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Monthly Real Estate Market Report- February 2016

April 6, 2016

03.30.2016_01February 2016 saw California sales keeping the status quo for the month, coming in nearly the same in number of sold properties as was reported in January. There was little movement up or down in sale prices as well, marking what could be a continued flat market. The low inventory across the state coupled with higher prices is keeping the market in a holding pattern. The big players for the month however were those buying with cash. February saw a significant increase in these transactions. Cash buyers are taking advantage of lower prices before listings begin a seasonal rise in spring and summer, but with all of the increase in these types of sales, they will be one group of buyers to take note of throughout the year.

Reviewing the details of month-to-month data for the state as a whole, in February there was a slight increase in residential homes (single-family homes and condominiums) sold compared to January, with 24,409 homes sold in February, compared to the final count of 24,273 homes sold in January. Compared to a year ago, in February 2015, there was a 2.4% decrease in sales. Month-to-month median prices also went down comparing February 2016 to January 2016. The median price for all homes in January was $399,000 compared to $390,000 in February. Comparing year over year, median prices increased, with single family homes and condos moving 3.7% higher than the year before.

CA- North Bay Region Single Family Median Home Price

Feb 2015 vs Feb 2016


1. Clarus MarketMetrics®  Trendgraphics

Cash sales across the state for February went to the highest they have been for 23 months. February cash sales comprised 25.3% of all home sales. There was a 17.0% increase in month-to-month cash sales from January to February. The county that saw the most cash sales was San Francisco with 37.3%. This was followed by Marin County with 36.2% in cash sales, Santa Cruz County with 34% cash sales, and Tulare County having 30.2% in cash sales for the month. With continued investment alternatives being rather volatile, those with cash are making the safer investment with property before the seasonal pricing increase occurs.

CA- North Bay Region Number of Properties Sold by Month

Feb 2015 vs Feb 2016


2. Clarus MarketMetrics® Trendgraphics

Flip sales also saw an increase in activity for February, coming at 7.6% higher than the month prior, but these sales were up 15.9% from over the last 12 months. Flip sales were 4.05 of all home sales for the month, the largest percentage growth seen in these homes since March 2014. There was also an increase in Institutional Investors purchasing property. Following the lead of cash buyers, LLC and LP business bought 16.9% more properties in February compared to the month before. On the flip side, Trustee sales by LLC and LP firms were down for the month 2.3% from January, but up 37.7% compared to a year ago. The year over year increase may seem significant, but keep in mind that Trustee Sales are typically a smaller percentage of the total sales overall. Slight changes in the number of sales in either direction can result in larger percentage increases or decreases, they don’t necessarily reflect the market as whole.

When you are ready to sell or buy a home, me and my team are ready to help you through the entire process. Our goal is to make your experience both easy and pleasurable. Contact us today at (925) 634-7820, or by email at


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