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Bay Area home sales rose in July

Bay Area home sales rose in July

In July, Bay Area home prices rose to the highest level in four years and median home price climbed for the fourth straight month. According to MDA DataQuick, Bay Area home sales rose 15.6 percent last month. The median price in the nine-county Bay Area was $395,000 in July, up 12.2 percent from last month and down 16% from July 2008.

The median price for the Bay Area counties are as follows: San Francisco- $642,426, Alameda- $340,000, Contra Costa- $261,000, Marin- $650,000, Napa- $342,500, Santa Clara- $490,000, San Mateo- $574,750, Solano- $200,000, and Sonoma- $328,000.

Foreclosure home sales accounted for 34.2 percent of all homes that resold last month in the Bay Area, the lowest level since July 2008.  

Bay Area buyers paid $1,739 for the mortgage, up from $1,585 in June and down from $2,359 a year ago.

DataQuick- 8/21/2009