2006 California Median Home Prices

If you're looking for the 2006 California Median Home Prices, please click on the corresponding month on the left navigation bar.

Below is a summary of news released by the California Association of Realtors in regards to the home market trends in California.

Conditions in the statewide housing market stabilized in December 2006
sales edged down and the California median price showed a slight gain
premature to say that the market had bottomed out and that a rebound is in sight.
Sales dropped from 450,930 homes in November to 450,550
CA statewide market suffered a 23.6% decline in sales for all of 2006 to 477,460 homes.
CA median home price in 2006increased 6.5% from $522,670 in 2005 to $556,640.
Unsold Inventory Index averaged 6.4 months in 2006, more than double the 2.9 month inventory average of 2005.
Listings increased by 61% from 2005 to 2006,
For 2006, the median Time on Market rose to 51 days from 32 days in 2005.
The share of homes on the market less than 30 days fell significantly from 49% in 2005 to 32 % in 2006
The share of homes on the market over 90 days rose from 11.5% in 2005 to 23.9% in 2006.
Market remains on target with a projected 7% decline in sales in 2007 and a 2% dip in the statewide median price.

April 2006

Median home price in CA increased 13% to $561,350 in March 2006 when compared to a year ago.
The March 2006 median price increased 4.8% compared with February's $535,480 median price.
Sales declined 15% when compared to a year ago
Unsold Inventory Index for existing, single-family detached homes in March 2006 was 4.8 months, compared with 2.2 months a year ago.
The median number of days it took to sell a single-family home was 44 days in March 2006, compared with 30 days a year ago.
Mmedian price in Central Valley increasedjust 8.1%to $350,930 while sales dropped 24% compared to March 2005.

March 2006

Sales continued to decline in January 2006
Sales of existing detached single-family homes declined 24.1% from 659,410 units in January 2005 to 500,474 units in January 2006
Sales dropped about 31,000 units, or 5.9% month-to-month compared to December 2005
The median price of an existing detached home continued to grow on a year-to-year basis, increasing 13.8% from $484,580 in January 2005 to $551,300 in January 2006.
The median increased 0.5% from the December 2005 median of $548,640.
The unsold inventory index in January was 6.0 months, higher than the 3.6 months in December 2005 and nearly double the 3.2 months from January 2005.
That was the highest since February 1999 when the unsold inventory index was also 6.0 months

February 2006

CA set a new record for both home sales and the median price in 2005.
Sales for all of 2005 finished at 624,960 units,slightly higher than the prior record of 624,740 set in 2004.
The annual median price in California increased from $450,780 in 2004 to $524,020 in 2005.
Price appreciation was 16.4% in 2005 compared to 18 to 21% in prior 3 years.

January 2006

Sales of detached existing single family homes fell to 579,560 units in November, a 6.8% month-to-month decline from October 2005 sales of 621,530 homes, and a 11.2% year-to-year decline compared to November 2004 sales of 652,340 homes.
The statewide median price rose 16.2% from $471,980 in Nov 2004 to $548,400 in Nov 2005.