Industry News

S.F. Bay Area real estate market slips

But annual home-price gains still hit double digits

San Francisco Bay Area home sales sank in July from a year earlier, according to DataQuick Information Systems, a real estate information service, and home prices dropped from June to July. After reaching a new record in Bay Area median home prices in June 2005, at $610,000, the median price slipped to $606,000 in July, DataQuick reported. But home-price increases were still in double digits from July 2004 to July 2005 in all of the Bay Area counties tracked by DataQuick. Home sales were down 10.8 percent from July 2004 to July 2005 for the entire Bay Area, and dropped 21 percent in San Francisco County, 18.3 percent in San Mateo County, 15.4 percent in Marin County and 13.3 percent in Alameda County. Solano County, meanwhile, was the only Bay Area county tracked by DataQuick that had a sales increase in that time – sales there edged up 2.3 percent there from July 2004 to July 2005. Meanwhile, median home prices climbed 17.9 percent in the Bay Area from July 2004 to July 200...