Homes sales in Central California in June

-July 29,2021-

Figures are in for sales of existing homes in California in June including the median price. June’s statewide median home price was $819,630, up 30.9 percent from June 2020. Information is courtesy the California Association of Realtors.In Central California, San Luis Obispo county sales were up 24% year over year and the median price jumped 41% to $799,000.In Kings County, sales year over year were up 11% and the median price climbed to $295,000 – a 14% jump from June 2020. In Tulare County, sales were down 7% but the median price was up 24% to $335,000 from a year earlier. In a related report, the Case-Shiller U.S.index reported a 16.6% annual gain in May, up from 14.8% in the previous month. The price escalation was dramatic in California’s big metro areas  with a gain of 17% in LA,18% in SF and 25% in San Diego year over year.

Car owners with older, higher-mileage vehicles sitting in their driveway might be a bit shocked to see how much their vehicle was worth right now. According to Edmunds, the average transaction price for all vehicles sold at dealerships with mileage between 100,000-109,999 miles climbed to $16,489 in June 2021, compared to $12,626 last year, which is a 31% year-over-year increase and the highest that Edmunds has on record for those vehicles. Edmunds data also reveals that higher-mileage vehicles are selling much quicker off the lot.
“It’s been a long-held belief among many car buyers and sellers that a vehicle’s value begins to decline dramatically once it crosses the 100,000-mile mark, but that’s proven to be wrong as vehicle technology and durability have greatly improved over the years,” said Ivan Drury, Edmunds’ senior manager of insights.