Weekly Median Asking Price June 30, 2008
The median asking price according to HousingTracker.net continues to
fall at an average rate of $3k per week. This weeks decline was only
$100 which is only a -0.04% change. This is in contrast to last weeks
decline of $5k, a change of -1.8%. Inventory levels are down to
45,947, a change of -3.3%.
I wouldn't get too excited about this weeks apparent slow down in price
declines. The weekly average has been pretty consistent. Until
inventories take a significant decline, price declines will continue.
With the coming wave of loan resets I expect thave inventories may
rise. It all depends on how quickly the banks can unload their current
properties.
The area being tracked includes the major cities of Corona, Fontana, Moreno Valley, Ontario,
Palm Desert, Palm Springs, Rancho Cucamonga, Riverside, San Bernardino, Temecula
and many others.
| Trend |
06/30/2008 |
1 month |
3 month |
6 month |
12 month |
| Median Price |
$269,900 |
-5.3% |
-12.9% |
-22.9% |
-32.5% |
| Inventory |
45,947 |
-2.6% |
-5.2% |
-7.9% |
-11.4% |
| Date |
Inventory
(SFH + Condo) |
25th Percentile |
50th Percentile
(Median) |
75th Percentile |
| 06/30/2008 |
45,947 |
$194,900 |
$269,900 |
$387,500 |
| 06/23/2008 |
47,519 |
$195,225 |
$270,000 |
$389,000 |
| 06/16/2008 |
46,962 |
$199,000 |
$275,000 |
$395,000 |
| 06/09/2008 |
47,297 |
$199,900 |
$279,000 |
$399,000 |
| 06/02/2008 |
46,949 |
$200,000 |
$280,000 |
$399,000 |
| 05/26/2008 |
47,187 |
$200,000 |
$285,000 |
$399,000 |
| 05/19/2008 |
46,779 |
$208,900 |
$289,000 |
$399,900 |
| 05/12/2008 |
47,403 |
$210,000 |
$292,500 |
$402,500 |
| 05/05/2008 |
47,960 |
$215,000 |
$299,000 |
$410,000 |
| 04/28/2008 |
48,253 |
$219,900 |
$299,000 |
$415,000 |