C.A.R. Reports Median Home Price Increased 17.3 Percent in September

The median price of an existing, single-family detached home in California during September 2005 was $543,980, a 17.3 percent increase over the revised $463,630 median for September 2004, C.A.R. recently reported. The September 2005 median price decreased 4.4 percent compared with August's revised $568,730 median price.

"The September median home price compared with August has fallen every year since 1993, and in 20 of the last 26 years," said C.A.R. President Jim Hamilton. "This year is no exception and is part of the seasonal shift to an off-peak period in the real estate market as we approach year's end."

Closed escrow sales of existing, single-family detached homes in California totaled 650,780 in September at a seasonally adjusted annualized rate, according to information collected by C.A.R. from more than 90 local REALTOR. associations statewide. Statewide home resale activity increased 3.9 percent from the 626,210 sales pace recorded in September 2004.

Lake Arrowhead Home Prices in 2005