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Bay Area Home Sales Dip Below 2012 Level Again; Median Sale Price Rises

Sat, 20 Apr 2013 10:44:19 +0000

La Jolla, CA – April 18, 2013 – (RealEstateRama) — Bay Area home sales fell below a year earlier for the second consecutive month in March as demand continued to outstrip supply in many markets. While low-end sales fell sharply compared with March 2012, $500,000-plus transactions jumped, helping to push the median sale price up on a year-over-year basis for the 12th consecutive month, a real estate information service reported.

A total of 7,263 new and resale houses and condos sold in the nine-county Bay Area last month. That was up 34.4 percent from 5,404 the month before, and down 6.0 percent from 7,723 in March 2012, according to San Diego-based DataQuick.

It’s normal for sales to jump between February and March, with that gain averaging 39.5 percent since 1988, when DataQuick’s statistics begin. March sales have ranged from a low of 4,898 in 2008 to a high of 12,645 in 2004. Last month’s sales were 17.1 percent lower than the March average of 8,758.

The median price paid for a home in the nine-county Bay Area last month was $436,000. That was up 7.7 percent from $405,000 in February and up 21.8 percent from $358,000 in March last year.

The median has risen on a year-over-year basis for 12 consecutive months, with double-digit year-over-year gains the last ten months, and increases above 20 percent for the past five months.

Still, last month’s median was 34.4 percent lower than the $665,000 peak in June and July of 2007. In March 2009 the median hit its post-peak low of $290,000. That trough was an almost absurdly low level for the Bay Area, reflecting both widespread price declines as well as robust sales of heavily discounted inland foreclosures at a time high-end sales were all but dormant.

It appears that well over half of the 21.8 percent year-over-year increase in March’s median sale price reflects rising home prices. It’s Economics 101: Prices go up as growing demand meets an exceptionally low supply of homes for sale. However, a portion of the March median’s year-over-year gain reflects a change in market mix – sales of low-cost distress homes have fallen sharply, while sales of pricier move-up homes have shot up.

“Higher sales in the middle and top of the housing market reflect improved consumer confidence, ultra-low mortgage rates and the unleashing of more pent-up demand than many anticipated. There’s been a shift in psychology, where more people worry prices will rise and fewer fear a decline. It’s drawn a lot of folks off the fence following a long stretch of sub-par sales, especially in the higher price ranges. In the more affordable markets, we’ve seen a big drop in foreclosures, which limits the supply of homes for sale. Then you have homeowners who still can’t sell because they owe more than their homes are worth,” said John Walsh, DataQuick president.

“The more prices rise, though, the more likely we’ll see a lot more people put their homes on the market,” Walsh added. “There’s pent-up demand among potential sellers, too, and many will try to move as soon as it makes sense. A substantial jump in inventory would at least moderate home price growth.”

Last month the number of homes that sold for less than $500,000 fell 18.9 percent compared with March 2012, while the number that sold for $500,000 or more rose 25.2 percent, DataQuick reported.

Distressed property sales – the combination of foreclosure resales and “short sales” – made up about 30 percent of the resale market in March. Last month’s figure, which was the lowest in five years, was down from about 35 percent in February and down from about 49.0 percent a year ago.

Foreclosure resales – homes that had been foreclosed on in the prior 12 months – accounted for 10.7 percent of Bay Area resales last month, down from 14.0 percent in February, and down from 25.5 percent a year ago. Last month’s level was the lowest since foreclosure resales were 10.1 percent of the resale market in November 2007. Foreclosure resales peaked at 52.0 percent in February 2009. The monthly average over the past 18 years is 10.2 percent.

Short sales – transactions where the sale price fell short of what was owed on the property – made up an estimated 19.0 percent of Bay Area resales last month. That was down from an estimated 20.5 percent in February and down from 23.8 percent a year earlier.

Jumbo loans, mortgages above the old conforming limit of $417,000, accounted for 39.7 percent of last month’s purchase lending, up from 37.1 percent in February, and up from 30.7 percent a year ago. Jumbo usage dropped as low as 17.1 percent in January 2009. Before the credit crunch struck in August 2007, jumbos accounted for nearly 60 percent of the Bay Area purchase loan market.

Adjustable-rate mortgages (ARMs), another indicator of mortgage availability, accounted for 12.7 percent of the Bay Area’s home purchase loans last month. That was up from 11.0 percent in February, and up from 11.6 percent a year ago. Since 2000, ARMs have accounted for a monthly average of about 42 percent of all purchase loans. ARMs hit a low of 3.0 percent of purchase loans in January 2009.

Government-insured FHA home purchase loans, a popular, low-down-payment choice among first-time buyers, accounted for 12.3 percent of home purchase mortgages in March. That was down from 14.6 percent in February and down from 20.9 percent a year earlier. In recent months the FHA level has been the lowest since summer 2008, reflecting both tougher qualifying standards and the difficulties first-time buyers have competing with investors and other cash buyers.

The most active lenders to Bay Area home buyers last month were Wells Fargo with 14.8 percent of the purchase loan market, Stearns Lending with 4.5 percent, and RPM Mortgage with 3.6 percent.

Last month absentee buyers – mostly investors – purchased 27.3 percent of all Bay Area homes. That was down from 28.7 percent in February, and up from 24.2 percent a year ago. Absentee buyers paid a median $324,000 in March, up 29.6 percent from $250,000 a year earlier.

Buyers who appear to have paid all cash – meaning no sign of a corresponding purchase loan was found in the public record – accounted for 31.1 percent of sales in March. That was down from 32.3 percent the month before and up from 29.4 percent a year earlier. The monthly average going back to 1988 is 12.9 percent. Cash buyers paid a median $325,000 in March, up 30.0 percent from $250,000 a year earlier.

San Diego-based DataQuick monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts. Because of late data availability, sales were estimated for Alameda and San Francisco counties.

The typical monthly mortgage payment that Bay Area buyers committed themselves to paying last month was $1,579. That was up from $1,460 in February, and up from $1,359 a year ago. Adjusted for inflation, last month’s payment was 44.1 percent below the typical payment in spring 1989, the peak of the prior real estate cycle. It was 58.7 percent below the current cycle’s peak in July 2007.

Indicators of market distress continue to decline. Foreclosure activity is well below year-ago and peak levels reached in the last few years. Financing with multiple mortgages is low, and down payment sizes are stable, DataQuick reported.

All Homes #Sold #Sold Pct. $Median Median Pct.

Source: DataQuick, www.DQNews.com

Media calls: Andrew LePage (916) 456-7157

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Bay Area May Home Sales, Median Price Inch Up From April; Fall below 2010
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Thea Miller Comments on Growing Luxury Real Estate Market

Tue, 12 Feb 2013 05:02:05 +0000

SAN FRANCISCO, Feb. 11, 2013 /PRNewswire-iReach/ — Business Insider has recently shed light on the “hottest” luxury real estate markets across the United States. San Francisco joins New York, Los Angeles, Miami, and Washington, DC on this collection of growing markets in the luxury real estate industry. Thea Miller , a sales and marketing professional who specializes in luxury properties, comments on the growth of the San Francisco market.

“As the Bay Area‘s housing market continues to heat up once again, it’s catching the attention of the media—and it is shining a spotlight on the rebound that the market is making,” comments Thea Miller . “In a front-page story in the Chronicle, titled ‘Bay Area Home Sales, Prices Surging,’ reporter Carolyn Said explores the extremely strong housing numbers that were released by DataQuick, which is a La Jolla-based information services company. She has examined the catalysts of the housing turnaround. DataQuick, in its monthly report, asserts that the median sale price for Bay Area properties in December rose to $442,750, a stunning 32 percent increase from a year ago and the largest jump in 25 years of record keeping.”

Miller goes on to explain that, according to the article, sales increased year-over-year for the 18th month in a row, ultimately climbing 4.5 percent in just the last month. She cites CaliforniaMoves.com data reporting that San Francisco and Santa Clara County achieved double-digit sales growth year over year with 29.5 percent and 13.1 percent increases, respectively.

“It’s good to see that Bay Area news and other media are on top of this story, but what’s especially gratifying is that they’re getting out the message that we have a severe shortage of homes for sale in the region and sellers are getting good prices for their homes once again,” asserts Miller. “My hope is that homeowners who have been sitting on the sidelines will begin to realize that this market presents a tremendous opportunity for them to get top dollar for their home. Right now, it’s a red-hot seller’s market. But as we know, it won’t always be that way. If traditional patterns apply this year, there will be some added inventory in March and April. This will bring more opportunities for buyers, but it will also incite additional competition between sellers, compared to the way the market stands today.”

Miller encourages any individuals who are contemplating selling a luxury property in the Bay Area to contact a qualified professional to discuss the value of putting their homes on the market while conditions are still in their favor.

ABOUT:

Thea Miller is a luxury property specialist. With over two decades of experience, Thea Miller guides her clients through the market in San Francisco, California. Thea Miller provides a high degree of customer support while paying close attention to detail and providing insight regarding local property values and activities. She is a member of The National Association of Realtors, The San Francisco Association of Realtors, The California Association of Realtors, Who’s Who in Luxury Real Estate, and Top Agent Network, of which she is a verified member.

Media Contact: Jordan Hope Mark-PR.com, (678) 685-8304, mark@mark-pr.com

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE Thea Miller

Article source: http://www.prnewswire.com/news-releases/thea-miller-comments-on-growing-luxury-real-estate-market-190648651.html

REMI’s Luxury Market of the Week is San Francisco Bay Area

Mon, 11 Feb 2013 10:59:05 +0000

The Real Estate Marketing Insider announces its Luxury Market of the Week as the San Francisco Bay Area, which saw a boom in luxury home sales in 2012.

La Jolla, CA (PRWEB) February 10, 2013

The Real Estate Marketing Insider named the winner of this week’s Luxury Market of the Week award following a news release in the SFGate. The award for the domestic market with the most potential for realtors went this week to San Francisco and its Bay Area.

Realtors and real estate leads experts report that the Bay Area saw a surge in sales of luxury properties in 2012. In addition to anecdotal reports from realtors that focus on luxury properties, SFGate reported on some inspiring numbers from the Bay Area’s luxury market. In 2012, 162 properties sold in the Bay Area for over $5 million. In the 9 counties of the Bay Area, over 11,000 $1 million-plus properties were sold. Among the reasons being cited for the boom are the recent successes of the tech industry in the area, as well as increased attention from foreign buyers.

California has always been a prime starting point for luxury property. All along its lengthy coastline, the Golden State offers pristine views, great tourism opportunities, and major urban areas within reach. Thanks to the tech industry and the Asian population in San Francisco, luxury buyers are starting to concentrate in the San Francisco area. Everything from beach front vacation rentals to Humboldt-area beach properties has attracted big money. Any realtor who lists a few luxury properties around the Bay Area should see them sell quickly, easily, and for a hefty price. Realtors looking to expand their luxury portfolios should take a closer look at REMI’s Luxury Market of the Week, before available listings in the area decrease.

The Real Estate Marketing Insider named the San Francisco Bay Area its Luxury Market of the Week. San Francisco enjoyed a huge push in the luxury market in 2012, with several $5 million-plus sales and over 11,000 million-dollar sales.

About the Real Estate Marketing Insider:

The Real Estate Marketing Insider is a valuable resource for realtors, home buyers and investors. REMI provides up-to-the-minute news, market analysis, and trend watches.

For the original version on PRWeb visit: http://www.prweb.com/releases/prwebluxury-housing-markets/02/prweb10407152.htm

Article source: http://www.sfgate.com/business/prweb/article/REMI-s-Luxury-Market-of-the-Week-is-San-4266428.php

REMI’s Luxury Market of the Week is San Francisco Bay Area

Sun, 10 Feb 2013 16:48:02 +0000

La Jolla, CA (PRWEB) February 10, 2013

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Article source: http://www.prweb.com/releases/luxury-housing-markets/02/prweb10407152.htm

Rate of Recovery for Bay Area Real Estate Speeds Up

Sat, 19 Jan 2013 20:10:18 +0000

La Jolla, CA. – January 16, 2012 – (RealEstateRama) — The pace at which the Bay Area housing market is making up for lost ground quickened at the end of 2012 as sales increased year-over-year for the 18th month in a row and the median price rose at its fastest rate in more than 25 years. The market remained constrained by a tight supply of homes for sale and a fussy home loan environment, a real estate information service reported.

The median price paid for a home in the nine-county Bay Area was $442,750 in December. That was up 1.1 percent from $438,000 in November and up 32.0 percent from $335,500 in December a year ago. Last month’s median was the highest since August 2008 when it was $447,000, according to San Diego-based DataQuick.

The 32.0 percent year-over-year increase in the median is the highest in DataQuick’s statistics, which go back to 1988. At least half that increase is due to a change in market mix, with sales shifting away from low-cost distress homes toward more mid-market and move-up homes.

The median reached a high of $665,000 in June/July 2007 and then fell to a low of $290,000 in March 2009. On a year-over-year basis it dropped more than 30 percent each month from August 2008 through May 2009. At the median’s current rate of increase, sometime this spring it will have recovered about half of its loss since its summer 2007 peak.

“Prices are in the midst of bouncing off bottom right now, and nobody really knows what the trajectory of this bounce will be beyond this point. So far, supply has been a bottleneck, but as prices go up, more homes will be put up for sale,” said John Walsh, DataQuick president.

“Another bottleneck these days is that mortgage lenders are swamped. Not only by home buyers, but by homeowners who want to refinance. Rising home prices also mean higher appraisals, and tens of thousands of homeowners who couldn’t refinance half a year ago, now can,” Walsh said.

The number of new and resale houses and condos sold last month in the Bay Area was 7,832. That was up 7.3 percent from 7,296 in November, and up 4.5 percent from 7,494 for December 2011.

While last month’s sales count was the highest for any December since 8,372 were sold in 2006, it was still 9.0 percent below the 8,611 average for all Decembers since 1988. December sales have ranged from 5,065 in 2007 to 12,349 in 2003.

The number of homes sold for less than $500,000 decreased 12.6 percent year-over-year, while the number that sold for more than $500,000 shot up 61.2 percent, DataQuick reported.

Last month distressed property sales – the combination of foreclosure resales and “short sales” – made up 34.2 percent of the resale market. That was down from 35.5 percent in November and down from 52.4 percent a year ago.

Foreclosure resales – homes that had been foreclosed on in the prior 12 months – accounted for 11.8 percent of resales in December, down from a revised 12.5 percent in November, and down from 27.8 percent a year ago. Last month was the lowest since 10.1 percent in November 2007. Foreclosure resales peaked at 52.0 percent in February 2009. The monthly average for foreclosure resales over the past 17 years is about 10 percent.

Short sales – transactions where the sale price fell short of what was owed on the property – made up an estimated 22.4 percent of Bay Area resales last month. That was down from an estimated 23.0 percent in November and down from 24.6 percent a year earlier.

Jumbo loans, mortgages above the old conforming limit of $417,000, accounted for 40.2 percent of last month’s purchase lending, down from a revised 40.3 percent in November, and up from 26.5 percent a year ago. Jumbo usage dropped to 17.1 percent in January 2009. Before the credit crunch struck in August 2007, jumbos accounted for nearly 60 percent of the Bay Area purchase loan market.

Adjustable-rate mortgages (ARMs), an important indicator of mortgage availability, accounted for 11.1 percent of the Bay Area’s home purchase loans. That was down from a revised 12.0 percent in November, and down from 11.6 percent in December last year. Since 2000, ARMs have accounted for 48.7 percent of all purchase loans. ARMs hit a low of 3.0 percent of loans in January 2009.

Government-insured FHA home purchase loans, a popular choice among first-time buyers, accounted for 18.9 percent of all Bay Area home purchase mortgages in December, up from 17.0 percent in November and down from 22.9 percent a year earlier. In recent months the FHA level has the been the lowest since summer 2008, reflecting both tougher qualifying standards and the difficulties first-time buyers have competing with investors and other cash buyers.

The most active lenders to Bay Area home buyers last month were Wells Fargo with 15.5 percent of the market, RPM Mortgage with 4.2 percent and Stearns Lending with 3.4 percent.

Last month absentee buyers – mostly investors – purchased 25.8 percent of all Bay Area homes, an all-time high (absentee statistics go back to January 1999). Last month’s absentee level was up from 24.9 percent in November, and up from 23.8 percent a year ago. Absentee buyers paid a median $315,000 in December, up 34.0 percent from $235,000 a year earlier.

Buyers who appear to have paid all cash – meaning no corresponding purchase loan was found in the public record – accounted for 29.3 percent of sales in December. That was unchanged from November, and up from 27.3 percent a year ago. The monthly average going back to 1988 is 12.5 percent. Cash buyers paid a median $312,500 in December, up 36.2 percent from $229,500 a year earlier.

The typical monthly mortgage payment that Bay Area buyers committed themselves to paying last month was $1,561. That was up from $1,544 in November, and up from $1,336 a year ago. Adjusted for inflation, last month’s payment was 44.9 percent below the typical payment in spring 1989, the peak of the prior real estate cycle. It was 59.3 percent below the current cycle’s peak in July 2007.

Indicators of market distress continue to decline. Foreclosure activity remains high by historical standards but well below peak levels reached three years ago. Financing with multiple mortgages is low, down payment sizes are stable, DataQuick reported.

(chart)

All Homes #Sold #Sold Pct. $Median Median Pct.

Dec-11 Dec-12 Chng Dec-11 Dec-12 Chng

Alameda 1,584 1,623 2.5% $328,000 $410,000 25.0%

Contra Costa 1,534 1,530 -0.3% $259,000 $333,500 28.8%

Marin 280 291 3.9% $517,818 $660,750 27.6%

Napa 132 129 -2.3% $317,500 $350,000 10.2%

Santa Clara 1,611 1,822 13.1% $440,000 $544,500 23.8%

San Francisco 499 646 29.5% $594,500 $720,000 21.1%

San Mateo 602 626 4.0% $500,000 $600,000 20.0%

Solano 714 610 -14.6% $182,250 $218,000 19.6%

Sonoma 538 555 3.2% $279,500 $345,000 23.4%

Bay Area 7,494 7,832 4.5% $335,500 $442,750 32.0%

Source: DataQuick, DQNews.com

edia calls: Andrew LePage (916)456-7157

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Bay Area May Home Sales, Median Price Inch Up From April; Fall below 2010
La Jolla, CA. – June 15, 2011 – (RealEstateRama) — The Bay Area housing market in May posted modest month-to-month gains in sales and median prices, but those same measures fell sharply from year-ago levels, which had been pumped up artificially by homebuyer tax credits. Move-up buying and new-home sales were especially weak last month, while the share of…

Bay Area June Home Sales Surge, Median Price Edges Up to 2011 High
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Southland Closes 2012 With Higher Sales and Prices
La Jolla, CA – January 15, 2012 – (RealEstateRama) — Southern California’s housing market ended 2012 with the highest December home sales in three years, the result of robust investment activity, a record level of cash buyers and more sales gains in move-up markets. The median sale price jumped nearly 20 percent from a year ago, pushed higher by greater…

December Existing-Home Sales Show Uptrend
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Pending Home Sales Continue Recovery, Gradual Improvement Seen in 2011
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Bay Area August Home Sales Highest Since 2006

Wed, 19 Sep 2012 05:29:45 +0000

La Jolla, CA.-The Bay Area posted its strongest home sales for the month of August in six years, the result of low mortgage interest rates, an improving economy and increasing demand in mid- to move-up market segments. The median price paid for a home eased back a notch from June and July, but was well ahead of last year for the fifth consecutive month, a real estate information service reported.

A total of 8,579 new and resale homes were sold in the nine-county Bay Area last month. That was up 1.4 percent from 8,461 in July, and up 14.2 percent from 7,513 for August 2011.

A July-to-August sales increase is normal for the Bay Area summer season. August sales have varied from 6,688 in 1992 to 13,940 in 2004, while the average for all months of August since 1988, when DataQuick’s statistics start, is 9,638.

The median price paid for all new and resale houses and condos sold in the Bay Area last month was $410,000. That was down 2.6 percent from $421,000 in July, and up 10.8 percent from $370,000 in August 2011.

The Bay Area median almost always drops from July to August. Roughly half the year-over-year increase in the median can be attributed to a shift in market mix.

The median’s low point of the current real estate cycle was $290,000 in March 2009. The peak was $665,000 in June/July 2007. Around half of the median’s peak-to-trough drop was the result of a decline in home values, while the other half was the result of a shift in the sales mix.

“Most economists agree that the housing market is off bottom. But there’s a big gap between the market being ‘off bottom’ and being normal, which it’s not. The single biggest bottleneck is still the dysfunctional mortgage lending market. It’ll be interesting to see how yesterday’s announcement that the Fed is going to buy mortgage-backed securities plays out,” said John Walsh, DataQuick president.

Jumbo loans, mortgages above the old conforming limit of $417,000, accounted for 38.7 percent of last month’s purchase lending, up from a revised 38.6 percent in July, and up from 32.9 percent a year ago. Last month was the highest since 43.4 percent in November 2007. In the current cycle, jumbo usage dropped to as low as 17.1 percent in January 2009. Before the credit crunch struck in August 2007, jumbos accounted for nearly 60 percent of the Bay Area purchase loan market.

Adjustable-rate mortgages (ARMs), an important indicator of mortgage availability, declined again last month, accounting for 12.8 percent of the Bay Area’s home purchase loans. That was down from a revised 13.5 percent in July, and down from 16.0 percent in August last year. Since 2000, ARMs have accounted for 49.4 percent of all purchase loans. ARMs hit a low of 3.0 percent of loans in January 2009.

Government-insured FHA home purchase loans, a popular choice among first-time buyers, accounted for 16.1 percent of all Bay Area home purchase mortgages last month. That was the same as in July and down from 21.1 percent a year earlier.

The most active lenders to Bay Area home buyers last month were Wells Fargo with 17.0 percent of the market, RPM Mortgage with 4.6 percent and Bank of America with 3.3 percent. A year ago, Bank of America’s market share was 8.2 percent.

Last month 40.2 percent of Bay Area sales were for $500,000 or more, down from a revised 42.0 percent in July, and up from 35.9 percent in August 2011. The low for the current cycle was January 2009, when just 22.7 percent of sales crossed the $500,000 threshold. Over the past 10 years, a monthly average of 48.0 percent of homes sold for $500,000-plus.

Last month distressed property sales – the combination of foreclosure resales and “short sales” – made up about 33.8 percent of the Bay Area’s resale market. That was down from 34.0 percent in July and down from 43.8 percent a year ago.

Foreclosure resales – homes that had been foreclosed on in the prior 12 months – accounted for 14.9 percent of resales in August, down from a revised 15.1 percent in July, and down from 25.7 percent a year ago. Last month was the lowest since 14.0 percent in December 2007. Foreclosure resales peaked at 52.0 percent in February 2009. The Bay Area’s monthly average for foreclosure resales over the past 17 years is about 10 percent.

Short sales – transactions where the sale price fell short of what was owed on the property – made up an estimated 18.9 percent of Bay Area resales last month. That was the same as in July and up from 18.1 percent a year earlier.

Absentee buyers – mostly investors – purchased 23.0 percent of all Bay Area homes sold last month, up from a revised 22.6 percent in July, and up from 21.2 percent a year ago. Absentee buyers paid a median $264,500 in August, up 5.8 percent from a year ago.

Buyers who appear to have paid all cash – meaning there was no evidence of a corresponding purchase loan in the public record – accounted for 28.0 percent of August sales. That was up from a revised 27.6 percent in July, and up from 27.5 percent a year ago. The monthly average going back to 1988 is 12.6 percent. Cash buyers paid a median $273,250 in August, up 9.3 percent from a year earlier.

The typical monthly mortgage payment that Bay Area buyers committed themselves to paying last month was $1,491, down from $1,522 in July, and up from $1,460 a year ago. Adjusted for inflation, last month’s payment was 46.6 percent below the typical payment in spring 1989, the peak of the prior real estate cycle. It was 60.6 percent below the current cycle’s peak in July 2007.

Indicators of market distress continue to move in different directions. Foreclosure activity remains high by historical standards but below peak levels reached over the last three years. Financing with multiple mortgages is low and down payment sizes are stable, DataQuick reported.

(chart)

All Homes #Sold #Sold Pct. $Median Median Pct.

Aug-11 Aug-12 Chng Aug-11 Aug-12 Chng

Alameda 1,498 1,828 22.0% $349,000 $380,000 8.9%

Contra Costa 1,576 1,649 4.6% $260,500 $300,000 15.2%

Marin 264 341 29.2% $619,500 $634,000 2.3%

Napa 121 160 32.2% $320,000 $350,000 9.4%

Santa Clara 1,731 1,892 9.3% $492,000 $542,750 10.3%

San Francisco 484 625 29.1% $618,500 $700,000 13.2%

San Mateo 678 716 5.6% $570,000 $592,500 3.9%

Solano 595 693 16.5% $185,000 $190,000 2.7%

Sonoma 566 675 19.3% $305,000 $345,000 13.1%

Bay Area 7,513 8,579 14.2% $370,000 $410,000 10.8%

Source: DataQuick, DQNews.com

Article source: http://www.kionrightnow.com/story/19578820/bay-area-august-home-sales-highest-since-2006

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Bay Area Home Sales Dip Below 2012 Level Again; Median Sale Price Rises

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