Recorded home sales volume in San Francisco was up 2.8% on a year-over-year basis last month (448 recorded sales in October 2011 versus 436 sales in October 2010), up 12.3% as compared to the month prior and versus an average September to October increase of 0.1% over the past seven years. An average of 543 San Francisco homes have sold in October since 2004 when recorded sales volume hit at 720.
San Francisco’s median sales price in October was $635,000, down 2.6% on a year-over-year basis, up 3.5% as compared to September in which the median was down 1.0% YoY.
For the greater Bay Area, recorded sales volume in October was up 5.3% on a year-over-year basis, down 4.5% from the month prior (6,444 recorded sales in October ’11 versus 6,122 in October ’10 and 6,749 in September ’11) as the recorded median sales price was down 8.6% year-over-year, down 4.1% month-over-month.
At the extremes, Sonoma County recorded a 26.9% increase in sales volume (a gain of 104 transactions) on a 8.3% decline in median sales price, while Contra Costa County recorded a 0.3% decrease in sales (a loss of 4 transactions) on a 3.6% decline in median price. Napa was the only Bay Area county to record an increase in median sales price (up 1.0%) while the median dropped 10.4% in Santa Clara.
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 Home Sales Up From 2010, Prices Down [DQNews]
∙ Recorded San Francisco Sales Activity Drops 9.7% In September [SocketSite]