July 19, 2006
San Francisco Median Sales Price Rebounds Slightly
According to DataQuick, the median sales price for existing homes in San Francisco was $778,000 last month, up 2.4% from $760,000 in June ’05 (matching the high-water mark of October ’05/April ’06). Sales volume continued to trend down year-over-year (652 sales versus 723 in June ‘05), but showed signs of a slight seasonal up-tick as volume increased 4.2% as compared to June '06 (626 sales).
For the greater Bay Area, the recorded median sales price in June was $644,000 (up 5.6% year-over-year) and sales volume was 9,892 (down 24.0% from June ’05 but up 9.1% from April ’06). Marin, Napa, and Sonoma continued to record negative year-over-year sales volume growth but all recorded positive year-over-year price appreciation.
From DataQuick president Marshall Prentice, "The Bay Area's market is reaching the end of a real estate cycle, it looks like prices could flatten out sometime this fall. What happens after that is anyone's guess."
∙ Bay Area home sales continue to drop, prices reach new peak [DQNews]
∙ San Francisco Year-Over-Year Appreciation Flat [SocketSite]
First Published: July 19, 2006 1:55 PM
Comments from "Plugged In" Readers
Another month, another new record high for the Bay Area! Now that the 10-yr yield is falling, hence mortgage rates, I'm anxiously trying to buy as many prime location properties as possible before another lift off after bonuses are paid this year!
Posted by: Ohyeaaah at July 19, 2006 7:34 PM
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