Recorded home sales volume in San Francisco was up 2.9% on a year-over-year basis last month (422 recorded sales in November 2011 versus 410 sales in November 2010), down 5.8% as compared to the month prior and versus an average October to November volume drop of 7.2% over the past seven years. An average of 520 San Francisco homes have sold in November since 2004 when recorded sales volume hit at 682.
San Francisco’s median sales price in November was $644,500, down 5.2% on a year-over-year basis, up 1.5% as compared to October in which the median was down 2.6% YoY.
For the greater Bay Area, recorded sales volume in November was up 3.4% on a year-over-year basis, down 2.0% from the month prior (6,317 recorded sales in November ’11 versus 6,111 in November ’10 and 6,444 in October ’11) as the recorded median sales price was down 4.3% year-over-year, up 3.9% month-over-month.
At the extremes, Sonoma County recorded a 16.9% increase in sales volume (a gain of 70 transactions) on an 9.5% decline in median sales price, while Solano County recorded a 5.3% decrease in sales (a loss of 29 transactions) on an 8.2% decline in median price. The best performing Bay Area county in terms of median sales price was Napa which recorded a 1.2% decline while San Mateo recorded a 9.6% drop.
As always, keep in mind that DataQuick reports recorded sales which not only includes activity in new developments, but contracts that were signed (“sold”) many months or even years prior and are just now closing escrow (or being recorded).
∙ Bay Area Home Prices Low, Sales Creep Up [DQNews]
∙ Recorded San Francisco Sales Activity Up 2.8% In October [SocketSite]