California Housing Prices reach new high!
..... are you surprised?
DataQuick reports that "the median home and condominium price in California rose 21.7 percent from $290,000 to an unprecedented $353,000 during the year-over-year period ended in March. "
And, "Meanwhile, sales jumped 16.4 percent from 48,250 last March and 39 percent from 40,400 in February to a record 56,150. Experts attribute the gains between February and March to a supply-and-demand imbalance, noting that the frenzy will continue as the summer approaches. Marin County recorded the highest median of $672,000; while Los Angeles County posted the largest gain--29.3 percent, which landed the market at a median home price of $375,000."
Read the press release of the National Association of Realtors here.