Although sellers may not feel as warm, the Bay Area market normalizing to more realistic appreciation rates is considered positive news for housing health, according to Pacific Union's July report on Bay Area real estate. Consistent with trends reported in Pacific Union's quarterly Bay Area market update, major regions of the Bay Area (Silicon Valley, San Francisco, East Bay) saw single-digit bursts in annual home price appreciation in July -- with the exception of Marin County, where median price grew by double digits year-over-year (12 percent). San Francisco single-family homes and condos and East Bay homes realized premiums above asking price last month, according to Pacific Union. Out of these four markets, the East Bay saw the lowest average market time. San Francisco Despite the City by the Bay easing the tension for buyers, San Francisco remains far from affordable. The median single-family home price hit $1.37 million in July, while the median condominiu...
- The median single-family home price in San Francisco hit $1.37 million in July, while the median condominium price dipped to $1.08 million.
- Median sales price in Marin County grew 12 percent year-over-year.
- Silicon Valley remained the most expensive region, with a median sales price of $2.8 million.