Recorded home sales volume in San Francisco increased 7.3% on a year-over-year basis last month (484 recorded sales in August 2011 versus 451 sales in August 2010), up 9.0% as compared to the month prior versus an average July to August increase of 0.3% over the past seven years. An average of 613 San Francisco homes have sold in August since 2004 when recorded sales volume hit at 814.
San Francisco’s median sales price in August was $618,500, down 5.2% on a year-over-year basis and down 8.4% as compared to this past July.
For the greater Bay Area, recorded sales volume in August was up 12.2% on a year-over-year basis, up 9.1% from the month prior (7,513 recorded sales in August ’11 versus 6,698 in August ’10 and 6,887 in July ’11) as the recorded median sales price fell 3.9% year-over-year, down 1.1% month-over-month.
At the extremes, Napa was the only County to not record an uptick in sales volume (flat at 121) but did record a 9.6% decline in median sales price, while Marin recorded a 28.8% increase in volume (up 59 transactions) on a 4.5% decline in median price. Santa Clara was the only county to record an uptick in median sales price at 2.4%.
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 Housing Market Takes a Breather [DQNews]
∙ San Francisco Recorded Sales Activity Down 1.8% In July [SocketSite]
