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California City Real Estate - california city real estate overview

market median price sales

California City, CA is a small rural community located about 100 miles northeast of Los Angeles. The median household income in the city, which has a population of around 15,000, is about $57,000 per year. The community is located near the Red Rock Canyon State Park as well as the Edwards Air Force Base. Like many other cities located in Southern California, the California City, California real estate market has undergone much turmoil over the past decade.

In early 2004, the California City, California real estate market had a median sales price of around $115,000. This sales price was unusual considering how expensive other communities in Southern California were. As the housing market took of in 2004, the median sales price in the California City, California real estate market skyrocketed before it peaked at around $240,000 in 2006. While the prices in the California City, California real estate market remained steady for about a year, the median sales price collapsed as the market turned for the worse. From early 2007 until early 2009, the median sales price in the California City, California real estate market fell to around $60,000.

One of the main reasons why the California City, California real estate market has struggled so much is the high rate of foreclosure. In March of 2010, 1 in every 44 households received a notice of default. This rate of default is one of the highest rates of default in the country. While the rate of foreclosure is extremely high, it appears that foreclosures have done all they can to the median sales price in that city. The median sales price in the California City, California real estate market has remained steady for about a year and the median listing price for a foreclosed home is about $64,000, which is right around the city wide average.

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