February 2008 Monthly Analysis
> Home Sales
HOME SALES
According to DataQuick Information Systems, Bay Area home sales plunged below 4,000 in January - a first in over 20 years. The credit crunch and continued uncertainty among buyers, sellers and lenders, caused price declines to steepen, especially in inland markets hit hard by foreclosures.
A total of 3,586 new and resale houses and condos sold in the Bay Area in January. That was down 29.2 percent from 5,065 in December, and down 41.9 percent from 6,168 in January 2007.
Sales in the Bay Area have decreased on a year-over-year basis for 36 consecutive months. Prior to last month, the slowest January was in 1995, when 4,326 homes sold. The strongest January, in 2005, posted 8,298 sales. The average for the month is 6,319 sales.
In the East Bay, both Alameda and Contra Costa Counties continued to post sharp losses in the numbers of homes sold, while median prices continued to decline on a year-over-year basis.
|
All Homes by County
|
Number Sold
January 2008
|
Sales Annual Pct.
Chg
|
Median
January 2008
|
Median
Annual
Pct.
Chg
|
|
Alameda
|
780
|
-39.00%
|
$487,750
|
-14.40%
|
Contra Costa |
667
|
-42.40%
|
$463,000
|
-15.80%
|
|
Marin
|
122
|
-37.40%
|
$845,000
|
1.80%
|
|
Napa
|
44
|
-55.10%
|
$532,500
|
-1.80%
|
|
Santa
Clara
|
869
|
-45.90%
|
$639,000
|
-3.20%
|
|
San
Francisco
|
293
|
-27.10%
|
$744,000
|
-0.80%
|
|
San
Mateo
|
295
|
-40.90%
|
$675,000
|
-8.20%
|
|
Solano
|
247
|
-47.20%
|
$347,500
|
-19.20%
|
|
Sonoma
|
269
|
-41.90%
|
$425,000
|
-16.70%
|
|
Bay
Area
|
3,586
|
-41.90%
|
$550,000
|
-8.50%
|
|
Source: Data Quick Information Systems
|
EAST BAY HOME SALES
In January 2008 the median home sale price in Alameda County was $500,000 – a 13.04 percent ($75,000) decrease compared with January 2007. In Contra Costa County the median home sale price was $464,000 in January 2008 - a 15.64 percent ($86,000) decrease compared to January 2007. A majority of cities in both counties saw year-over-year declines in median home values.
|
County/City/Area
|
# Sold Jan 2008
|
January 2008
|
January 2007
|
Annual % Chg.
|
|
Alameda
County
|
494
|
$500,000
|
$575,000
|
-13.04%
|
|
ALAMEDA
|
21
|
$570,000
|
$620,000
|
-8.06%
|
|
ALBANY
|
3
|
$537,000
|
$289,500
|
85.49%
|
|
BERKELEY
|
17
|
$500,000
|
$643,500
|
-22.30%
|
|
CASTRO
VALLEY
|
20
|
$562,500
|
$610,000
|
-7.79%
|
|
DUBLIN
|
37
|
$483,000
|
$597,500
|
-19.16%
|
|
EMERYVILLE
|
8
|
$322,500
|
$450,500
|
-28.41%
|
|
FREMONT
|
96
|
$610,000
|
$615,500
|
-0.89%
|
|
HAYWARD
|
35
|
$450,000
|
$566,500
|
-20.56%
|
|
LIVERMORE
|
33
|
$473,000
|
$615,000
|
-23.09%
|
|
NEWARK
|
14
|
$400,000
|
$619,000
|
-35.38%
|
|
OAKLAND
|
106
|
$407,000
|
$495,000
|
-17.78%
|
|
PLEASANTON
|
26
|
$665,000
|
$714,500
|
-6.93%
|
|
SAN
LEANDRO
|
35
|
$421,000
|
$550,000
|
-23.45%
|
|
SAN
LORENZO
|
11
|
$404,000
|
$527,000
|
-23.34%
|
|
UNION
CITY
|
32
|
$469,000
|
$615,000
|
-23.74%
|
|
Contra
Costa County
|
562
|
$464,000
|
$550,000
|
-15.64%
|
|
ALAMO
|
6
|
$1,187,500
|
$1,350,000
|
-12.04%
|
|
ANTIOCH
|
59
|
$352,000
|
$465,000
|
-24.30%
|
|
BRENTWOOD
|
32
|
$469,000
|
$630,000
|
-25.56%
|
|
CLAYTON
|
9
|
$575,000
|
$700,000
|
-17.86%
|
|
CONCORD
|
73
|
$392,000
|
$510,000
|
-23.14%
|
|
DANVILLE
|
36
|
$1,037,000
|
$970,000
|
6.91%
|
|
EL
CERRITO
|
11
|
$639,000
|
$600,000
|
6.50%
|
|
EL
SOBRANTE
|
19
|
$439,000
|
$580,000
|
-24.31%
|
|
HERCULES
|
10
|
$459,000
|
$589,000
|
-22.07%
|
|
LAFAYETTE
|
8
|
$1,130,000
|
$980,000
|
15.31%
|
|
MARTINEZ
|
14
|
$415,000
|
$540,500
|
-23.22%
|
|
MORAGA
|
7
|
$730,000
|
$975,000
|
-25.13%
|
|
OAKLEY
|
32
|
$414,500
|
$500,000
|
-17.10%
|
|
ORINDA
|
10
|
$970,000
|
$1,280,000
|
-24.22%
|
|
PINOLE
|
10
|
$377,500
|
$500,000
|
-24.50%
|
|
PITTSBURG
|
35
|
$329,000
|
$439,000
|
-25.06%
|
|
PLEASANT
HILL
|
13
|
$510,000
|
$577,500
|
-11.69%
|
|
RICHMOND
|
37
|
$336,500
|
$422,500
|
-20.36%
|
|
RODEO
|
2
|
$391,000
|
$424,000
|
-7.78%
|
|
SAN
PABLO
|
16
|
$345,000
|
$450,000
|
-23.33%
|
|
SAN
RAMON
|
74
|
$753,500
|
$760,000
|
-0.86%
|
|
WALNUT
CREEK
|
46
|
$589,500
|
$585,000
|
0.77%
|
|
Source:
DataQuick
|
|
