Real Estate Trend: CA Home Sales Jump 65% in September
They tell me that trends usually start in California, in this case I certainly hope so! Home sales in Southern California jumped 65% higher than September of 2007.
Half of those transactions were foreclosure resales, as smart buyers snapped them up. The average sale price Statewide is now $283,000, a drop of about 34 percent from $430,000 in September 2007.
Home sales in a nine-county region around San Francisco Bay jumped 45 percent from a year ago, and the median home price dropped to $400,000, a 36 percent drop from $625,000 las year. This is below Fannie Mae's conforming limit, so for those with good credit, and a down-payment, mortgages are available.
(photo credit: Jef Poskanzer, Berkeley California, April 30, 2006)
What about Frederick County? It's interesting that we've seen the same kind sales volume increase in Frederick County. We can't tell if it is circumstantial, ie. end of seller closing cost help, but whatever the reasons, its good for everyone to have those foreclosures snapped up by savvy buyers.
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The Highland Group
Chris & Karen Highland * 301-831-9947
Turning Point Real Estate – 301-831-8232
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