Report: Bakersfield median home prices hold steady year-over-year
| Wednesday, Oct 05 2011 04:05 PM
Last Updated Wednesday, Oct 05 2011 04:06 PM
The median home price for existing single-family homes in the Bakersfield area was $129,475 in September, nearly unchanged from last year but down 3.3 percent from August.
The figures were from the Preliminary Crabtree Report, prepared monthly by Gary Crabtree, owner of Affiliated Appraisers. The latest report was released this week.
Declines in the volume of sales and in price are typical this time of year, when sales are falling off from their summer peak.
Closed sales dropped 18.7 percent from August to September. There was no change from September of last year, the report says.
Active listings fell 0.5 percent for the month and 7.2 percent for the year.
Pending sales rose 18.1 percent for the month, but were down 16.4 percent compared with September 2010.
Foreclosures were down 10 percent for the month and 35.3 percent for the year.
Sales of foreclosed properties and new foreclosure listings also are down substantially.
Nevertheless, lender-owned properties continue to account for a large number of sales. Of all homes sold last month, 37.7 percent were lender owned, compared with 42.6 percent in August and 45.7 percent in September of last year.
