The number of single-family homes and condos that traded hands across the greater Bay Area totaled 6,825 in December, down 5.9 percent from a downwardly revised 7,250 sales in November and 3.9 percent lower versus the same time last year.
And in San Francisco, the recorded sales volume dropped to 427 last month, which was 17.7 percent lower than in November, 21.1 percent lower on a year-over-year basis and the slowest December since 2011, according to recorded sales data from CoreLogic as charted above.
In Alameda County, recorded homes sales slipped 1.2 percent from November (1,556) to December (1,537) and 1.1 percent lower versus the same time last year and sales in Contra Costa County dropped 3.5 percent to 1,360, which is 5.4 percent lower on a year-over-year basis, while sales in Solano County actually gained 10.5 percent in December to 612, which was 3.6 percent higher versus December 2016.
Home sales in Santa Clara County slipped 1.9 percent from November (1,550) to December (1,520) but and were 5.2 percent lower versus the same time last year while recorded sales in San Mateo County dropped 11.8 percent from November (621) to December (548) but were effectively unchanged (up 0.2 percent) versus 2016.
And having taken a fire related hit in October, home sales in Napa ticked up 6.6 percent from November (121) to December (129) and were 4.0 percent higher on a year-over-year basis while sales in Sonoma County dropped 21.1 percent from November (597) to December (471) but were 1.7 percent higher versus the same time last year, and sales in Marin dropped 31.6 percent from 323 in November to 221 in December and were 9.4 percent lower versus December 2016.
The median price paid for those aforementioned 427 homes in San Francisco was $1,174,000, down 9.7 percent from the record tying median price the month before but 6.7 percent higher than at the end of 2016.
The median sale price in Alameda County was $760,000 in December, down 3.2 percent from November but 12.6 percent higher versus the same time last year; the median sale price in Contra Costa County was $550,000, down 5.4 percent on a year-over-year basis; and the median sale price in Solano County was $410,000, up 1,2 percent from November and 5.1 percent higher, year-over-year.
The median sale price in Santa Clara County was a record $1,000,000 in December, up 2.0 percent versus November and 24.2 percent higher versus the same time last year while the median sale price in San Mateo County was $1,200,500 in December, down 5.8 percent from November but 19.1 percent higher, year-over-year.
The median sale price in Marin was $950,000 last month having slipped 0.2 percent from November but was still 10.8 percent higher versus the same time last year while the median in Napa was $632,500, down 2.7 percent from November but 12.9 percent higher versus the same time last year, and the median in Sonoma was $615,000 last month, unchanged from November but 16.9 percent higher versus December 2016.
Across the greater Bay Area, the median home sale price dropped 4.5 percent in December to $750,000 but remains 12.1 percent higher versus the same time last year.
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.