Markets & Economy

Bay Area home sales increasing monthly, but falling annually

Bay Area sees more people moving inland to steer clear rising seas, err, prices
  • Bay Area home sales in March decreased 2.9 year over year.
  • Home sales totaled 6,754 in Alameda, Contra Costa, Marin, Napa, Santa Clara, San Francisco, San Mateo, Solano and Sonoma counties.
  • Home sales of $500,000 and higher totaled 65.7 percent in March of 2016.

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The number of homes sold in March 2016 in Alameda, Contra Costa, Marin, Napa, Santa Clara, San Francisco, San Mateo, Solano and Sonoma counties totaled 6,754. Data from CoreLogic reveals this to be a 37 percent increase from February, but a 2.9 decrease year-over-year. "Last month the housing market experienced a normal, seasonal spike from February in the number of recorded transactions, which reflects more buyers and sellers entering the market as the holidays and winter faded," said Andrew LePage, research analyst with CoreLogic. This past March saw the second lowest total sales since 2009, placing second after March 2014. The highest month CoreLogic has tallied since gathering data in 1988 is 12,645, which occurred in March 2004. The lowest month saw only 4,898 sales in 2008. The average number of homes sold in March for these regions is 8,593. The median price for homes sold was $643,250. This number presents a 4.6 percent increase from February and a 1.4 percent i...