S.F. housing market warming up
S.F. housing market warming up
After a huge slowdown last winter, the housing market has been rebounding for the last three months. Buyers are looking for homes especially priced below $1 million. According to the California Association of Realtors, the median home price in San Francisco was $617,000 in March, while a year ago it was $755,000. Homebuyers are sensing that it is now the best time to buy a house and maybe this opportunity will pass by within a couple of next months. The biggest change in the median home price was observed in Contra Costa county where the price was $220,000 in March, a forty seven percent drop from the same month last year.
Median Home prices in the Bay Area (March 2008-2009):
|
County |
March 2009 |
March 2008 |
Change |
|
San Francisco |
$617,000 |
$755,000 |
-18.3% |
|
Contra Costa |
$220,000 |
$417,000 |
-47.0% |
|
Santa Clara |
$405,000 |
$675,000 |
-40.0% |
|
Los Angeles |
$300,000 |
$449,000 |
-33.2% |
|
Sonoma |
$301,000 |
$410,000 |
-26.6% |
SF Examiner- 5/7/2009