Supply Affects SF Bay Area March Home Sales


 Supply Affects SF Bay Area March Home Sales

The real estate tracking firm DataQuick says San Francisco Bay area home sales dipped in March compared to the same period in 2012, but the median price rose on a year-over-year basis for the 12th consecutive month.

San Diego-based DataQuick said Thursday that the March results were due to demand continuing to outstrip supply in many areas.

DataQuick says 7,263 new and resale houses and condos sold in the nine-county area last month, up 34.4 percent from February but down 6 percent from March 2012.

The median price paid in March was $436,000, an increase of 7.7 percent from $405,000 in February and up 21.8 percent from $358,000 in March 2012.

DataQuick says transactions of $500,000 or greater helped push the median sale price up.

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