Slight uptick in Bay Area home sales and prices
Slight uptick in Bay Area home sales and prices
In September, home sales in the Bay Area went up slightly as buyers took advantage of low mortgage interest rate and a tax credit due to expire at the end of November. Bay Area home sales climbed 8.4 percent in September from a year ago according to MDA DataQuick. The median price in the nine-county Bay Area was $365,000 in September, up 1.4 percent from August and down 8.8 percent from $400.000 in September 2008.
The median price for the Bay Area counties are as follows: San Francisco- $650,000, Alameda- $358,000, Contra Costa- $262,000, Marin- $636,000, Napa- $360,000, Santa Clara- $450,000, San Mateo- $570,000, Solano- $199,000, and Sonoma- $320,000.
Foreclosure home sales accounted for 32.8 percent of all homes that resold last month in the Bay Area, down from 34.4 percent in August and the lowest level since the figure was 29.9 percent in June 2008.
Bay Area buyers paid $1,578 for the mortgage, down from $1,580 in August and down from $1,927 a year ago.
DataQuick-10/15/2009