Bay Area home prices see first annual increase in 2 years
Bay Area home prices see first annual increase in 2 years
In October, median sales price in the Bay Area noted a modest gain from a year ago, the first time year-to-year in nearly two years. Bay Area home sales climbed 4.2 percent in October from a year ago and 0.7 percent from September, according to MDA DataQuick. The median price in the nine-county Bay Area was $390,000 in October, up 4 percent from last year.
The median price for the Bay Area counties are as follows: San Francisco- $690,824, Alameda- $369,000, Contra Costa- $280,000, Marin- $599,750, Napa- $360,000, Santa Clara- $500,000, San Mateo- $580,000, Solano- $195,000, and Sonoma- $331,000.
Foreclosure home sales accounted for 31.9 percent of all homes that resold last month in the Bay Area, down from 32.3 percent in September and 44 percent in October 2008.
Bay Area buyers paid $1,665 for the mortgage, up from $1.578 in September and down from $1,837 a year ago.
DataQuick-11/19/2009