March 1, 2017 - Vacaville, CA - Expert providers of homes for sale in Fairfield and Vacaville, Community Real Estate Services, are proud to announce that the California housing market ended 2016 on a significant upswing.
According to numbers recently released by the California Association of Realtors (CAR), the California housing market overcame a number of nationwide economic issues to post positive numbers at the end of the year. The final quarter of 2016 was the strongest the California market has seen since Q4 2012.
Among the highlights of the CAR report:
- Existing single-family home sales totaled 411,230 in December.
- The statewide median sale price was $509,060, which is up compared to both November 2016 and December 2015.
- The average price per square foot was $241, up from $232 in December 2015.
- The Unsold Inventory Index declined to 2.6 months from 2.8 months the previous year, indicating high demand.
- Further suggesting high demand, new active listings statewide fell 13.8% from November.
- The median number of days required to sell was 33, down substantially from the 39.4-day average in December 2015.
While sales were down slightly compared to November, this was expected. November saw unexpected and unseasonably high sales, which were a major factor in driving Q4 sales numbers. Considering this, a moderate sales decrease in December was only natural.
Community Real Estate Services is proud to have been part of this excellent home sale season, and expects many excellent quarters to come as the housing market in California continues to improve.
About Community Real Estate Services
Community Real Estate Services boasts fourteen years' experience showing homes for sale in Fairfield and Vacaville. As natives of the area, Community Real Estate Services has extensive knowledge of the local markets, as well as experience with homes for rent in Vacaville. Their can-do attitude has made them a favorite for home-shoppers in California.
For more information or press inquiries, please contact (707) 447-7777 or visit www.1communityre.com.