Home sales in the San Francisco Bay Area had their best November ever last month, as prices reached a new peak, a real estate information service reported.

A total of 10,987 new and resale houses and condos were sold in the nine-county region in November, down 2.5 percent from 11,180 in October, and up 13.6 percent from 9,594 for November last year, according to DataQuick Information Systems.

At 123,770, sales for the first 11 months of this year have already passed sales for the whole of 2003, making 2004 a record year even before December sales are included.

“The strength of the market certainly has a lot of last year’s forecasters scratching their heads. Even with demand being stronger than expected, these numbers are remarkable. It’s interesting too that the appreciation rate has remained stable the past half year,” said Marshall Prentice, DataQuick president.

The median price paid for a Bay Area home was $533,000 last month, another record. That was up 1.7 percent from $524,000 in October, and up 17.1 percent from $455,000 for November a year ago. Year-over-year price increases have been in the 15 percent-18 percent range since April.

DataQuick, a subsidiary of Vancouver-based MacDonald Dettwiler and Associates, monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts.


What’s your opinion? Send your Letter to the Editor to opinion@inman.com.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription