California

Housing Market
Update
Monthly Sales and
Price Statistics
November 2020
California housing market: sales above 500K,
price dipped below $700K, supply lowest in years
November 2020

508,820 Existing Home Sales

+26.3% YTY +1.3% YTD % change

Unsold Median Days Sales Price to

Price Inventory Index on Market List Price Ratio

$699,000 1.9 months 9 days 100.5%

+18.5% Y2Y -38.7% Y2Y -64.0% Y2Y +2.1% Y2Y

CALIFORNIA ASSOCIATION OF REALTORS®

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02
November 2020 Southern California Housing Snapshot

+19.1% YTY Existing Home Sales

-0.7% YTD % change

$657,820 Existing Home Price

+14.4% YTY % change

Unsold Median Days Sales Price to

Inventory Index on Market List Price Ratio

2.0 months 9 days 100.3%

CALIFORNIA ASSOCIATION OF REALTORS®

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November 2020 Central Coast Housing Snapshot

+33.4% YTY Existing Home Sales

+4.3% YTD % change

$825,000 Existing Home Price

+18.7% YTY % change

Unsold Median Days Sales Price to

Inventory Index on Market List Price Ratio

2.1 months 10 days 100.0%

CALIFORNIA ASSOCIATION OF REALTORS®

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November 2020 Central Valley Housing Snapshot

+18.3% YTY Existing Home Sales

-1.5% YTD % change

$400,000 Existing Home Price

+17.6% YTY % change

Unsold Median Days Sales Price to

Inventory Index on Market List Price Ratio

1.6 months 7 days 100.3%

CALIFORNIA ASSOCIATION OF REALTORS®

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November 2020 Bay Area Housing Snapshot

+34.4% YTY Existing Home Sales

-1.2% YTD % change

$1,100,000 Existing Home Price

+18.9% YTY % change

Unsold Median Days Sales Price to

Inventory Index on Market List Price Ratio

1.6 months 11 days 102.8%

CALIFORNIA ASSOCIATION OF REALTORS®

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November 2020 Far North Housing Snapshot

+3.1% YTY Existing Home Sales

-2.6% YTD % change

$340,000 Existing Home Price

+13.6% YTY % change

Unsold Median Days Sales Price to

Inventory Index on Market List Price Ratio

3.0 months 14.5 days 100.0%

CALIFORNIA ASSOCIATION OF REALTORS®

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Sales
 Sales above 500K for the first time in 11 years

California, November 2020 Sales: 508,820 Units, +1.3% YTD, +26.3% YTY, +5.0% MTM
700,000
600,000
500,000
400,000
300,000
200,000
100,000
-
Sep-05

Sep-07

Sep-09

Sep-11

Sep-13

Sep-15

Sep-17

Sep-19
May-06

May-08

May-10

May-12

May-14

May-16

May-18

May-20
Jan-05

Jan-07

Jan-09

Jan-11

Jan-13

Jan-15

Jan-17

Jan-19
SERIES: Sales of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
9
 California home sales had largest year-over-year
growth since May 2009
30% Year-over-Year % Chg 6 per. Mov. Avg. (Year-over-Year % Chg) 26.3%
20%
10%
0%
-10%
-20%
-30%
-40%
-50%
Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20

SERIES: Sales of Existing Single Family Homes page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
10
 YoY % chg.

0%

-60%
-50%
-40%
-30%
-20%
-10%
10%
20%
30%
40%
Jan-10
May-10
Sep-10
Jan-11
May-11
Sep-11
Jan-12
May-12
Sep-12
Jan-13
May-13
Sep-13
Bay Area

Jan-14
May-14
Sep-14
Jan-15
May-15
Sep-15
Jan-16
May-16
Bay Area sales growth rebounded

Sep-16
Jan-17
May-17
Sep-17
6 per. Mov. Avg. (Bay Area)

Jan-18
May-18
Sep-18
Jan-19
May-19
Sep-19
Jan-20
May-20
SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Sep-20
11
34.4%

page
 YoY % chg.

0%

-50%
-40%
-30%
-20%
-10%
10%
20%
30%
40%
Jan-10
May-10
Sep-10
Jan-11
May-11
Sep-11
Jan-12
May-12
Sep-12
Jan-13
May-13
Sep-13
So CA

Jan-14
May-14
Sep-14
Jan-15
May-15
Sep-15
Jan-16
May-16
Sep-16
Jan-17
May-17
6 per. Mov. Avg. (So CA)

Sep-17
Jan-18
So. California sales growth ticked back up

May-18
Sep-18
Jan-19
May-19
Sep-19
Jan-20
May-20
SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Sep-20
19.1%

12
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 YoY % chg.

0%

-40%
-30%
-20%
-10%
10%
20%
30%
Jan-10
May-10
Sep-10
Jan-11
May-11
Sep-11
Jan-12
May-12
Sep-12
Jan-13
May-13
Sep-13
Central Valley

Jan-14
May-14
Sep-14
Jan-15
May-15
Sep-15
Jan-16
May-16
Central Valley sales bounced back

Sep-16
Jan-17
May-17
Sep-17
Jan-18
May-18
6 per. Mov. Avg. (Central Valley)

Sep-18
Jan-19
May-19
Sep-19
Jan-20
SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

May-20
Sep-20
13
18.3%

page
 Sales growth more robust in higher price segments

November 2020 Share by Price Segment

(YTY% Chg.)
100% 36%
75% $0 - $499k
80% 61% 63% 47%
60%
40% 19% 26%
20% 41%
0% $500 - $999k
-20% 0% 37%
-40% -31%

23%
2020
$1M+ 2019
17%

SERIES: Sales of Existing Detached Homes page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
14
 Sales take a step back in all price ranges

140% $0 - $299k $300 - $399k $400 - $499k $500 - $749k

120% $750 - $999k $1,000 - $1,999k $2,000k+
100%
YTY % Chg. in Sales

80%
60%
40%
20%
0%
-20%
-40%
-60%
-80%
Apr-19

Apr-20
Sep-19

Sep-20
Mar-19

Mar-20
Jul-19

Jul-20
Jun-19

Nov-19

Jun-20

Nov-20
Aug-19

Aug-20
Feb-19

Feb-20
May-19

May-20
Dec-18

Dec-19
Jan-19

Oct-19

Jan-20

Oct-20
SERIES: Percent Change in Sales page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
15
Sales in high-end market continue to outpace
more affordable market
140% $0 - $999k $1M - $2.99M $3M+
120%
100% 93.0%
YTY % Chg. in Sales

80% 63.3%
60%
40%
20% 13.4%
0%
-20%
-40%
-60%
-80%
Apr-19

Apr-20
Sep-19

Sep-20
Mar-19

Mar-20
Jul-19

Jul-20
Jun-19

Nov-19

Jun-20

Nov-20
Aug-19

Aug-20
Feb-19

Feb-20
May-19

May-20
Dec-19
Jan-19

Oct-19

Jan-20

Oct-20
SERIES: Percent Change in Sales page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
16
 Sales by Region

Other November 2020 November 2020 Home Sales

Counties Home Sales by Region Growth by Region
6% 40% 34.4% 33.4%
Far North 35%
Central 2% 30% 28.0%
Coast 25%
18.3% 19.1%
4% 20%
Central
15%
Valley
10%
21% 5% 3.1%
0%

S.F. Bay
Southern Area
California 20%
47%

CALIFORNIA ASSOCIATION OF REALTORS®

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 Pending sales dropped by double digits
for first time in 7 months
80%
MTM % Chg. in Pending Sales

60%

40%

20%

0%

-20%
-18.2%
-40%

SERIES: Percent Change in Pending Sales page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
18
 Pending sales grew more than 20 percent for the
6th consecutive month

40%
YTY % Chg. in Pending Sales

30%
20% 21.5%
10%
0%
-10%
-20%
-30%
-40%
-50%
Sep-17

Sep-18

Sep-19

Sep-20
Mar-17

Mar-18

Mar-19

Mar-20
Jul-17

Jul-18

Jul-19

Jul-20
Nov-17

Nov-18

Nov-19

Nov-20
May-17

May-18

May-19

May-20
Jan-17

Jan-18

Jan-19

Jan-20
SERIES: Percent Change in Pending Sales page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
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 Pending sales in the top end remained robust
but growth pace slowed
150% $0 - $999k $1M - $2.99M $3M+
YTY % Chg. in Pending Sales

100%
62.5%
50% 61.9%
15.6%
0%

-50%

-100%
Apr-19

Apr-20
Sep-19

Sep-20
Mar-19

Mar-20
Jul-19

Jul-20
Jun-19

Nov-19

Jun-20

Nov-20
Aug-19

Aug-20
Feb-19

Feb-20
May-19

May-20
Dec-19
Jan-19

Oct-19

Jan-20

Oct-20
SERIES: Percent Change in Pending Sales page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
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 Is it a good time to buy or sell?

Do you think it’s a good time to buy a Do you think it’s a good time to sell a
home in California? home in California?

59%
51% 55%

31%
24% 27%
Sep-18

Sep-19

Sep-20

Sep-18

Sep-19

Sep-20
Mar-19

Mar-20

Mar-19

Mar-20
Jul-19

Jul-20

Jul-19

Jul-20
Nov-18

Nov-19

Nov-20

Nov-18

Nov-19

Nov-20
May-19

May-20

May-19

May-20
Jan-19

Jan-20

Jan-19

Jan-20
SERIES: Google Consumer Poll page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
21
Price
 California median price eased as it dipped below
$700K for 1st time in the last 4 months
California, November 2020: $699,000, -1.7% MTM, +18.5% YTY

$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$-
Sep-05

Sep-07

Sep-09

Sep-11

Sep-13

Sep-15

Sep-17

Sep-19
May-06

May-08

May-10

May-12

May-14

May-16

May-18

May-20
Jan-05

Jan-07

Jan-09

Jan-11

Jan-13

Jan-15

Jan-17

Jan-19
SERIES: Median Price of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
23
 Condo/Townhome median price unchanged

California, November 2019: $485,110, November 2020: $520,000

$600,000

$500,000
Median Price

$400,000

$300,000

$200,000

$100,000

$0 Apr-10

Apr-17
Sep-09

Sep-16
Mar-06

Mar-13

Mar-20
Jul-08

Jul-15
Nov-10
Jun-11

Nov-17
Jun-18
Aug-05

Aug-12

Aug-19
Feb-09

Feb-16
May-07

May-14
Dec-07

Dec-14
Jan-05

Oct-06

Jan-12

Oct-13

Jan-19

Oct-20
SERIES: Median Price of Existing Condos/Townhomes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
24
 Median price growth slowed for Condo, but Single-
Family Homes remained strong
50% Condo Single-Family Homes
40%
30%
20%
YTY% Chg. in Price

10%
0%
-10%
-20%
-30%
-40%
-50%
Sep-05

Sep-07

Sep-09

Sep-11

Sep-13

Sep-15

Sep-17

Sep-19
May-06

May-08

May-10

May-12

May-14

May-16

May-18

May-20
Jan-05

Jan-07

Jan-09

Jan-11

Jan-13

Jan-15

Jan-17

Jan-19
SERIES: Median Price of Existing Condo/Townhomes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
25
 Price/Square foot grew from last year by double digits
for the 3rd consecutive month
November 2020: $332, +1.8% MTM, +15.3% YTY
$400
$350
PRICE PER SQ. FT.

$300
$250
$200
$150
$100
$50
$0
Jul-07

Jul-08

Jul-09

Jul-10

Jul-11

Jul-12

Jul-13

Jul-14

Jul-15

Jul-16

Jul-17

Jul-18

Jul-19

Jul-20
Jan-07

Jan-08

Jan-09

Jan-10

Jan-11

Jan-12

Jan-13

Jan-14

Jan-15

Jan-16

Jan-17

Jan-18

Jan-19

Jan-20
SERIES: Median Price Per Square Feet of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
26
 Median Square footage of SFH

1,900

1,850 1,820

1,800
SQ. FT.

1,750

1,700

1,650

1,600
Jan-17 Jul-17 Jan-18 Jul-18 Jan-19 Jul-19 Jan-20 Jul-20
SERIES: Median Square Footage of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
27
 Price/Square foot: the gap between condo/townhomes
and single-family homes narrowed slightly

Diff. in Price/Sq. Ft. SFH Condo/Townhome

$500
$450 $433
PRICE PER SQ. FT.

$400
$350 $332
$300
$250
$200
$150
$100
$50
$0
Jul-07

Jul-08

Jul-09

Jul-10

Jul-11

Jul-12

Jul-13

Jul-14

Jul-15

Jul-16

Jul-17

Jul-18

Jul-19

Jul-20
Jan-07

Jan-08

Jan-09

Jan-10

Jan-11

Jan-12

Jan-13

Jan-14

Jan-15

Jan-16

Jan-17

Jan-18

Jan-19

Jan-20
SERIES: Median Price Per Square Feet of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
28
 Sales price-to-list price ratio inched up

November 2020: 100.5%, +0.3% MTM, +2.1% YTY

Sales-to-List Price Ratio

100%

98%

96%

94%

92%

90%
Jul-07

Jul-08

Jul-09

Jul-10

Jul-11

Jul-12

Jul-13

Jul-14

Jul-15

Jul-16

Jul-17

Jul-18

Jul-19

Jul-20
Jan-07

Jan-08

Jan-09

Jan-10

Jan-11

Jan-12

Jan-13

Jan-14

Jan-15

Jan-16

Jan-17

Jan-18

Jan-19

Jan-20
SERIES: Sales to List Ratio of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
29
 List price ticked up while sales price growth
unchanged
60%
Listing Price Sales Price
50%
40%
YTY% Chg. in Price

30%
20%
10%
0%
-10%
-20%
Sep-12

Sep-13

Sep-14

Sep-15

Sep-16

Sep-17

Sep-18

Sep-19

Sep-20
May-12

May-13

May-14

May-15

May-16

May-17

May-18

May-19

May-20
Jan-12

Jan-13

Jan-14

Jan-15

Jan-16

Jan-17

Jan-18

Jan-19

Jan-20
SERIES: Sales to List Ratio of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
30
Price growth up by double digits in all percentiles;
strongest gain in the top end
Year-over-Year Price Growth
35%

30% 28.8%
26.2% 26.8% 27.2%
25.0%
25%
20.6% 20.8% 21.0% 21.4%
20%

15%

10%

5%

0%
0-20 20-40 40-60 60-80 80-100 80-85 86-90 91-95 96-100
Percentile

SERIES: Median Price of Existing Single Family Homes page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
31
 Price growth slowed faster at top percentile;
all percentiles grew by double-digits from a year ago
35% 0-20 20-40 40-60 60-80 80-100
30%
25%
20%
YTY% Chg. in Price

15%
10%
5%
0%
-5%
-10%

SERIES: Percent Change in Price page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
32
 Market Velocity

-150%
-100%
0%

-50%
100%
150%

50%
Dec-08
Mar-09
Jun-09
Sep-09
Dec-09
Mar-10
Jun-10
Sep-10
Dec-10
Mar-11
Jun-11
Sep-11
Price Growth

Dec-11
Mar-12
Jun-12
Sep-12
Dec-12
Mar-13
Jun-13
Sep-13
Dec-13
Mar-14
Jun-14
Sep-14
Dec-14
Mar-15
Jun-15
Sep-15
Dec-15
Mar-16
Jun-16
Sep-16
Dec-16
Mar-17
Jun-17
Sep-17
Dec-17
Mar-18
Jun-18
Sep-18
Dec-18
California Market Velocity and Price Growth

Mar-19
Jun-19
Sep-19
Market Velocity (12 month trailing average)

Dec-19
Mar-20
Jun-20
Sep-20
SERIES: Market Velocity & Price Growth
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
0%
10%
20%
30%
40%
50%

-50%
-40%
-30%
-20%
-10%

33

Existing SFR Median Price

Growth
page
 Mortgage payment exceeded last year’s level for the
fourth consecutive month
California Median Price vs. Mortgage
30 Yr. FRM
6% Payment
25%
5% 20% 18.5%
15%
4% 3.70% 10%

YTY% Chg.
5% 5.5%
3% 2.77% 0%
-5%
2% -10%
-15%
1%

Apr-17
Sep-17

Mar-20
Jun-16
Nov-16

Jul-18

Aug-20
Feb-18

May-19
Dec-18
Jan-16

Oct-19
0%
Sep-15

Sep-16

Sep-17

Sep-18

Sep-19

Sep-20
May-15

May-16

May-17

May-18

May-19

May-20
Jan-15

Jan-16

Jan-17

Jan-18

Jan-19

Jan-20

Price Growth Mortgage Pmt Growth

SERIES: Price Growth vs. Mortgage Payment Growth page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
34
 Mortgage payment exceeded last year’s level for
the fourth consecutive month
California Median Price vs. Mortgage Payment
25% Price Growth Mortgage Pmt Growth
20% 18.5%
15%
YTY% Chg.

10%
5% 5.5%
0%
-5%
-10%
-15%

SERIES: Price Growth vs. Mortgage Payment Growth page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
35
 Inventory &
Active Listings
 Inventory at the lowest level in over 16 years

18.0
16.0 Nov 2019: 3.1 Months; Nov 2020: 1.9 Months
14.0
Months of Supply

12.0
10.0
8.0
6.0
4.0
2.0
0.0
Sep-05

Sep-07

Sep-09

Sep-11

Sep-13

Sep-15

Sep-17

Sep-19
May-06

May-08

May-10

May-12

May-14

May-16

May-18

May-20
Jan-05

Jan-07

Jan-09

Jan-11

Jan-13

Jan-15

Jan-17

Jan-19
SERIES: Unsold Inventory Index of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
37
 Unsold Inventory remained low in all regions

9.0
8.0 Bay Area So CA Central Valley
7.0
Months of Supply

6.0
5.0
4.0
3.0
2.0
2.0
1.6
1.0 1.6
0.0
Jul-09

Jul-10

Jul-11

Jul-12

Jul-13

Jul-14

Jul-15

Jul-16

Jul-17

Jul-18

Jul-19

Jul-20
Jan-09

Jan-10

Jan-11

Jan-12

Jan-13

Jan-14

Jan-15

Jan-16

Jan-17

Jan-18

Jan-19

Jan-20
SERIES: Unsold Inventory Index of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
38
Active listings dipped below last month
to lowest level in over 15 years
California Active Listings by Month
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0

2018 2019 2020

CALIFORNIA ASSOCIATION OF REALTORS®

page
39
 Active listings remain suppressed as new listings
can’t keep up with pent up demand
Year-over-Year % Chg
40%
30%
20%
10%
0%
-10%
-20%
-30%
-40%
-50% -46.6%
-60%
Sep-15

Sep-16

Sep-17

Sep-18

Sep-19

Sep-20
Mar-15

Mar-16

Mar-17

Mar-18

Mar-19

Mar-20
Jul-15

Jul-16

Jul-17

Jul-18

Jul-19

Jul-20
Nov-15

Nov-16

Nov-17

Nov-18

Nov-19

Nov-20
May-15

May-16

May-17

May-18

May-19

May-20
Jan-15

Jan-16

Jan-17

Jan-18

Jan-19

Jan-20
SERIES: Active Listing of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
40
 Housing supply remains tight in all regions

Nov-19 Nov-20
25,000
21,496
20,000
Active Listings

15,000
10,972
10,000 8,394
4,747 3,921
5,000 3,859
2,159 1,9261,154
1,160
0
San Francisco Southern Central Valley Central Coast Far North
Bay Area California
SERIES: Active Listings of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
41
 Supply continued to drop as sales remain strong

November 2020
Sales Active Listings
40% 34.4% 33.4%
30%
19.1%
Year-to-Year % Chg

18.3%
20%
10% 3.1%
0%
-10%
-20%
-30% -18.7%
-40%
-50% -40.1%
-49.0% -46.3%
-60% -53.3%
San Francisco Southern Central Valley Central Coast Far North
Bay Area California
SERIES: Sales and Listings of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
42
 Active listings dropped in all price segments

40% $0 - $999k $1M - $2.99M $3M+

30%
20%
YTY % Chg. in Active Listings

10%
0%
-10%
-8.7%
-20%
-30% -22.9%
-40%
-50%
-60% -55.4%
-70%
Apr-19

Apr-20
Sep-19

Sep-20
Mar-19

Mar-20
Jul-19

Jul-20
Jun-19

Nov-19

Jun-20

Nov-20
Aug-19

Aug-20
Feb-19

Feb-20
May-19

May-20
Dec-19
Jan-19

Oct-19

Jan-20

Oct-20
SERIES: Percent Change in Active Listings page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
43
Market Competitiveness
 Time on market was the lowest it’s ever been

California, November 2019: 25.0 Days; November 2020: 9.0 Days

80
70
Days on Market

60
50
40
30
20
10
0
Sep-05

Sep-07

Sep-09

Sep-11

Sep-13

Sep-15

Sep-17

Sep-19
May-06

May-08

May-10

May-12

May-14

May-16

May-18

May-20
Jan-05

Jan-07

Jan-09

Jan-11

Jan-13

Jan-15

Jan-17

Jan-19
SERIES: Median Time of Market of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
45
Median time on market down at all percentiles

Median Time on Market

40
32
30
Days on Market

26 26 26 25
23 24 24 24 24
22
20
12 11 11 12
9 10 9
10 8 8

0
0-20 20-40 40-60 60-80 80-100 80-85 86-90 91-95 96-100 Total
Percentile
Nov-19 Nov-20

SERIES: Median Time on Market of Existing Single Family Homes page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
46
 Sales-to-list price ratio strong,
signaling a very competitive market
California Sales-to-List Price Ratio by Quintile
102%
101% 100.8% 100.8%
100.5% 100.3% 100.5%
101% 100.0% 100.0% 100.1% 100.0%
100%
100%
99%
99% 98.2%
98%
98%
97%
97%
96%
0-20 20-40 40-60 60-80 80-100 80-85 86-90 91-95 96-100 Total
Nov-19 Nov-20
SERIES: Sales to List Ratio of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
47
 Median sales vs. list price growth $1M+ properties

California Median Sales vs. List Price Growth

25%
20%
YTY% Chg. in Price

15%
10%
5%
0%
-5%
-10%
Apr-10

Apr-15

Apr-20
Sep-10

Sep-15

Sep-20
Jul-11

Mar-13

Jul-16

Mar-18
Jun-09
Nov-09

Jun-14
Nov-14

Jun-19
Nov-19
Aug-13

Aug-18
Feb-11

Feb-16
May-12

May-17
Dec-11

Dec-16
Jan-09

Oct-12

Jan-14

Oct-17

Jan-19
Listing Price Sales Price

SERIES: Sales to List Ratio of Existing Single Family Homes page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
48
 Reduced-Price Listings

Share of Listings with a Reduced Price: 28.4%; Median Reduction Amount: -4.5%

50% 0%
45% -1%
40% -2%
35% -3%
30% -4%
25% -5%
20% -6%
15% -7%
10% -8%
5% -9%
0% -10%
1/1/2010
6/1/2010

4/1/2011
9/1/2011
2/1/2012
7/1/2012

5/1/2013

3/1/2014
8/1/2014
1/1/2015
6/1/2015

4/1/2016
9/1/2016
2/1/2017
7/1/2017

5/1/2018

3/1/2019
8/1/2019
1/1/2020
6/1/2020
11/1/2010

12/1/2012

10/1/2013

11/1/2015

12/1/2017

10/1/2018

11/1/2020
Share Reduced Median Reduction
SERIES: Listing Price of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
49
 Growth in Reduced-Price Listings

Growth in Share of Listings with a Reduced Price: -10.9%

Growth in Median Reduction Amount: 0.1%
10% 0.4%
0.3%
5% 0.2%
0% 0.1%
0.0%
-5% -0.1%
-10% -0.2%
-0.3%
-15% -0.4%
1/1/2015
4/1/2015
7/1/2015

1/1/2016
4/1/2016
7/1/2016

1/1/2017
4/1/2017
7/1/2017

1/1/2018
4/1/2018
7/1/2018

1/1/2019
4/1/2019
7/1/2019

1/1/2020
4/1/2020
7/1/2020
10/1/2015

10/1/2016

10/1/2017

10/1/2018

10/1/2019

10/1/2020
Share Reduced Median Reduction

SERIES: Listing Price of Existing Single Family Homes page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
50
Thank You