Increase In California Home Sales

Los Angeles, CA–  Improvement in the economy and favorable market conditions this month, led to increases in both the median price and home sales in California.

According to data from the California Association of Realtors, the statewide median price of an existing, single-family detached home sold in California increased 5.4 percent in March. The current median price is $286,010 compared with February’s $271,320, and last year’s median home price of $300,900.

Closed escrow sales of existing, single-family detached homes in California totaled 514,000 units in March. Sales increased 3.1 percent month-over-month and 1.5 percent year-to-year.

In Tuolumne County, the median home price for March is $154,440, compared to $187,500 last month and $204,690 in 2010.  Sales decreased 17.6 percent month-over-month and increased 24.5 percent year-to-year.

Written by tina.falco@mlode.com