The median price of an existing Kern County home rose $9,000 last month, almost a 7 percent month-to-month increase, according to statistics released Friday by a local appraiser.
The median home price was $139,000 or only 13.1 percent below the same time last year, noted Gary Crabtree, who compiles the numbers into his Crabtree Report each month.
The market is stable, Crabtree said, indicating the number of houses for sale, the percentage of distressed listings, and foreclosed properties remained stable from September to October.
The most expensive home sold at $820,000 last month. While another home went for as little as $9,000.
"In my daily travels throughout the city, I continue to observe fewer "for sale" signs, more "pending and contingent" signs," Crabtree writes in his report.
"But still almost every neighborhood has a few vacant and/or abandoned homes giving rise to speculation that "we are a long way from the end of this housing crisis."
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