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NEWS: Median price in SoCal plunges 24%

EastSiderEastSider
edited April 2008 in Seattle Real Estate
Median price of Southern California homes plunged 24 percent in March

Newly released data shows the median price of Southern California homes plunged 24 percent during March in the latest sign of the real estate market's deepening distress.
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http://www.mercurynews.com/breakingnews/ci_8932454

When do we get to see a similar situation in Seattle?

Comments

  • The_TimThe_Tim
    When the specific numbers for San Diego County come out, I'm looking forward to updating this graph.
  • crucifictioncrucifiction
    How much longer before its actually cheaper to live in LA or SF than Seattle?
  • AlanAlan
    California prices will be saved by the Seattle equity locusts!
  • SeattleMooseSeattleMoose
    "When do we get to see a similar situation in Seattle?"

    We are in 2nd inning.

    They are in 4th inning.

    Timing is everything. 8)
  • The_TimThe_Tim
    It's official. San Diego county-wide median prices (SFH+condo) are now cheaper than King.

    County median home price drops below $400,000
    San Diego Union-Tribune wrote:
    San Diego County's median home price dropped below the $400,000 mark last month for the first time since late 2003, driven largely by discounted foreclosure sales, DataQuick Information Systems reported Tuesday.

    The overall median price for homes sold in March was $395,000, the lowest since November 2003. That marked a 4.8 percent drop from February and a 19.4 percent decline from March 2007.

    The median, representing the midpoint of all prices reported, has now sunk $122,500, or 23.7 percent, from the peak of $517,500 in November 2005, DataQuick figures show. But the median price is still twice what it was in March 1999.
    For those keeping score at home, King County's overall median (SFH+condo) last month was $405,000.

    We're the most specialest place in all the land!
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