According to DataQuick, the median sales price for existing homes in San Francisco was $825,000 last month, up 4.4% compared to a revised June ’06 ($790,000) but down 1.2% compared to the month prior. Sales volume, however, was down 10.2% year-over-year (633 sales in June ’07 versus a revised 705 sales in June ’06) but rose 2.8% compared to the month prior (616 recorded sales in May ‘07). And once again, think mix before jumping to too many conclusions.
For the greater Bay Area, the recorded median sales price in June was $665,000 (a revised year-over-year increase of 2.6%) and sales volume was 7,964 (down 26.5% from a revised 10,830 sales in June ’06). At the extremes, Napa recorded a 15.2% year-over-year reduction in median sales price (and 34.4% fewer sales) while Marin recorded a 15.8% year-over-year gain (and 22.7% fewer sales), and year-over-year sales volume continued to plummet in both Contra Costa (down 32.8%) and Solano (down 41.4%) counties.
As was noted, and in another nod to mix: “Bay Area homes continued to sell at their slowest pace in 12 years last month, led by sharp declines in many lower-cost neighborhoods. At the same time, sales [volume] tended to fare much better in higher-priced areas, which helped push the region’s overall median sale price to a new peak…”
∙ Bay Area home sales still slow, prices up [DQNews]
∙ San Francisco Home Sales Drop, Median Sales Price Up (Enter Mix) [SocketSite]
∙ A Little Mix Here, A Little Mix There, Here A Mix, There A Mix… [SocketSite]