by Calculated Risk on 10/18/2006 11:11:00 AM

DataQuick reports: California September Home Sales

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A total of 42,450 new and resale houses and condos were sold statewide last month. That's down 14.8 percent from 49,800 for August and down 28.8 percent from a 59,600 for September 2005.

Sales almost always decrease from August to September as the sales season moves from summer into fall. Last month's sales made for the slowest September since 2001 when 41,880 homes were sold.

The median price paid for a home last month was $466,000. That was down 1.3 percent from August's $472,000, and up 2.4 percent from $455,000 for September a year ago.

Although some areas are already seeing YoY nominal price declines (San Diego, Bay Area), the median YoY price in California increased slightly. Real prices are falling for the first time since the early to mid-90s housing bust in California.

Note: in about 2 weeks, DataQuick will announce a significant increase in California foreclosure activity for Q3.