CA Market Update for November

Take a look at some interesting statistics for California home sales for the month of November. As you can see, though the actual number of sales has decreased, the averge selling price has, indeed, increased. A marketing time of 45 days is very good! Home sellers just got spoiled during the past few years when a new listing would be on the market for less than one week and receive multiple offers. In days past, the typical marketing time for a home was three to six months! Considering those numbers, 45 days is fast!

Interest rates are still relatively low and have actually decreased since the publication of this report. Many of the major indices are decreasing as well, i.e., the 1-month and 6-month LIBOR as well as the 11th District COFI.

(Please accept my apologies for the small text in the tables above. There must be a way to blow it up, of which I am unaware!)