Calaveras County, CA…Calaveras home sales softened in April, but the housing market momentum picked up in May and continued to be solid through the month of Jun as the spring home-buying season marked higher year-over-year home sales and prices for the fourth straight month, the CALAVERAS COUNTY ASSOCIATION OF REALTORS® (C.C.A.R.) said today.

Home sales rose during the second quarter of this year, the second highest level in
nearly two years. Closed escrow sales of existing, single-family detached homes in
Calaveras totaled a seasonally adjusted annualized rate of 453 units with 329 still
pending sale, according to information collected by C.C.A.R. from the local
REALTOR® association MLS. The sales figure represents what would be the total
number of homes sold during 2015 if sales maintain the second quarter pace
throughout the year. It is adjusted to account for seasonal factors that typically
influence home sales.

The second quarter figure was up 26.39 percent as it pertains to volume of home
sales. Home values were up by 9.84 percent from a year ago. These sales figures so
far have outpaced last year by more than 5 percent.

The list price to sell price ratio is down by .18 percent. Sales-to-list price ratio is an
indicator that reflects the negotiation power of home buyers and home sellers under
current market conditions. The ratio is calculated by dividing the final sales price of a
property by its last list price and is expressed as a percentage. A sales-to-list ratio with
100 percent or above suggests that the property sold for more than the list price, and a
ratio below 100 percent indicates that the price sold below the asking price.
“Home buying continues to be strong, especially in areas where insufficient housing
supply is less of an issue,” said C.C.A.R. Administrative Officer
Valerie Moon. “With mortgage interest rates edging up recently and an imminent
increase in rates by the Federal Reserve, housing affordability concerns will be
heightened but may also prompt prospective buyers to feel a sense of urgency to enter
the market.”

The median price of an existing, single-family detached Calaveras home edged up in
from both the previous quarter and year for the sixth consecutive month. The median
home price is up to $259,500. A 6.42 percent increase in value over this time last year.
The median sales price is the point at which half of homes sold for more and half sold
for less; it is influenced by the types of homes selling as well as a general change in
values.

“A healthy growth rate in home prices is an essential ingredient to a sustainable
housing market recovery,” said Moon adding, “With the statewide median price
increasing at a pace more in line with the historical norms since late 2014, regional
markets across the county are finally showing sales improvements this year.”

Mortgage rates increased in May, with the 30-year, fixed-mortgage interest rate
averaging 3.84 percent, up from 3.67 percent in April but down from 4.19 percent in
May 2014, according to Freddie Mac. Adjustable-mortgage interest rates edged up in
May, averaging 2.49 percent, up slightly from 2.46 in April and 2.43 percent in May
2014. Rates can change throughout the day and even a small difference can end up
saving or costing you money.

Information is deemed reliable but not guaranteed. Sales data and information does not include
sales outside of the multiple listing service registered listings.
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