Before I post my update I just got this data from local board of realtors. Here are median sales prices the last 5 months for both detached and attached homes in North County (which is a wider area than my report covers but not a bad comp)
Attached
April 22 740K
May 22 698K
June 22 690K
July 22 682K
Aug 22 673K
Thats down 9.1% in 4 months
Detached
April 22 1.1M
May 22 1.1M
June 22 1.08M
July 22 1.02M
Aug 22 985K
Thats down 10.5% in 3 months
Ive been saying for a few over a month prices are down about 10% from peak and now have the data. I think once the properties that went under contract in Aug close in Sept it will be a few % more. By year end we should be down close to 15% from Spring peak numbers.
This data should reach the media soon. I suspect they will focus on the fact that prices are up year over year rather than what has happened the last few months. Will be fun to watch how they report this.
