CAR Looks at March Home Sale Values

 

California Association of Realtors
Image: car.org

Since 2004, Realtor Corey Nelson has worked with Sotheby’s International Realty in Los Angeles, California, where he is ranked among the top three percent of the firm’s sales professionals in the country. Realtor Corey Nelson maintains membership in a number of professional organizations, including the California Association of Realtors.

The California Association of Realtors (CAR) recently revealed data that shows the median home price in the state hit an eight-month high during March, ticking up to $564,830. That figure is an 8.1 percent increase over the month prior and a nearly 9 percent increase from the same period last year. The rise over the previous year represents the largest 12-month increase the California market has seen in more than two years.

According to CAR, the rise in home values reflects the movement of home sales to pricier markets in the state such as San Francisco and Santa Clara county. Even with the relatively stable prices of Southern California real estate, the spikes in these other high-demand areas has been enough to nudge the average value of homes upward.