Spanning December to January there was a 38.3 percent drop in new and existing single-family home and condo sales within the San Francisco Bay Area. However, CoreLogic cautions not to read too much into this. According to its data, a total of 4,845 homes sold last month in the nine counties that comprise the Bay Area - Alameda, Contra Costa, Marin, Napa, Santa Clara, San Francisco, San Mateo, Solano and Sonoma. This sales total compared to 7,849 sales in December 2015. A noticeable drop in sales between December and January is normal for the region, as activity historically dips by an average of 28.6 percent. "January and February tend to be relatively weak months for closings and, as such, they're not especially predictive of what's to come for the rest of the year," said Andrew LePage, research analyst with CoreLogic. In each Bay Area county month-to-month home sales activity was down anywhere from 29 percent to 42 percent last month. These declines in sales can be...
- Last month was the strongest January for sales activity in three years.
- January and February home sales figures aren't predictive of what's to come in the Bay Area.
- Santa Clara, Alameda and Contra Costa counties contributed the most January sales.