Here are some of the highlights from the CAR November Report:
Home Price Appreciations have moderated since mid-2013
Price Per Square Foot is $277, Up 2.5% over October and up 8.9% YTY
Sales price-to-list price dips below 100% to 98.9%, up 0.7% from November 2016
Inventory declined annually for the 16th consecutive month
Supply was constrained across most price points, but was most noticeable in the low end market
Inventory continued to drop across all regions, especially in the Bay Area
California real estate sales transactions for November 2017 declined for the third straight month. November 2017 Sales were 440,340 units which represents a slight gain of 1.5% YTD. However, it also represented a 0.8% decline YTY. California home sales decreased as a whole in November, with Bay Area Sales increasing slightly while Southern California and Central Valley home sales were down. The trend of more homes being sold above the $500,000 mark compared to the same month of the year before continued in November. Consequently, sales improved in mid and high-priced markets but continued to decline in lower priced segments. California median home price continued to grow over last year. The November 2017 median price was $546,820, which is an increase of 0.1% over last month and is up 8.8% YTY.
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