Bay Area median home price up 14% in September vs. last year

c5a3c 494070865 300x200 Bay Area median home price up 14% in September vs. last year

San Francisco Prices Continue To Lead National Trend Of Rising Home Cost

In this file photo, a sold sign is posted in front of a home for sale in San Francisco. (Justin Sullivan/Getty Images)

The median price paid for a Bay Area home or condo in September was $604,000. That was up 14 percent since September of last year but down 0.5 percent from August, according to CoreLogic DataQuick.

Although 14 percent is still a healthy year-over-year gain, in September of 2013 the median price was up 23 percent over the previous September. So price increases are continuing to moderate.

“Prices appear to have flattened out at a level reached this spring,” DataQuick said in a press release. The median price has declined slightly on a month-to-month basis since June, when it was $618,000. Its all-time high was $665,000 in June and July 2007.

Year over year, the county with the biggest median-price increase in September was Marin (up 17.3 percent) and the county with the smallest increase was Santa Clara (up 8.5 percent).

On a month-to-month basis, Napa County had the biggest increase (up 7 percent) and Alameda County had the biggest drop (down 8.2 percent).

In San Francisco, the median price in September was $938,000, which was up 14.4 percent year over year but down 0.2 percent from August.  It has declined every month since hitting a record $1 million in June.

The number of Bay Area homes and condos sold in September hit 7,443, which was up 4.2 percent since last year but down 1.8 percent compared to August. Sales typically decline between August and September. Last month’s sales were the highest for any September since 2009. 

Here are DataQuick’s numbers, which include new and resale homes and condos that closed in September, taken from county recorders’ offices.

c5a3c september sales Bay Area median home price up 14% in September vs. last year

Source: CoreLogic DataQuick

Article source: http://blog.sfgate.com/pender/2014/10/14/bay-area-median-home-price-up-14-in-september-vs-last-year/

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