Industry News

S.F. Bay Area real estate outshines SoCal

Buyers paid $100,000 more for median-priced home than their sunny southern counterparts in January

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Despite an average 33.7 percent decline in metropolitan area home sales across California in January, San Francisco Bay Area home sales reached their highest level for that month in 15 years, according to DataQuick Information Systems. A total of 7,102 new and resale houses and condos were sold in the nine-county Bay Area region last month. That was down 37.3 percent from 11,354 in December and up 2.3 percent from 6,944 for January a year ago, according to DataQuick. A decrease from December to January is normal for the season. Last month's sales count was the highest for any January since 7,646 Bay Area homes were sold in 1989. "The indications are that sales will stay strong at least through spring and on into summer. There are still more people who want to buy than there are homes for sale," said Marshall Prentice, DataQuick president. The median price paid for a Bay Area home was $443,000 last month. That was down 3.3 percent from December's $458,000 and up 9.7 percent from $...