DataMarkets & Economy

Cash sales, median sales price down monthly in Bay Area

Median home price in the Bay Area hits near-record levels, report says
  • Median sale price in the San Francisco metro area was $700,000 through July. The highest month was in June, when median sale price was $710,000.
  • There were a total of 7,901 homes sold in July 2016 in the Bay Area.
  • Over 70 percent of all sales were for properties priced over $500,000.

Total July home sales in the Bay Area came in below July 2015 numbers, according to CoreLogic, but the region still saw some raised figures. Median sale price increased year-over-year, but monthly numbers show the summer blaze beginning to extinguish back to normality, according to CoreLogic. The data firm's July sales report covering Alameda, Contra Costa, Marin, Sonoma, San Francisco, San Mateo, Solano, Santa Clara and Napa counties showed total sales for July in the nine-county data pool reached 7,901, compared to 9,130 in July 2015. Median home prices in the area increased year-over-year to $700,000, but that number is lower than June's record mark of $710,000. "San Francisco Bay Area home sales fell below a year earlier for the fourth consecutive month in July, when sales were the lowest for that month in five years," Andrew LePage, research analyst with CoreLogic, said in a statement. "Since early this year, the general trend across the region's nine counties has ...