Good news for homeowners in Riverside and San Bernardino: Both of these counties have experience double-digit gains in median sale prices, over the last year or so. This is according to a new report published by San Diego-based DataQuick, a company that provides housing-related data.
According to pricing data provided by RealtyTrac, Valley Village had the largest increase in home sale prices of any district or city in the Los Angeles metro area. It had the third-highest price jump in the state. The report was based on a comparison of the last two quarters. This part of the state may finally be hitting bottom, in terms of home prices.
A recent report showed that several California cities had the highest number of foreclosure-related sales. That may seem like a bad thing at first glance, but it’s really not. The state is finally getting through a backlog of distressed homes that have been suppressing values for a long time. In the end, these real estate markets will be better off.
The Los Angeles housing market has been making month-over-month price gains for some time now. Now we have a new trend. According to the latest numbers, L.A. is starting to see annual gains as well. It’s part of a broader rebound that is spreading across the state, and it looks like it will continue well into 2013.
Home buyers in San Jose, California should be prepared for some stiff competition. This housing market is heating up. In fact, the city had the fifth-largest increase in sales price, of any city in the entire country. Additionally, there are fewer properties for sale this year compared to last, and growing demand. Does that make San Jose a seller’s market? Pretty much.
We can look at the median length of time homes are listed for sale to get a sense of how ‘fast’ or how ‘slow’ a particular market is. This metric is referred to as median days on market, or DOM. And as it turns out, the state of Florida has some of the slowest real estate markets in the country. It’s tough to be a seller in these areas.
Home prices are rising across the United States. Slowly but surely, the national housing market is gaining ground again. But it’s happening faster in some cities than others. In this article, we looked at the five cities where list prices have risen the most, over the last year. Three of the four are located within in California.