Home Prices on the Rise

Signs indicate the housing market is on the mend.

Home values are beginning to climb according to Standard & Poor’s/Case-Shiller index of prices.  The Los Angeles Times reports that prices for homes in the 20 biggest U.S. cities rose to their highest levels in two years.

The real estate website Trulia shows the average listing price for homes in Benicia is $391,626.  

Do you think the housing market is starting to turn around? 

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If there’s something in this article you think should be corrected, or if something else is amiss, call editor JB Davis at 707-628-0051 or email him at benicia@patch.com.

Rod Herman September 27, 2012 at 04:12 PM
Public web sites like Trulia, Zillow, Realtor.com, etc. usually show some homes as active listings even though they've been under contract for a while...not to mention homes in default where the owner hasn't even yet put the home up for sale. And it doesn't always catch numeric errors, like the $498,500-priced Benicia home that it's currently showing priced at $4.985 million. That nearly $4.5 million typo is no doubt included in Trulia’s average list price calculation. So here's the "real" story, based on data I just downloaded from our multiple listing service: * There are 37 active listings (not 315, as Trulia presently shows) * The average Current list price is $453,859 (not $391,626 as in your post) * The highest list price in Benicia right now is $998,000 (on W K) * Since Aug. 15, there have been 45 closed sales in Benicia * The median sale price from was $326,000 (6/1-8/31) Even with the huge $4.5 million typo, as you can see, the average list price Trulia shows is more than $60,000 BELOW the REAL average LP. Their closed sales data is off, too, but the discrepancy is not as pronounced (Trulia shows a $320k median sales price from 6/1-8/31; the REAL figure, as shown above was $326k). As a long-time practicing real estate agent here in Benicia (and admitted stat hound), I would be happy to provide periodic statistical updates for The Patch, which will be far more accurate and meaningful than these pseudo stats that public sites like Trulia provide.
JB Davis September 28, 2012 at 01:39 AM
Thank you for the corrections and know that we'd be happy to have the updates.
Joe Feltcher September 28, 2012 at 02:05 AM
I was wondering about that $4.5 million listing. Figured it must have a solid gold bath tub or something.
Billy September 28, 2012 at 03:04 PM
Yes, Joe, realtors are again succeeding at their home price inflation racket.


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