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California Housing Market

Update

Monthly Sales and Price Statistics
March 2017
Sales of Existing Detached Homes
California, Mar. 2017 Sales: 416,580 Units, +5.4% YTD, +6.9% YTY
700,000

600,000
Mar-16: Mar-17:
389,770 416,580
500,000

400,000

300,000

200,000

100,000

-

SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® *Sales are seasonally adjusted and annualized
California Sales (Jan 2000 – Present)
Year-over-Year % Chg 6 per. Mov. Avg. (Year-over-Year % Chg)
140%
120%
100%
80%
60%
40%
20%
0%
-20%
-40%
-60%

SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
Bay Area Sales (Existing SFH)
Bay Area 6 per. Mov. Avg. (Bay Area)
30%

20%

10%
YoY % chg.

0%

-10%

-20%

-30%

SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
Southern California (Existing SFH)
So CA 6 per. Mov. Avg. (So CA)
YoY % chg.
40%

30%

20%

10%

0%

-10%

-20%

-30%

SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
Central Valley Sales (Existing SFH)
Central Valley 6 per. Mov. Avg. (Central Valley)
YoY % chg.
30%

20%

10%

0%

-10%

-20%

-30%

SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
Sales Share by Price Range
Mar-17 Mar-16
30%

21%
20%
20%
17% 18%
16% 16%
14% 14%
11%
10% 10%
10% 9% 9% 9%

3% 3%

0%

SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
Median Price of Existing Detached Homes
California, March 2017: $517,020, +8.0% MTM, +6.8% YTY
P: May-07
$700,000
$594,530
Mar-16: Mar-17:
$600,000 $484,120 $517,020

$500,000
T: Mar-09
$245,230
$400,000 -59% from
peak
$300,000

$200,000

$100,000

$-

SERIES: Median Price of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
Home Price Appreciations Have
Moderated Since Mid 2013
50% Condo Single-Family Homes
40%

30%

20%
YTY% Chg. in Price

10%

0%

-10%

-20%

-30%

-40%

-50%

SERIES: Median Price of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
CA Median Price (Existing SFH)
Month-to-Month % Chg
15%

10%

5%

0%

-5%

-10%

-15%

SERIES: Median Price of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
Price Per Square Foot
March 2017: $252, Up 4.6% MTM, Up 8.6% YTY
$400

$350
Mar-17:
$300 Mar-16: $252
$232
PRICE PER SQ. FT.

$250

$200

$150

$100

$50

$0

SERIES: Median Price Per Square Feet of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
Sales Price -to-List Price Ratio
March 2017: 99.3%, Up 0.7% MTM, Up 0.4% YTY
Mar-16: Mar-17:
98.9% 99.3%
100%

98%
Sales-to-List Price Ratio

96%

94%

92%

90%

88%

86%

SERIES: Sales to List Ratio of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
UII remained at low levels decreasing
from last year
Mar. 2016: 3.6 Months; Mar. 2017: 3.0 Months
18.0
16.0
14.0
12.0
10.0
8.0
6.0
4.0
2.0
0.0

Note: “Unsold Inventory Index” represents the number of months it would take to sell the remaining inventory for the month in question. The remaining inventory for the month is defined
as the number of properties that were “Active”, “Pending”, and “Contingent” (when available) and divide the sum by the number of “Sold” properties for the month in question.

SERIES: Unsold Inventory Index of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
Inventory Dropped Significantly in the Bay
Area since 2009
9.0 Bay Area So CA Central Valley

8.0

7.0

6.0

5.0

4.0
3.2
3.0 2.9
2.0 2.2
1.0

0.0

Note: “Unsold Inventory Index” represents the number of months it would take to sell the remaining inventory for the month in question. The remaining inventory for the month is defined
as the number of properties that were “Active”, “Pending”, and “Contingent” (when available) and divide the sum by the number of “Sold” properties for the month in question.

SERIES: Unsold Inventory Index of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
Supply Dropped in Each Region
March 2017

Sales Active Listings
10%
6% 7%

1%
Year-to-Year % Chg

0%

-10% -9%
-10%

-14%

-20%
San Francisco Bay Area Southern California Central Valley

SERIES: Sales and Listings of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®