The recorded sales volume of single-family homes and condos in San Francisco fell 36.1 percent from 584 in December to 373 last month, which is right in-line with a typical seasonal drop, but the volume was 16.7 percent higher versus the same time last year.
And the median sale price for the San Francisco homes that changed hands in January was a record $1.167 million, 1.5 percent above the previous record of $1.15 million set in November and 32.3 percent higher versus January 2015, according to data compiled by Corelogic.
Across the entire Bay Area, recorded home sales dropped an above-average 38.5 percent from November to December but were 7.1 percent higher versus the same time last year with a median sale price of $625,500, down 4.5 percent from December but 15.4 percent higher versus January 2015.
And based on 979 sales, which was 43.5 percent lower versus December but 14.0 percent higher versus the same time last year, the median sale price in Alameda County was $635,250 last month, down 3.0 percent from December but 21.0 percent higher versus January 2015.
Keep in mind that while movements in the median sale price are a great measure of what’s selling, they’re not necessarily a great measure of appreciation or changes in value and are susceptible to changes in mix, as opposed to movements in the Case-Shiller Index.