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NOV and DEC 2011 DQNews.com Bay Area House Prices Low, Sales Up

By thomas.wong1986   Follow   Mon, 16 Jan 2012, 2:53pm   1,614 views   7 comments
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Sharp price declines occur in SF and San Mateo...

http://www.dqnews.com/Articles/2011/News/California/Bay-Area/RRBay111214.aspx

Bay Area Home Prices Low, Sales Creep Up

December 14, 2011

La Jolla, CA.----Bay Area home sales were ahead of 2010 for the fifth month in a row in November, despite limited mortgage availability and sluggish high-end sales. The median sale price fell again on a year-over-year basis, partly because of the slowdown in sales above the mid point for prices, a real estate information service reported.

A total of 6,317 new and resale houses and condos sold in the nine-county Bay Area last month. That was down 2.0 percent from 6,444 in October, and up 3.4 percent from 6,111 in November 2010, according to San Diego-based DataQuick.

The median price paid for all new and resale houses and condos sold in the Bay Area last month was $363,500. That was up 3.9 percent from $350,000 in October, and down 4.3 percent from $380,000 in November 2010. The median has declined on a year-over-year basis for the last 14 months.

The low point of the current real estate cycle was $290,000 in March 2009. The peak was $665,000 in June/July 2007. Around half of the median’s peak-to-trough drop was the result of a decline in home values, while the other half reflected a shift in the sales mix.

Last month distressed property sales – the combination of foreclosure resales and “short sales” – made up 47.8 percent of the resale market. That was up from 45.2 percent in October and 46.7 percent a year ago.

Alameda……...340000…-6.5%
Contra Costa...255000…-1.9%
Marin………....629000…-3.2%
Napa…………..297000…-1.2%
Santa Clara…...452000…-1.5%
San Francisco...644500…-5.2%
San Mateo….....542500…-9.6%
Solano…………..190000…-8.2%
Sonoma………....285000…-9.5%
Bay Area………...363500…-4.3%

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1. thomas.wong1986 Follow Befriend 16 threads 4,426 comments

   1   3:06pm Mon 16 Jan 2012   Share   Quote   Permalink   Like   Dislike (1)   Bay Area Home Prices Low.. In a historical context... prices shouldnt be called "low" should be called crawling back to "normal". It will be some time before even DQ and many others in the media see the light.

2. toothfairy Follow Befriend 40 threads 856 comments Oakland, CA

   2   6:53am Thu 19 Jan 2012   Share   Quote   Permalink   Like   Dislike (1)   Your link is to last months data

3. thomas.wong1986 Follow Befriend 16 threads 4,426 comments

   3   1:35am Fri 20 Jan 2012   Share   Quote   Permalink   Like   Dislike   Bay Area Sales Up, Prices Down http://dqnews.com/Articles/2012/News/California/Bay-Area/RRBay120118.aspx January 18, 2012 La Jolla, CA.----The Bay Area’s housing market rounded out 2011 much the way it started it: with constricted and atypical sales activity, lots of bottom feeding, and a largely dormant mid- to move-up market. Sales were up slightly last month, while prices dropped, a real estate information service reported. A total of 7,494 new and resale houses and condos sold in the nine-county Bay Area in December. That was up 18.6 percent from 6,317 in November, and up 4.4 percent from 7,178 in December 2010. The year-over-year increase was the sixth in a row, according to San Diego-based DataQuick. The November-to-December increase was normal for the season, although the rise was higher than the 9.9 percent historic norm. While last month’s sales were 13.3 percent below the December average of 8,643, that below-the-norm rate was the lowest of 2011. Since 1988 December sales have varied from 5,065 in 2007 to 12,349 in 2003. All homes …Dec 2011...%Chng Alameda ...328,000...-5.5 Contra Costa ...259,000...-2.3 Marin ..............517,818...-13.6 Napa ...............317,500…+2.4 Santa Clara ......440,000...-4.3 San Francisco ...594,500...-3.6 San Mateo ........500,000...-10.7 Solano ...............182,250...-8.0 Sonoma ...............279,500...-9.8 Bay Area ..............351,500...-6.3

4. LarryPatrickMaloney Follow Befriend (13) 57 threads 166 comments Mountain View, CA LarryPatrickMaloney's website

   4   3:14am Fri 20 Jan 2012   Share   Quote   Permalink   Like   Dislike   If you read through the whole article, the really exciting number is: $215,000 $215,000 is the AVERAGE CASH sale price paid for houses in the 9 county bay area. Real cash prices are dropping, and at this rate, we could see something approaching normal later this year.

5. dodgerfanjohn Follow Befriend 19 threads 590 comments Los Angeles, CA

   5   1:13pm Fri 20 Jan 2012   Share   Quote   Permalink   Like (1)   Dislike   When do we get realtor mass suicide?

6. bmwman91 Follow Befriend (7) 37 threads 1,539 comments Mountain View, CA bmwman91's website Premium

   6   3:36pm Fri 20 Jan 2012   Share   Quote   Permalink   Like   Dislike   Protected   Damn you, San Jose & San Francisco! Get with the program already!

7. thomas.wong1986 Follow Befriend 16 threads 4,426 comments

   7   9:28pm Fri 20 Jan 2012   Share   Quote   Permalink   Like   Dislike (1)   LarryPatrickMaloney says If you read through the whole article, the really exciting number is: $215,000 $215,000 is the AVERAGE CASH sale price paid for houses in the 9 county bay area. Real cash prices are dropping, and at this rate, we could see something approaching normal later this year. From DQnews. The all-cash deals were transactions where there was no indication in the public record of a purchase mortgage recorded at the time of sale. Some of these "cash" buyers could have used alternative financing arrangements outside of a typical, recorded purchase mortgage. Also, in some cases cash buyers might be taking out mortgages after their purchases.