California home sale prices came close to a 4-year high in July, with the pace of sales year-over-year growing for the fourth month in a row, the California Association of REALTORS® reported.
The median home price in July for an existing single-family home was $333,860 last month, up 4.2 percent from $320,540 in June and nearly 13 percent from a year ago, when the median home price in California was $296,160.
Per Realtor Magazine, the following metro areas have seen the largest drops in inventories of for-sale homes in the past year (July 2012 compared to July 2011):
1. Oakland, California -59.30%
2. Fresno, California.: -47.81 %
3. Bakersfield, California -44.71 %
4. Seattle-Bellevue-Everett, Washington -42.23 %
On a clear day you can see the grass on the Channel Islands from this beautiful contemporary home located in mid-town Ventura! The bricks used on the home were once part of the Ventura High School Auditorium that it overlooks. The home features four bedrooms, 2 full bathrooms, a large living room and a terrific backyard filled with wonderful landscaping and fruit trees.
California has the highest population of seniors in the nation and the aging population is expected to grow faster than any other age segment in upcoming years. 11.7% of Californians (over 3 million people) are 65 or older currently.
Here are the numbers from a study released by the Milken Institute.