Continuing to follow a trend which shouldn’t catch any plugged-in readers by surprise, while the number of single-family homes and condos that traded hands across the greater Bay Area increased a seasonally driven 13.7 percent from March to April, total sales (6,987) were down 7.6 percent on a year-over-year basis. And while the median sale price ticked up a seasonally driven 2.4 percent to $850,000, it was unchanged versus the same time last year, according to recorded sales data from CoreLogic.
In San Francisco, recorded sales totaled 572 last month, which was 5.1 percent higher on a year-over-year basis, another outcome which shouldn’t catch any plugged-in readers by surprise. But as we first reported earlier this month, the pace of sales in San Francisco has already started to retreat.
On the eastern side of the Bay, homes sales totaled 1,447 in Alameda County last month, down 6.2 percent on a year-over-year basis. Sales in Contra Costa County totaled 1,311 (down 9.5 percent). And sales in Solano County totaled 554 in April, down 7.4 percent versus the same time last year.
Down south, home sales in Santa Clara County totaled 1,549 in April, down 14.5 percent on a year-over-year basis, while sales in San Mateo totaled 589, up a nominal 0.2 percent versus the same time last year.
And up north, home sales in Napa totaled 115 last month, down 4.2 percent versus the same time last year. Sales in Sonoma totaled 527, down 10.5 percent. And sales in Marin totaled 323, up 0.9 percent, year-over-year.
With more expensive homes on the market in San Francisco, the median price paid for a home last month was a record $1,400,000 and 5.7 percent above the median sale price at the same time last year.
The median sale price in Alameda County was $825,000 last month, down 1.8 percent on a year-over-year basis; the median sale price in Contra Costa County was $620,000, down 0.8 percent versus the same time last year; and the median sale price in Solano County was $430,000, up 2.4 percent versus April of last year.
The median sale price in Santa Clara County was $1,100,000 last month, down 3.1 percent versus the same time last year, while the median sale price in San Mateo County was $1,360,000, up 3.0 percent, year-over-year.
The median sale price in Marin was $1,075,500 last month, 6.5 percent below its mark at the time last year while the median sale price in Napa ($655,000) was 7.6 percent higher and the median sale price in Sonoma ($580,000) was 4.9 percent lower, year-over-year.
And as such, the median home sale price across the greater Bay Area was $850,000 in April, which was 2.4 percent above its mark in March but unchanged versus the same time last year with a year-over-year trend that has been on the decline since last May.
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, especially as sales volumes drop, as opposed to movements in the Case-Shiller Index.