The number of single-family homes and condos that traded hands across the greater Bay Area totaled 7,122 in March, a 3.3 percent drop in volume versus the same time last year, versus a 9.0 percent gain over the previous year, according to recorded sales data from CoreLogic.
And in San Francisco, the recorded sales volume of 457 transactions was 16.1 percent lower on a year-over-year basis and the slowest March, in terms of transaction volume, since 2009.
In Alameda County, recorded homes sales in March (1,504) were down 3.1 percent on a year-over-year basis, while sales in Contra Costa County (1,423) were down 5.8 percent and sales in Solano County (566) were down 8.9 percent.
At the same time, home sales in Santa Clara County (1,657) were 3.0 percent higher on a year-over-year basis and sales in San Mateo County (593) were up 1.9 percent.
While home sales in Napa (99) were down 31.7 percent versus the same time last year, home sales in Sonoma County (587) were up 9.7 percent as the post wildfire recovery continues. And March sales in Marin (237) were down 9.9 percent, year-over-year.
The median price paid for those aforementioned 457 homes in San Francisco was $1,300,000, matching the record-tying mark last reached in November and 11.8 percent higher than at the same time last year.
The median sale price in Alameda County was $810,000 last month, 11.0 percent above the mark at the same time last year; the median sale price in Contra Costa County was $591,000, 8.4 percent higher on a year-over-year basis; and the median sale price in Solano County was $425,000, 11.0 percent higher than in March of 2017.
The median sale price in Santa Clara County ($1,200,000) was 33.6 percent higher than at the same time last year and the median sale price in San Mateo County ($1,320,000) was 25.7 percent higher, year-over-year.
Up in Marin, the median sale price was $1,143,500, 23.0 percent above the mark in March of 2017. The median in Napa was $610,000, which was 2.1 percent above its mark at the same time last year, and the median price in Sonoma was down 4.5 percent to $530,000.
Across the greater Bay Area, the median home sale price was a record $820,000, 14.7 percent above the mark at 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.