The median price of an existing, single-family detached home in California during April 2004 was $453,590, a 24.6 percent increase over the revised $364,040 median for April 2003, according to the Realtor's figures, which are based on a survey of Realtors and do not include sales by owners, real estate agents not affiliated with CAR and others, such as foreclosure sales. The April 2004 median price increased 5.8 percent compared to a revised $428,570 median price in March.
"The median price of a home surged to another record in April as the traditional spring homebuying season got underway," says Ann Pettijohn, president of the Realtors. "Buyers concerned about potential interest-rate increases later this year jumped into the market, while the supply of homes for sale continued to shrink."
Santa Clara County, heart of Silicon Valley, was one of the few places in the state where home median prices declined from the previous month. |
