Drop in Median Home Prices Slowing Down Noticed in November 2009 in East Bay Ca

Online, December 22, 2009 (Newswire.com) - HomeSearchFinder.com research data reveals that Median days on Market dropped in double digits in 25 of the 34 cities surveyed in East Bay California

San Ramon,Ca December 16th 2009 HomeSearchFinder.com analysed 34 major cities in the East Bay Market .Sales of Homes for November 2009 were compared to November 2008
Median Price Change in Home Prices
The major cities that had double digit drop in median home prices as compared to last year were Lafayette Homes (-19.31%) ,Walnut Creek Homes(-18.44%),Alameda Homes(-13.88%),Emeryville Homes(-13.61%),Antioch Homes (-10.07%).The good news is all other cities had single digit drops and some cities actually showed gains in home prices over last year .Oakland homes(12.84%),Bay Point Homes(14.19%),Danville Homes (16.22%),Fremont Homes(17.64%),El Sobrante Homes(21.54%) and Discovery Bay( 22.54%)
Median Days On Market
28 of the 34 cities actually had homes for lower median days on the market as compared to last year. That is also evident from the number of multiple offers being received on individual homes and the number of rejections Buyers are receiving.25 cities had double digit drop in median days the homes were on the market. Pinole Homes (-65.14%) ,Pacheco Homes(-64.91%),San Lorenzo Homes(-64.06%),Hercules Homes(-62.97%),Bay Point Homes( -61.93%),Pittsburg Homes(-51.05%)and Hercules Homes(-50.29%)had the median days on the market down by more than half.
Homes Sold
Overall the homes sold last year in November 2008 were 2008 homes as compared to 1932 homes this year in November 2009.Some cities faced increases and some faced losses but overall the decline was not noticeable
Where have the Bank Foreclosures gone?
It's a fact that Bank Owned listings/ homes are few to find. Everybody is scratching their heads to figure this one out. We have numbers in our report to show that Bank Foreclosures have dropped as compared to same time last year. But since the sale of homes was quite comparable to last year where did the difference come from. It most likely includes property flippers, short sales and regular sales by sellers. It is difficult to pinpoint the break down of this one .However we do have changes in Bank REO homes .29 of the 34 cities had decreased Bank Foreclosures.27 of the 29 cities had double digit decreases . Major decreases in Bank Owned properties was in Pleasanton Homes(-68.18%),Danville Homes (-66.41%)Dublin Homes( -61.54%)Fremont Homes(-56.93%),Pinole homes(-56.04%),Hayward Homes(-55.75%)
No of Months Inventory
The leader in number of months of homes inventory were Pittsburg Homes(8.25Months),Discovery Bay Homes(8.04M),Hercules Homes(7.31M).The lowest inventory was in El Cerrito Homes(2.4M) Berkeley Homes(2.87 M),Union City Homes(4M)
You can see detailed charts on East Bay Ca Homes For Sale which include comparison for November 2009 to November 2008 and Summary of Numbers for November 2009.
You can view individual city data , view properties and qualify for East Bay Ca Foreclosures on our website.
About HomeSearchFinder.com
HomeSearchFinder.com is a free online resource for prospects to locate Ca Homes For Sale and Ca Foreclosures. We have several resources to read about qualifying for FHA ,VA ,USDA and Conventional Home Loans. We have a propreitory online prequal estimator that conveys a prequal loan amount based on data input for Ca Mortgages.