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The state’s median — the point at which half the homes sold for more and half for less — has fallen year-over-year for 10 consecutive months. The median’s bottom for the current real estate cycle was $221,000 in April 2009, and the peak was $484,000 in early 2007.
An estimated 34,695 houses and condos were sold last month. That was down 11% from June, and down 1.4% from July 2010. A decline from June to July is normal for the season
Of the existing homes sold last month, 34.6% had been foreclosed on during the past year. That was down from a revised 35.1% in June and down from 35.2% in July a year ago. The all-time high was in February 2009 at 58.5%.
Short sales –- transactions in which the sale price fell short of what was owed on the property -– made up an estimated 17.3% of resales last month. That was down from 17.4% in June and down from 18.6% a year earlier.
Indicators of market distress continue to move in different directions, San Diego-based DataQuick said. Foreclosures have declined sharply, but remain high by historical standards. Financing with multiple mortgages is low, down payment sizes are stable, and cash and non-owner occupied buying has eased a bit in recent months but remains relatively high.
The July median price in Southern California fell 4% from a year earlier to $283,000. A total of 18,090 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in July, down 4.5% percent from July 2010.
The median price in the Bay Area was $374,000, down 7% from July 2010. A total of 6,887 new and resale houses and condos sold in the nine-county area including San Francisco, up 1.7% from July 2010. | 
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