Industry News

San Francisco area real estate prices remain red-hot

January home values up nearly 21% from a year ago

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San Francisco Bay Area home prices jumped 20.5 percent from January 2004 to January 2005, marking the largest annual gain in four years, according to DataQuick, a real estate information service. The median price paid for a Bay Area home last month was $534,000, a new record. That was up 0.2 percent from $533,000 in December, and up 20.5 percent from $443,000 for January a year ago, DataQuick reported. The last time annual price increases were more than 20 percent was in January 2001 when the $375,000 median was up 20.2 percent from $312,000 a year earlier. A total of 7,509 new and resale houses and condos were sold in the nine-county Bay Area region in January. That was down 32.2 percent from 11,068 in December, and up 5.7 percent from 7,102 for January last year, according to DataQuick Information Systems. Sales typically decline from December to January. Last month's sales count was the strongest for any January since 7,646 in 1989. "As far as identifying trends, January and ...