31% of Dec. Sales Were Foreclosures

Published: Monday, January 14, 2008 6:25 PM PST

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The median prices for homes sold in December, as reported today by DataQuick Information Systems were:

Resale detached: $470,000 (13 percent down from December 2006)

Resale condos/townhomes: $311,000 (18.2 percent down from December 2006)

New construction: $445,000 (3 percent down from December 2006)

I just chatted with Andrew LePage, DataQuick analyst, about them and he had a couple of other interesting bits to share.

LePage looked at all of the sales in December to see what the last action on the property had been. For 31 percent of the sales in December, that last action was a foreclosure. (That's compared to 4 percent in December 2006.)

I've got some more data I'll post in the morning about the median prices broken down by size.

-- KELLY BENNETT

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