California detached home sales decreased 31.7 percent in September compared to the year previous, the California Association of Realtors reported today. The median price of an existing, detached home rose 1.8 percent to $553,050 during the same period.
On the attached market, the condo median price increased 0.5 percent to $427,330, and that market saw a 33.4 percent decline in sales.
The CAR said this news is not surprising. From a press release statement:
“We expected a fairly steep decline in sales last month compared with a year ago, when sales were near their all-time record,” said C.A.R. President Vince Malta.
Read more data analysis, including state regional breakdowns, in the CAR press release.