The California Association of REALTORS® (C.A.R.) reports that both prices and sales of single family homes fell this past December in the San Francisco Bay Area. According to C.A.R., the median sales price fell 1.4% while sales volume fell 9.8% from the month prior (down 14.2% from December 2004).
As it stands, year-over-year price appreciation for single family homes in the San Francisco Bay Area now stands at around 8%, well below the double-digit appreciation of the past couple of years. It’s also interesting to note that statewide sales prices for single family homes remained flat (condo prices actually fell by .8%) and sales were off by 17.6% compared to December 2004.
∙ December 2005 Regional Sales and Price Activity [C.A.R.]