.8 percent last February.
