Le Lézard
Classified in: Business
Subjects: ECO, STP

Despite a new record price, growth slowed and pending sales dipped for first time since May 2020, C.A.R. reports


LOS ANGELES, July 16, 2021 /PRNewswire/ -- Despite an impressive performance in the first six months of the year, the market momentum appears to be moderating with existing home sales dipping for the second month in a row, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 436,020 in June, 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 2021 if sales maintained the June pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

June home sales dipped 2.2 percent on a monthly basis from 445,660 in May but were up 28.3% percent from a year ago, when 339,910 homes were sold on an annualized basis. With strong sales growth in June, the state housing market ended the first half of the year with a year-to-date increase of 33.6 percent. Higher-priced markets continued to do well while sales of lower-priced properties remained below last year's levels. 

"We're starting to see what a difference just a slight uptick in inventory and listings can do to help lessen the buying frenzy and create a sense of normalcy," said C.A.R. President Dave Walsh. "The market is still extremely competitive, with 70 percent of homes selling above list price; however, the number of new listings increased in June, and both the share of listings with a reduced price and median reduction amount increased, giving buyers more opportunities to purchase."

California's median home price set a new record high for the fourth straight month in June as the median price slightly increased 0.2 percent on a month-to-month basis to $819,630 in June, up from May's $818,260 and up 30.9% from the $626,170 recorded last June. The median price in California also remained above the $800,000 benchmark for the third consecutive month.

The pace of growth in home prices appeared to be decelerating, however, as the change between May and June remained below one percent, and the increase was the smallest in the past four months.  On a month-to-month basis, the statewide median price increase in June 2021 was slightly below the average May-to-June growth rate of 1.0 percent observed between 1979 and 2020.   

"On a year-over-year basis, the statewide median price increased more than 30 percent for the third consecutive month. Tight supply, low rates and the change in the mix of sales continue to be the primary factors pushing up home prices to record levels," said C.A.R. Vice President and Chief Economist Jordan Levine. "However, we are expecting price growth to slow from this point on as the top end of the market begins moderating. With pending sales down for the first time in 14 months, closed sales ? which have been declined 5 out of the last 6 months ? will likely remain lackluster as the market enters the second half of the year."  

Other key points from C.A.R.'s June 2021 resale housing report include:

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 are 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 last 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 50 counties.

Leading the way...® in California real estate for more than 110 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.


June-21

Median Sold Price of Existing Single-Family Homes

Sales

State/Region/County

Jun-21

May-21


Jun-20


Price
MTM%
Chg

Price
YTY%
Chg

 Sales
MTM%
Chg

 Sales
YTY%
Chg

CA SFH (SAAR)

$819,630

$818,260


$626,170


0.2%

30.9%

-2.2%

28.3%

CA Condo/Townhomes

$600,000

$592,000


$486,250


1.4%

23.4%

7.9%

60.6%

Los Angeles Metropolitan Area

$737,500

$725,000


$553,000


1.7%

33.4%

10.4%

35.1%

Central Coast

$890,000

$900,000


$736,500


-1.1%

20.8%

9.7%

26.6%

Central Valley

$452,000

$445,000


$365,000


1.6%

23.8%

10.7%

10.5%

Far North

$380,000

$365,000


$311,500


4.1%

22.0%

16.8%

17.6%

Inland Empire

$525,000

$510,000


$410,000


2.9%

28.0%

10.9%

17.0%

S.F. Bay Area

$1,350,000

$1,340,000


$1,000,000


0.7%

35.0%

10.9%

34.1%

Southern California

$766,000

$752,250


$588,000


1.8%

30.3%

11.5%

33.9%











S.F. Bay Area

Jun-21

May-21


Jun-20


Price
MTM%
Chg

Price
YTY%
Chg

 Sales
MTM%
Chg

 Sales
YTY%
Chg

Alameda

$1,300,000

$1,312,500


$976,000


-1.0%

33.2%

6.9%

44.8%

Contra Costa

$990,000

$1,015,000


$750,500


-2.5%

31.9%

10.0%

29.2%

Marin

$1,712,500

$1,632,500


$1,490,000


4.9%

14.9%

16.2%

0.0%

Napa

$955,500

$837,500


$725,000


14.1%

31.8%

17.2%

52.8%

San Francisco

$1,950,000

$1,900,000


$1,805,000


2.6%

8.0%

24.0%

87.1%

San Mateo

$2,275,000

$2,075,000


$1,735,000


9.6%

31.1%

3.8%

34.7%

Santa Clara

$1,750,000

$1,675,000


$1,382,000


4.5%

26.6%

9.6%

47.0%

Solano

$575,000

$579,000


$496,750


-0.7%

15.8%

21.9%

-7.8%

Sonoma

$825,000

$780,000


$708,800


5.8%

16.4%

13.6%

33.7%

Southern California

Jun-21

May-21


Jun-20


Price
MTM%
Chg

Price
YTY%
Chg

 Sales
MTM%
Chg

 Sales
YTY%
Chg

Los Angeles

$796,120

$725,680


$619,320

r

9.7%

28.5%

8.5%

42.4%

Orange

$1,138,000

$1,100,000


$870,000


3.5%

30.8%

13.7%

61.6%

Riverside

$575,000

$560,000


$450,000


2.7%

27.8%

7.2%

17.0%

San Bernardino

$435,000

$410,000


$325,000


6.1%

33.8%

17.7%

17.0%

San Diego

$865,000

$851,000


$678,000


1.6%

27.6%

16.0%

29.2%

Ventura

$840,000

$806,000


$700,000


4.2%

20.0%

9.5%

40.7%

Central Coast

Jun-21

May-21


Jun-20


Price
MTM%
Chg

Price
YTY%
Chg

 Sales
MTM%
Chg

 Sales
YTY%
Chg

Monterey

$862,500

$887,000


$740,000


-2.8%

16.6%

14.9%

48.0%

San Luis Obispo

$799,000

$775,000


$645,500


3.1%

23.8%

18.2%

40.9%

Santa Barbara

$935,000

$1,299,000


$671,750


-28.0%

39.2%

-6.1%

5.6%

Santa Cruz

$1,175,000

$1,300,000


$905,000


-9.6%

29.8%

12.9%

14.7%

Central Valley

Jun-21

May-21


Jun-20


Price
MTM%
Chg

Price
YTY%
Chg

 Sales
MTM%
Chg

 Sales
YTY%
Chg

Fresno

$375,000

$361,500


$313,950


3.7%

19.4%

13.2%

12.4%

Glenn

$310,000

$384,000


$295,000


-19.3%

5.1%

-18.2%

-57.1%

Kern

$325,000

$317,000


$275,000


2.5%

18.2%

9.2%

21.6%

Kings

$295,000

$315,000


$265,000


-6.3%

11.3%

8.0%

13.7%

Madera

$357,500

$360,000


$300,000


-0.7%

19.2%

8.9%

3.7%

Merced

$360,000

$350,000


$300,000


2.9%

20.0%

17.4%

10.9%

Placer

$670,500

$663,450


$515,000


1.1%

30.2%

11.7%

12.4%

Sacramento

$525,000

$500,000


$417,000


5.0%

25.9%

12.1%

13.0%

San Benito

$794,690

$810,000


$586,400


-1.9%

35.5%

25.4%

45.1%

San Joaquin

$515,000

$500,000


$415,000


3.0%

24.1%

7.0%

14.6%

Stanislaus

$430,000

$440,000


$355,000


-2.3%

21.1%

11.4%

-4.6%

Tulare

$335,000

$324,350


$270,000


3.3%

24.1%

2.5%

-6.9%

Far North

Jun-21

May-21


Jun-20


Price
MTM%
Chg

Price
YTY%
Chg

 Sales
MTM%
Chg

 Sales
YTY%
Chg

Butte

$438,000

$449,000


$390,000


-2.4%

12.3%

16.1%

2.9%

Lassen

$244,950

$247,450


$225,000


-1.0%

8.9%

41.7%

36.0%

Plumas

$395,000

$423,000


$305,000


-6.6%

29.5%

-5.6%

13.3%

Shasta

$365,000

$360,000


$295,000


1.4%

23.7%

12.6%

17.6%

Siskiyou

$300,000

$289,000


$213,500


3.8%

40.5%

69.8%

73.8%

Tehama

$318,500

$348,000


$240,000


-8.5%

32.7%

10.6%

15.6%

Other Counties in California

Jun-21

May-21


Jun-20


Price
MTM%
Chg

Price
YTY%
Chg

 Sales
MTM%
Chg

 Sales
YTY%
Chg

Amador

$461,000

$427,500


$337,500


7.8%

36.6%

-4.2%

-2.8%

Calaveras

$488,280

$473,800


$363,000


3.1%

34.5%

26.9%

37.5%

Del Norte

$358,500

$415,000


$242,000


-13.6%

48.1%

200.0%

80.0%

El Dorado

$702,000

$688,000


$510,000


2.0%

37.6%

12.3%

16.1%

Humboldt

$420,000

$400,000


$317,000


5.0%

32.5%

19.4%

35.1%

Lake

$335,000

$360,000


$322,500


-6.9%

3.9%

24.4%

23.0%

Mariposa

$409,700

$415,000


$370,400


-1.3%

10.6%

-18.2%

12.5%

Mendocino

$582,500

$602,500


$425,000


-3.3%

37.1%

16.0%

13.7%

Mono

$822,500

$1,140,000


$720,000


-27.9%

14.2%

20.0%

100.0%

Nevada

$566,000

$563,250


$433,750


0.5%

30.5%

18.0%

9.3%

Sutter

$395,000

$410,000


$341,000


-3.7%

15.8%

-17.3%

-6.9%

Tuolumne

$413,820

$390,700


$305,000


5.9%

35.7%

22.1%

47.7%

Yolo

$616,000

$617,500


$475,000


-0.2%

29.7%

14.5%

4.2%

Yuba

$430,100

$400,000


$328,950


7.5%

30.7%

6.9%

16.0%


Note: The MLS median price and sales data in the table below 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.   sales data are 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.  Median prices can be influenced by changes in cost, as well as changes in the characteristics and the size of homes sold.  Due to the low sales volume in some areas, median price changes may exhibit unusual fluctuation.


Los Angeles Metropolitan Area is a 5- region that includes Los Angeles , Orange , Riverside , San Bernardino , and Ventura

S.F. Bay Area has been redefined to include the following counties: Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano, and Sonoma

Inland Empire includes Riverside and San Bernardino


Note: "r" = revised

 

June-21

Unsold Inventory Index

Median Time on Market



State/Region/County

Jun-21

May-21


Jun-20


Jun-21

May-21


Jun-20




CA SFH (SAAR)

1.7

1.8


2.7


8.0

7.0


19.0




CA Condo/Townhomes

1.6

1.7


3.4


8.0

8.0


21.0




Los Angeles Metropolitan Area

1.7

1.9


3.1


8.0

8.0


23.0




Central Coast

1.9

2.0


3.5


8.0

9.0


25.0




Central Valley

1.6

1.6


2.2


7.0

6.0


14.0




Far North

2.3

2.5


3.5


11.0

11.0


30.0




Inland Empire

1.7

1.9


2.8


8.0

8.0


29.0




S.F. Bay Area

1.4

1.5


2.3


9.0

8.0


18.0




Southern California

1.7

1.8


2.9


7.0

7.0


20.0

















S.F. Bay Area

Jun-21

May-21


Jun-20


Jun-21

May-21


Jun-20




Alameda

1.3

1.3


1.9


8.0

8.0


13.0




Contra Costa

1.2

1.2


1.9


7.0

7.0


14.0




Marin

1.1

1.5


2.4


11.0

11.0


27.0




Napa

2.2

2.8


5.7


33.5

29.0


52.0




San Francisco

1.4

1.8


2.9


12.0

11.0


19.0




San Mateo

1.4

1.5


2.4


7.0

8.0


10.0




Santa Clara

1.3

1.5


2.1


8.0

7.0


11.0




Solano

1.2

1.4


2.0


21.0

21.0


34.0




Sonoma

1.9

2.0


3.4


31.0

29.0


40.0




Southern California

Jun-21

May-21


Jun-20


Jun-21

May-21


Jun-20




Los Angeles

1.8

2.0


3.0


8.0

8.0


17.0




Orange

1.5

1.6


3.5


7.0

7.0


20.0




Riverside

1.7

1.7


2.7


8.0

8.0


27.0




San Bernardino

1.9

2.2


2.8


8.0

8.0


33.0




San Diego

1.5

1.6


2.2


6.0

7.0


12.0




Ventura

1.8

1.9


4.6


21.0

22.0


42.0




Central Coast

Jun-21

May-21


Jun-20


Jun-21

May-21


Jun-20




Monterey

2.1

2.4


4.6


9.0

9.5


25.0




San Luis Obispo

1.8

2.1


3.8


6.0

6.0


27.5




Santa Barbara

2.0

1.6


3.2


9.0

9.0


27.0




Santa Cruz

1.7

2.0


2.5


9.0

10.0


19.0




Central Valley

Jun-21

May-21


Jun-20


Jun-21

May-21


Jun-20




Fresno

1.7

1.7


2.1


6.0

6.0


15.0




Glenn

5.0

3.6


2.9


4.0

8.0


25.0




Kern

1.6

1.7


2.3


7.0

6.0


14.0




Kings

1.5

1.6


2.1


5.0

5.0


8.0




Madera

2.0

2.2


3.1


8.0

8.5


29.0




Merced

1.6

1.7


2.7


7.0

7.0


12.0




Placer

1.4

1.4


2.2


6.0

6.0


14.0




Sacramento

1.4

1.4


1.9


6.0

6.0


10.0




San Benito

1.8

2.0


3.4


8.0

9.0


51.0




San Joaquin

1.7

1.6


2.4


7.0

7.0


16.0




Stanislaus

1.7

1.7


1.7


7.0

6.0


14.0




Tulare

1.7

1.7


2.1


7.0

7.0


23.0




Far North

Jun-21

May-21


Jun-20


Jun-21

May-21


Jun-20




Butte

1.9

2.1


2.1


6.0

7.0


14.0




Lassen

3.9

5.9


5.8


72.0

67.0


106.0




Plumas

4.0

3.6


8.1


63.0

61.0


99.0




Shasta

2.0

2.2


3.0


9.0

8.0


23.0




Siskiyou

2.5

3.5


5.8


7.5

7.5


39.0




Tehama

2.4

2.6


4.0


28.5

32.0


71.0




Other Counties in California

Jun-21

May-21


Jun-20


Jun-21

May-21


Jun-20




Amador

2.4

2.2


4.0


11.0

8.5


45.0




Calaveras

2.1

2.4


4.4


49.0

48.5


79.0




Del Norte

3.3

9.9


9.7


92.5

67.0


132.0




El Dorado

1.8

1.7


3.2


9.0

7.0


31.0




Humboldt

2.1

2.3


3.8


8.5

7.0


9.5




Lake

3.0

3.8


4.6


12.0

9.0


48.0




Mariposa

3.8

3.0


5.6


7.5

10.0


66.0




Mendocino

3.4

3.9


5.8


36.0

38.5


55.0




Mono

3.9

3.7


11.6


57.5

61.0


82.0




Nevada

2.1

2.3


3.4


9.0

8.0


21.5




Sutter

2.4

1.7


1.7


8.0

7.0


21.5




Tuolumne

2.6

3.0


4.8


10.0

9.0


31.5




Yolo

1.2

1.5


2.1


7.0

7.0


19.0




Yuba

1.7

1.6


1.9


6.0

6.0


16.0




Note: The  MLS median price and sales data in the table below 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.   sales data are 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.  Median prices can be influenced by changes in cost, as well as changes in the characteristics and the size of homes sold.  Due to the low sales volume in some areas, median price changes may exhibit unusual fluctuation.


Los Angeles Metropolitan Area is a 5- region that includes Los Angeles , Orange , Riverside , San Bernardino , and Ventura


S.F. Bay Area has been redefined to include the following counties: Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano, and Sonoma


Inland Empire includes Riverside  and San Bernardino



 

SOURCE CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.)


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