Oh so close

Here's the latest numbers from Dataquick. Last month San Berdu's median price was $205K and Riverside was $237,500. That puts the monthly decline at 2.5% for San Berdu and just over 3% for Riverside. Foreclosures made up 68% of the Riverside sales and over 65% or the SB sales. That kinda makes you wonder whats going to happen to the sales numbers if the number of availible foreclosed properties continues to diminish due to AB1137. I doubt that will be an issue. Once banks get caught up I expect the foreclosure numbers will climb right back up again.

Once again the report makes headlines about how much better than last year sales were. Well yes they were, but last year was the worst year since the great flood in 2000 BC (They did mention is was the second worst october since 96 though).

San Berdu's median is oh so close to breaking $200k! Riverside's median peaked at around $420K in late 2006 so we are close to 46% off peak. I think we have another30K to 50K still to go before we level off in Riverside, maybe slightly less in San Berdoo.

Sales Volume Median Price
All homes


Oct-07 Oct-08 %Chng
Los Angeles


$500,000 $355,000 -29.00%
Orange


$573,750 $420,000 -26.80%
Riverside


$356,300 $230,000 -35.40%
San Bernardino


$330,000 $200,000 -39.40%
San Diego


$460,000 $323,500 -29.70%
Ventura


$535,000 $375,000 -29.90%
SoCal


$445,000 $300,000 -32.60%