California’s Real Estate Market in March 2015

Both home prices and sales are increasing in California, as of last month.

In March 2015, there were 391,680 closed escrows of existing, single-family detached homes in our state (according to data pulled from the CALIFORNIA ASSOCIATION OF REALTORS).

From the previous month, sales were up 6.3 percent from February’s 368,400 closed escrows. And from the previous year, real estate sales were up 7.3 percent (March 2014 boasted 365,120 completed escrows). The yearly increase is the biggest gain since December 2012.

Real estate prices in California have also increased, with the median price of existing, single-family detached homes increasing 9.2 percent from February’s $428,970 to March’s median price of $468,550 — the most it’s been in the past seven months.

Read more about California’s real estate market trend on C.A.R.’s website.

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