According to DataQuick, recorded home sales volume in San Francisco fell 2.8% on a year-over-year basis last month (514 recorded sales in August ’09 versus 529 sales in August ‘08) and fell 1.2% compared to the month prior. The difference between recorded and listed sales activity continues to be driven by unlisted new construction sales (think discounts and expiring tax incentives).
San Francisco’s median sales price in August was $635,000, down 12.4% compared to August ’08 ($725,000) and down 1.2% compared to the month prior.
For the greater Bay Area, recorded sales volume in August was up 4.0% on a year-over-year basis but down 14.3% from the month prior (7,518 recorded sales in August ’09 versus 7,232 in August ’08 and 8,771 in July ’09), while the recorded median sales price fell 19.5% on a year-over-year basis, down 8.9% compared to the month prior and ending a four month string of upticks.
At the extremes, Alameda recorded a 21.0% year-over-year increase in sales volume (a gain of 267 transactions) on a 22.7% drop in median sales price while Solano recorded a 13.2% year-over-year increase in sales volume (a gain of 79 transactions) on a 25.7% drop in median sales price
As always, keep in mind that DataQuick reports recorded sales which not only includes activity in new developments, but contracts that were signed (“sold”) many months or even years prior and are just now closing escrow (or being recorded).
∙ Bay Area August home sales and median price fall [DQnews]
∙ San Francisco Recorded Sales Activity In July: Down 10.8% YOY [SocketSite]
∙ San Francisco Listed Sales Volume In August: Down 10% YOY [SocketSite]