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Taking the Pulse: Gasoline Down To $2.89 / State Home Values Up 25%

Wow! Gas prices have fallen to $2.89 a gallon at one Costco station in Lodi area – as the average price of regular in California continues to drop.

The average price  in the state has declined from $4.66 on 10/07/12 to $3.51 today according to Gas Buddy. The trend continues to suggest lower prices,a a gift to the motorists  after the run up in September by 50 cents in just a few days.  The  low price in the S2S reading area is $3.24 in Fresno, $3.33 at Costco Visalia, $3.25 in Tulare,$3.35 inHanford  and  $3.51 at the Costco in San Luis Obispo.

C.A.R. reports that California’s existing homes continued to sell at a faster pace in November, with the median number of days it took to sell a single-family home falling to 37.5 days in November 2012 from 38 days in October and down from a revised 56.6 days for the same period a year ago.

Median time on the market in November is 48 days in SLO – down from 64 days a year ago, down to 26 days from 36 days in the Fresno market and down in Tulare County from 42 days to 24 days.Kings County time on the market improved from 45 days a year ago to 43.

Meanwhile regards the median sales price SLO county now has a $391,000 median compared to $354,000 a year ago.Tulare County median is $138,000 vs $126,000 a year ago.

The statewide median price of an existing, single-family detached home increased 2.3 percent from October’s $341,370 median price to $349,300 in November.  November’s price was up 24.8 percent from a revised $279,910 recorded in November 2011, marking the ninth consecutive month of annual price increases and the fifth consecutive month of double-digit annual gains.  The year-to-year percentage increase was the largest since June 2004.

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