April 2020 Home Sales and Price Report-taken from car.org 5-26-20
California’s housing market feels full brunt of coronavirus outbreak in April, C.A.R. reports
• Existing, single-family home sales totaled 277,440 in April 2020, down 25.6% from March and down 30.1% from April 2019.
• April’s statewide median home price was $606,410, down 1.0% from March and up 0.6% from April 2019.
• The statewide unsold inventory index jumped to 3.4 months in April from 2.7 months in March and was unchanged from last April.
• The median number of days it took to sell an existing, single-family home fell significantly from a year ago, declining from 21 days in April 2019 to 13 days in April 2020.
• C.A.R.’s sales-to-list price ratio was 100% statewide in April 2020, up from 98.9% in April 2019.
• The average statewide price per square foot for an existing, single-family home was $284 in April 2020 and $289 in April 2019.
• The 30-year, fixed-mortgage interest rate averaged 3.31% in April, down from 4.14% in April 2019, according to Freddie Mac.
Some pockets of the state are not experiencing the pandemic results the same. And some data will be different based on price range. This article is an overview of the entire state of California.
Are you wondering how your property may have been impacted and what the current value might be? Give us a call, email or text if you are in Southwest Riverside County!
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