Tulare County remains most affordable
LOS ANGELES (Dec. 17) – California home sales and prices retreated in November, though the statewide median price recorded its largest year-over-year price gain in nearly a year and a half, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.
Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 402,880 units in November.November’s sales figure was down 0.3 percent from the 404,240 level in October and up 5.6 percent from home sales in November 2018 of a revised 381,690.
“While statewide home sales and prices eased back slightly as the housing market continued to move into the off season, a favorable lending environment continues to draw interest from buyers who want to take advantage of low rates,” said 2020 C.A.R. President Jeanne Radsick.
“The upper end of the market, in particular, is showing some welcomed improvement in recent months as both sales and prices posted mild growth from a year ago in November.”
The median price decreased 2.6 percent from October’s $605,280 to $589,770 in November, marking the first time in seven months that the median price was under $600,000. November’s median price was up 6.4 percent from $554,240 in November 2018.
Local numbers
In our reading area San Luis Obispo recorded a median price of $615,000 in November, down from $624,000 in November 2018 and down from $627,000 in October 2019. Sales are off 27% from October but up 5.3% year over year.
In the Valley’s Tulare County the median has not budged much from a year earlier now standing at $240,000 -up from $237,400 a year earlier and $255,000 in October 2019.Sales year over year were off 11.7%.Housing in Tulare County remains a bargain compared to the rest of the state being one of the most affordable places to live in the Golden State.