The number of single-family homes and condos that traded hands across the greater Bay Area totaled 7,268 in November, down 5.0 percent from an upwardly revised 7,653 in October and 2.7 percent lower versus the same time last year.

And in San Francisco, the recorded sales volume last month (555) was 2.6 percent lower on a year-over-year basis but only 1.9 percent lower versus an upwardly revised 566 transaction in October, according to recorded sales data from CoreLogic as charted above.

In Alameda County, recorded homes sales were down 9.4 percent from October (1,715) to November (1,553) but only 1.3 percent lower versus the same time last year while sales in Contra Costa County dropped 9.2 percent to 1,408, which is 6.0 percent lower on a year-over-year basis, and sales in Solano County dropped 12.5 percent to 552 in November and were down 11.7 percent versus the same time last year.

Home sales in Santa Clara County dropped 6.5 percent from October (1,659) to November (1,551) and were 6.5 percent lower versus the same time last year while recorded sales in San Mateo County slipped 6.1 percent from October (653) to November (613) but were 4.1 percent higher versus November 2016.

And having taken a fire related hit in October, home sales in Napa jumped 19.8 percent from 101 in October to 121 in November but were still 4.7 percent lower on a year-over-year basis, sales in Sonoma County jumped 18.3 percent to 595 in November and were 6.8 percent higher versus the same time last year, and sales in Marin jumped 16.4 percent from 275 in October to 320 in November and were 18.1 percent higher versus the same time last year.

The median price paid for those aforementioned 566 homes in San Francisco was $1,297,000, up 3.8 percent from the month before, 12.9 percent higher versus the same time last year and within spitting distanced of the record $1.3 million median price recorded in April of 2016.

The median sale price in Alameda County was $780,000 in November, up 0.6 percent from October and 11.3 percent higher versus the same time last year; the median sale price in Contra Costa County was $563,750 (10.6 percent higher versus the same time last year); and the median sale price in Solano County was $405,000, unchanged from October but 12.0 percent higher, year-over-year.

The median sale price in Santa Clara County was $980,550 in November, up 0.8 percent from October and 18.4 percent higher versus the same time last year while the median sale price in San Mateo County was $1,275,000 in November, up 4.3 percent from October and 25.0 percent higher, year-over-year.

The median sale price in Marin was $952,250 in November, down 2.3 percent from October but 15.5 percent higher versus the same time last year while the median in Napa was $650,000, up 10.2 percent from October and 17.1 percent higher versus the same time last year, and the median in Sonoma was $619,250 in November, up 4.1 percent from October and 9.2 percent higher, year-over-year basis.

Across the greater Bay Area, the median home sale price ticked up 1.5 percent to $787,000 in November which is 12.6 percent higher versus the same time last year.

Keep in mind that while movements in the median sale price are a great measure of what’s selling, they’re not necessarily a great measure of appreciation or changes in value and are susceptible to changes in mix, as opposed to movements in the Case-Shiller Index.

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Comments from “Plugged-In” Readers

  1. Posted by NA

    The price jumps on the peninsula & south bay are out of hand YoY! Would be interesting to see a chart over the last several years. Prices cannot sustain this too much longer, or can they?

  2. Posted by anon

    Low supply, continuing high demand = record high prices. Same story with the case shiller numbers.

    Rumors of the SF housing price decline have been greatly exaggerated.

  3. Posted by Jussayin

    Uber just closed its equity sale to SoftBank so there will be a few billion extra dollars sloshing around this spring. Hard to see a slowdown on the horizon.

    • Posted by intheknow

      Rumor is the sale cut their valuation by one third. And they got less than 1Q of cash from SoftBank at their current burn. Huge haircut for three months of rope.

      • Posted by curmudgeon

        But it still apparently allowed many employees to cash out, which is the “sloshing” that Jussayin is referencing. Hardly matters that their ridiculous valuation changed if there’s more loose money in the economy chasing real estate. Didn’t this whole run up go into overdrive around the time facebook went public?

  4. Posted by dB

    “Hard to see a slowdown on the horizon.”

    That phrase makes me nervous.

  5. Posted by elmerJFuddMillionaire

    The gap difference between prices and volume will normalize at some point(revert to long term correlation). Either volume will have to go up with leveled off prices or prices will have to collapse which will spur more sales.

    This isn’t a sustainable chart trend given historicals. Pick your poison -> hyperinflation to validate current price levels or a recession to liquidate and find true market value.

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