DQNews Archived Article

Bay Area home sales up

by Real Estate Analyst John Karevoll
January, 1997

La Jolla, CA.— Bay Area home sales ended 1996 the way it began; with moderate increases in sales counts and prices, a real estate information service reported.

A total of 4,695 resale houses were sold in the nine-county Bay Area in December, up 6.1 percent from November's 4,425 and up 10.6 percent from 4,244 for December a year ago, according to DataQuick Information Systems.

An increase from November to December is normal for the season. Sales counts have increased on a year-over-year basis every month but one since August 1995.

"While the year-ago upturn in sales activity and prices was most apparent in the high-end markets of Santa Clara and San Mateo counties, increases have now become increasingly common in the other Bay Area counties and in other home categories," said Mike Ela, DataQuick president.

The median price paid for a Bay Area resale house was $230,000 last month. That was up 0.9 percent from November and up 2.7 percent from $225,000 for December a year ago. On a year-over-year basis, Bay Area home prices increased every month of 1996.

DataQuick monitors real estate purchasing and financing nationwide, and provides information to consumers, lending institutions, title companies and industry analysts.

Sales in other home categories were also up in December. Sales of resale condos and of newly-built homes have also been going up for over a year, DataQuick reported.

Resale houses

	No Sold Nov-95	No Sold Nov-96	Pct. Chng.	Med($K) Nov-95	Med($K) Nov-96	Pct. Chng.
Alameda	788	981	24.5	$199	$205	3.0
Contra Costa	768	788	2.6	$205	$187	-8.8
Marin	201	208	3.5	$350	$315	-10.0
Napa	73	70	-4.1	$160	$175	9.4
San Francisco	257	315	22.6	$247	$274	10.9
San Mateo	454	532	17.2	$276	$295	6.9
Santa Clara	1,060	1,114	5.1	$250	$270	8.0
Solano	292	325	11.3	$140	$138	-1.4
Sonoma	351	362	3.1	$182	$189	3.8
Bay Area	4,244	4,695	10.6	$225	$231	2.7

Source: DataQuick Information Systems

Media Inquiries: John Karevoll (909)867-9534

Copyright © 1997 DataQuick Information Systems.
All rights reserved.

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