Monday Market Update: Summer Sales Update (California)

As we bid farewell to the summer season, these are the state sales stats that closed it out!

Can you believe that fall is almost here!? As we prepare to welcome a new season, we wanted to share where home sales statistics have taken us through the end of summer. Below you will find the latest state sales and price report courtesy of the California Association of Realtors®.

Note that while home prices are accelerating at a slower pace, the price per square foot now resides at an all-time high of $395. In addition, 2/3 of homes sold above asking price in August; keep in mind that this data represents statewide averages and our own Silicon Valley region and micro markets within depict even higher percentages of list price over asking* as well as much higher costs per square foot*.

* In San Mateo County, August % of list price received was 109%, while median cost per square foot was $1,108.

If you have any questions at all about how the end of summer trends could impact your own fall beginnings, please do not hesitate to reach out!

Bobbi Decker
DRE#00607999

Broker Associate
650.346.5352 cell
650.577.3127 efax
www.bobbidecker.com
NAR Instructor….“Designations Create Distinctions”
CIPS, SRS, ABR, CRS, SRES, GRI, CLHMS, REI, AHWD, RSPS, MSLG

Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/