According to the California Association of Realtors (CAR), the median sales price of a SF Bay Area home was $730,360 this past August (and sales volume dropped 3.7% compared to August ’04). While this does represent a $6k increase in the median sales price from July ‘05, it is still $4k below the June ’05 mark of $734k.
The CAR spin is “Sales in the San Francisco Bay Area continued to fall below last year’s pace, but remain at elevated levels that approximate the market in 2003…(and) the median price continued its trend of year-to-year percentage increases in the low teens.” True, but this is effectively the third month of no movement. Or taking a lesson from CAR, “a three month trend representing a zero percent annualized gain”…
Median price of a home in California at $568,890 [CAR]

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