January Sales Report

In Southern California the median price of single family homes increased 3.8% on a year over year basis to $420, 700.

An estimated 25,325 new and resale houses and condos sold in California in January 2015. That was down month over month by 30.6 percent from 36,468 sales in December 2014 and down year over year by 2.0 percent from 25,832 sales in January 2014.

January home sales have varied from a low of 19,145 sales in 2008 to a high of 47,138 sales in 2004. The January 2015 sales were 18.8 percent lower than the January average of 31,177 sales since 1988, when CoreLogic DataQuick data began. California sales haven’t been above average for any particular month in more than eight years.

The median price paid for a home in California in January 2015 was $376,000, down month over month by 3.1 percent from $388,000 in December 2014 and up year over year by 6.5 percent from $353,000 in January 2014.

January 2015 marked the 35th consecutive month in which the state’s median sale price has increased on a year-over-year basis. The peak year-over-year price gain during that period was 29.2 percent in July 2013. Since then price gains have trended lower and since July 2014 the year-over-year increases have been single-digit – between about 6 percent and 7 percent from October 2014 through January 2015.