DataQuick: Slight Drop in California Sales in August

There were nearly 2% fewer homes sold in California in August compared with July’s revised figures, although it is over 3% when compared with August 2012, according to DataQuick.

Furthermore, the 42,546 new and used homes sold in August was the best for that particular month since August 2006, when 51,054 homes were sold.

In July there were 43,381 sales, while in August 2012 there were 41,280.

The median price paid in August for a California home was $361,000, down 0.6% from June’s $363,000 but up 28.5% from $281,000. DataQuick said this makes 18 consecutive months of a year-over-year price increase.

Foreclosure sales made up 7.8% of the August volume, the lowest percentage since July 2007. This is down from 8.3% in July. Short sales made up 13.2% of August sales, down from 14.4% in July.