patrick.net

Latest March results. Dqnews will in a few days release local zip code sales and price detail.. we are getting there slowly but surely. Funny how uber rich Marin tanked double digit. Good Reading!

http://www.dqnews.com/Articles/2012/News/California/Bay-Area/RRBay120418.aspx

April 18, 2012

La Jolla, CA.--March home sales in the Bay Area were at their highest level for that month in five years, the result of lower prices, low interest rates and an improving economy. Prices appeared to be leveling off across more of the region and may be poised to start inching back up in the stronger submarkets, a real estate information service reported.

Last month 7,694 new and resale houses and condos sold in the nine-county Bay Area, up 34.9 percent from 5,702 in February, and up 9.1 percent from 7,051 in March 2011, according to San Diego-based DataQuick.

The February to March sales jump is normal for the season. Last month’s sales count was the highest for the month of March since 8,317 homes were sold in 2007. Since 1988, March sales have ranged from 4,898 in 2008 to 12,645 in 2004. The average is 8,812.

“This is the time of year when buying patterns usually start to normalize. And while the changes we’re seeing are incremental, they’re incremental in a positive direction. That said, there’s a long way to go. Two of the big issues to watch closely are how fast distressed properties are being put on the market, and the availability of, or lack of availability of, mortgage financing,” said John Walsh, DataQuick president.

The median price paid for all new and resale houses and condos sold in the Bay Area last month was $358,000. That was up 10.2 percent from $325,000 in February, and down 0.6 percent from $360,000 in March 2011. The median has declined on a year over year basis every month since October 2010, although last month’s decline was the smallest

#housing