Median Prices -January 2011 and Last January

February 9, 2011

Without considering the fluctuations in median prices for 2010, here are just two numbers - the median price for January 2011 and the median price for January 2010. To me the numbers show a market that has found a bottom and is waiting for supply and demand to determine its next direction.

Banning/Beaumont......January,2011/170,000......January,2010/171,500

Bloomington.................January,2011/165,000.......January,2010/135,000

Colton...........................January,2011/93.000.........January,2010/100,000

Fontana........................Janaury,2011/194,500.......January,2010/195,000

Grand Terrace.............January,2011/203,000......January,2010/236,000

Highland......................January,2011/162,000......January,2010/163,500

Loma Linda.................January,2011/250,000......January,2010/275,000

Mentone......................January,2011/157,000.......January,2010/200,000

Moreno Valley............Janaury,2011/150,000.......January,2010/150,000

Redlands.....................January,2011/217,900.......January,2010/212,500

Rialto..........................January,2011/160,000.......Janaury,2010/142,000

Riverside....................January,2011/189,000.......January,2010/185,500

San Bernardino.........January,2011/120,000.......Janaury, 2010/95,000

Yucaipa/Calimesa.....Janaury,2011/195,000.......January,2010/177,000

Just a reminder. These numbers are obtained from the CRMLS by taking the total number of closed single family home transactions, dividing by two and using the sales price of the property at the number indicated by the division into halves.

The basic merit of this technique is that the formula is used consistently so that it does indicate at what price things are better or less than.