February 2011 California Home Sales Report Released!

By adminet • March 18th, 2011

As you know, last week we went over the February’s local Redding area real estate market trends…this week focuses on the data for ALL of California.  According to the California Association of Realtors (C.A.R.) closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 497,660 in February, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide.  February’s sales were down 9.0 percent from January’s revised pace of 547,080 and down 4.0 percent from the 518,390 sales pace recorded in February 2010.  The statewide sales figure represents what would be the total number of homes sold during 2011 if sales maintained the February pace throughout the year.  It is adjusted to account for seasonal factors that typically influence home sales.

The statewide median price of an existing, single-family detached home sold in California was $271,320, down 2.8 percent from a revised $279,140 in January and was down 2.5 percent from the $278,190 median price recorded for February 2010.  The February 2011 median price was the lowest since May 2009, when it was $263,440.

To read the entire article on the C.A.R. website  Click Here!

For more information on the local Redding market or to search the entire Shasta MLS database for homes visit our website at www.MyReddingRealEstate.com

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