Bay Area Home Sales Continue To Rise

Bay Area Home Sales Continue To Rise

Bay Area Home Sales Continue To Rise

Bay Area Home Sales Hit The 8,000 Mark

In a continuing trend, Bay Area home sales continue to rise. Bay Area homebuyers seeing that interest rates remain at near record level lows here in the Bay Area have jumped on the fence and look to take advantage. The sales numbers, supplied by DataQuick, display a steady increase in the mid to high-end homes.

With nearly 8,000 homes sold in the Bay Area region in October, the numbers clearly show improvement in the real estate market and point away from the downturn in the past few years.

DataQuick reported that homes sales shot up 21 percent from a year ago and have increased over the past year for 16 months in a row.

Taking a look at the individual counties, we see that sales of existing single-family homes rose 14 percent from a year ago in Alameda County, 9.5 percent in Contra Costa County, 24 percent in Santa Clara County and 20 percent in San Mateo County.

Besides the overall sales, the home prices a median sales price of a single family in the nine-county Bay Area hit the $440,000 mark, rising about 16 percent from a year ago.

Bay Area Median Prices Up Too

For the median prices, Alameda County hit $420,750 which climbed 12 percent from last year; Contra Costa’s median of $300,000 rose 15 percent from last October; Santa Clara County’s median of $619,750 jumped almost 20 percent above a year ago, and San Mateo County’s median $680,750 shot up nearly 16 percent from last year.

The picture looks different for lower priced homes as sales continued to fall below last years levels mostly due to a lack of inventory and the continued up tick in short sales. The lower level markets have less foreclosures which means less inventory.

With the holidays on the way, many people will be wishing for more real estate inventory.

Chart courtesy Bay Area News Group and DataQuick

Bay Area Home Sales Continue To Rise

Bay Area Home Sales Continue To Rise

Bay Area Home Sales Continue To Rise

Bay Area Home Sales Continue To Rise

Bay Area Home Sales Continue To Rise

Bay Area Home Sales Continue To Rise

Bay Area Home Sales Continue To Rise

Bay Area Home Sales Continue To Rise

Bay Area Home Sales Continue To Rise

Bay Area Home Sales Continue To Rise

Bay Area Home Sales Continue To Rise

Bay Area Home Sales Continue To Rise

Bay Area Home Sales Continue To Rise

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Filed under California, San Francisco, San Jose, San Mateo county, short sales

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