DQNews Archived Article

Bay Area home sales

by Real Estate Analyst John Karevoll
July, 1997

La Jolla, CA.— June's Bay Area home sales and prices held firm at the high level reached in April and May, a real estate information service reported.

A total of 5,924 resale houses were sold in the nine county Bay Area in June. That was down 3.6 percent from 6,145 for May and up 8.1 percent from June a year ago, according to DataQuick Information Systems.

The year-over-year increase was the ninth in a row. The May-to- June decline is normal for the season, last May's sales count was the second-highest of the 1990s.

"We're expecting sales counts to level off at the current fast pace. There was a price surge last spring that has held steady and there's pressure on the market at the upper end," said Mike Ela, DataQuick president.

The median price for a resale house in the Bay Area jumped from $239,000 in March to $260,000 in April, an uncommonly steep month-to- month jump. The median held firm at $258,000 for May and was $257,000 in June, up 4.0 percent from $247,000 for June last year.

The year-to-date median was up 6.0 percent from $234,000 to $248,000, while the sales count was up 7.6 percent from 28,138 to 30,275. The current sales pace is the strongest of the decade.

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

Resale houses

	No Sold	No Sold	Pct.	Med($K)	Med($K)	Pct.
	Jun-96	Jun-97	Chng	Jun-96	Jun-97	Chng.
Alameda	1,017	1,205	18.5	$214	$219	2.3
Contra Costa	979	1,087	11	$227	$224	-1.3
Marin	277	312	12.6	$350	$357	2.0
Napa	84	98	16.7	$165	$170	3.0
San Francisco	324	350	8	$285	$297	4.2
San Mateo	637	658	3.3	$310	$339	9.4
Santa Clara	1,412	1,388	-1.7	$271	$299	10.3
Solano	347	349	0.6	$144	$141	-2.1
Sonoma	403	477	18.4	$198	$196	-1.0
Bay Area	5,480	5,924	8.1	$247	$257	4.0

Source: DataQuick Information Systems

Media Inquiries: John Karevoll (909)867-9534

Copyright © 1997 DataQuick Information Systems.
All rights reserved.

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