Bay Area Home Sales Down, Prices Flat

October 22, 2001

La Jolla, CA--Home sales in the Bay Area continued to drop in September as prices remained flat.

A total of 7,201 new and resale houses and condos were sold in the nine-county region last month. That was down 21.7 percent from 9,202 for August, and down 25.6 percent from 9,681 for September last year, according to DataQuick Information Systems.

A decline from August to September is normal for the season. So far this year 69,404 Bay Area homes have been sold, down 17.0 percent from 83,634 for the same nine-month period last year.

"If there is any change in purchase patterns after September 11, we'll find out more about it with next month's numbers. Most of last month's closed sales were already in escrow September 11. Backing out of a signed purchase agreement is a lot harder than deciding not to buy in the first place," said Mike Ela, DataQuick president.

The median price paid for a Bay Area home was $373,000 last month. That was down 0.5 percent from $375,000 in August, and up 5.4 percent from $354,000 for September a year ago. The median peaked at $383,000 in July.

DataQuick, a subsidiary of Vancouver-based MacDonald Dettwiler and Associates, monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts.

The median price paid for a home statewide was $237,000 in September, up 0.9 percent from $235,000 in August, and up 11.3 percent from $213,000 for September a year ago, DataQuick reported.

All Homes

All Homes	No Sold Sep-00	No Sold Sep-01	Pct. Change	Median Sep-00	Median Sep-01	Pct. Change
Alameda	2,062	1,478	-28.3%	$336K	$356K	6.0%
Contra Costa	1,998	1,588	-20.5%	$263K	$311K	18.3%
Marin	357	251	-29.7%	$501K	$526K	5.0%
Napa	135	154	14.1%	$278K	$327K	17.6%
San Francisco	474	353	-25.5%	$477K	$499K	4.6%
San Mateo	796	554	-30.4%	$481K	$494K	2.7%
Santa Clara	2,250	1,613	-28.3%	$435K	$439K	0.9%
Solano	778	613	-21.2%	$206K	$243K	18.0%
Sonoma	831	597	-28.2%	$303K	$304K	0.3%
Bay Area	9,681	7,201	-25.6%	$354K	$373K	5.4%

Source: DataQuick Information Systems

Media Inquiries: John Karevoll (909)867-9534

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