Home sales, median prices steady in September
SocketSite reports that the both the number of homes sold in the city and the median price were steady in September, according to DataQuick. Sales volume was down just 1 percent from August and shy just one transaction from the previous September’s total. As SocketSite notes, sales volume usually drops between August and September, averaging 13 percent in San Francisco over the last decade.
In June, the median price for a San Francico property peaked at a record $1 million. Since that time, it’s dropped three months running, hitting $938,000 in September. That is only 0.2 percent from the previous month, and the median is still 14.4 percent higher year-over-year.
Home sales in September were the strongest in five years across the greater Bay Area. While they were down 1.8 percent from August to September, they were 4.2 percent higher than a year earlier. The median price paid for a Bay Area home in September was just over $600,000, down half a percentage point from the previous month but 14 percent higher year-over-year.
Extremes came in Napa County, which saw the greatest drop in sales volume last month at 17.6 percent but with a median price that was 15.9 percent higher than last year at this time. Marin County saw the highest increase in median home price, with a jump of 17.3 percent year-over-year. However, Marin also experienced a 10 percent decrease in sales volume.
Statewide, an estimated 36,316 new and resale homes and condos sold during September. This was a decrease from 37,228 in August and a 0.8 percent increase from a year earlier, which saw 36,027 sales.
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