Buoyed by closings delayed from the month before as lenders adjusted to new mortgage disclosure rules, the recorded sales volume of single-family homes and condos in San Francisco jumped 19.2 percent from 490 in November to 584 in December, up 23.7 percent versus the same time last year. Sales in San Francisco typically tick up around 3 percent from November to December based on normal seasonality.
At the same time, the median sale price for the San Francisco homes that changed hands in December was $1.124 million, down 2.3 percent from an all-time high of $1.15 million in November but 17.1 percent higher versus December 2014, according to data compiled by Corelogic.
Across the entire Bay Area, recorded home sales jumped 26.5 percent from November to December and were 17.4 percent higher versus the same time last year with a median sale price of $655,000, up 0.8 percent from November and 12.9 percent higher versus December 2014.
The median sale price in Alameda County was $655,000 in December, up 19.1 percent over the past year, with the median sale price in Oakland at $515,000 based on 390 sales, down from $550,000 in November but 23.4 percent higher versus December 2014.
Keep in mind that while movements in the median sale price are a great measure of what’s in demand and selling, they’re not necessarily a great measure of appreciation or changes in value and are susceptible to changes in mix.