Bay Area home sales climb as median falls below $300k
Bay Area home sales climb as median falls below $300k
Last month, Bay area home sales climbed above last year as median fell below $300,000. Other counties saw increase in sale volume and a decline in median price. San Francisco-$640,000, Alameda-$290,000, Contra Costa-$216,500, Marin-$573,409, Napa-$322,500, Santa Clara-$408,750, San Mateo-$646,500, Solano-$195,000 and Sonoma-$282,000.
Bay Area Home sales were the fifth-lowest for February since 1988 with a total sale of 5,032 new and resale houses and condos, 22 % below the average 6,410 last month. Only 321 newly constructed homes were sold last month, down 55% from 713 a year ago, the lowest on record for a February, and the lowest for any month since Dataquick started tracking home sales.
Foreclosure home sales continued to lead sale transactions, accounting for 52% of all homes that resold last month in the Bay Area. At the county level, foreclosure resales ranged from 12.1% in San Francisco to 69.5% in Solano.
Dataquick-03/19/2009