May 2008 Monthly Analysis
> Housing
BAY AREA HOUSING
According to DataQuick Information Systems, Bay Area home sales edged up from a seven-month run of record lows last
month, indicating that mortgage availability is improving and that an increasing number of fence sitters have decided
they like today's lower prices.
|
All Homes by County
|
Number Sold
April 2008
|
Sales Annual Pct.
Chg
|
Median
April
2008
|
Median Annual
Pct.
Chg
|
|
Alameda
|
1,240
|
-20.30%
|
$473,750
|
-19.20%
|
|
Contra Costa
|
1,265
|
1.50%
|
$395,000
|
-34.20%
|
|
Marin
|
216
|
-31.00%
|
$800,000
|
-13.50%
|
|
Napa
|
100
|
-8.30%
|
$499,000
|
-11.40%
|
|
Santa
Clara
|
1,440
|
-28.30%
|
$615,000
|
-13.30%
|
|
San Francisco
|
605
|
6.50%
|
$750,000
|
-5.10%
|
|
San Mateo
|
573
|
-15.90%
|
$672,500
|
-17.00%
|
|
Solano
|
429
|
-2.50%
|
$319,500
|
-25.40%
|
|
Sonoma
|
442
|
-16.00%
|
$414,250
|
-20.20%
|
|
Bay Area
|
6,310
|
-15.30%
|
$518,000
|
-21.40%
|
|
Source: Data Quick Information Systems
|
A total of 6,310 new and resale houses and condos sold in the nine-county Bay Area in April. That was up 28.8 percent
from 4,898 in March, and down 15.3 percent from 7,447 for April 2007, DataQuick Information Systems reported.
Alameda County saw 1,240 homes sell in April 2008, a 20.30 percent decrease from April 2007. The number of homes sold
in Contra Costa was up 1.50 percent from April 2007 – and along with San Francisco County, was the only Bay Area region
to see an annual increase in home sale activity.
In terms of median values, all Bay Area counties continue to see year-over-year decreases. The median price paid for a
Bay Area home was $518,000 last month, down 3.4 percent from $536,000 in March, and down 21.4 percent from $659,000 in
April last year. Last month's median was 22.1 percent lower than the peak median of $665,000 reached in June and July
last year.
Though high, Alameda County’s year-over-year home value decrease of 19.20 percent is within the average range for Bay
Area counties, as all have seen dramatic decreases over the past 12 months. Contra Costa County’s year-over-year price
decrease was the highest in the Bay Area, with values dropping 34.20 percent compared to last April. Contra Costa
County’s new median value of $395,000 is the lowest for that County since January 2004 (according to DataQuick
releases).
|
City
|
# Sold April 2008
|
Y-o-Y
% Change
|
Median April 2008
|
Y-o-Y
% Change
|
|
Alameda City
|
56
|
-15.70%
|
$594,500
|
-3.3%
|
|
Albany
|
10
|
-50.00%
|
$442,000
|
-26.00%
|
|
Berkeley
|
62
|
48.13%
|
$781,857
|
13.1%
|
|
Castro Valley
|
52
|
-6.70%
|
$653,250
|
-7.35%
|
|
Dublin
|
78
|
30.00%
|
$441,500
|
-26.00%
|
|
Emeryville
|
26
|
-50.00%
|
$300,000
|
-33.30%
|
|
Fremont
|
166
|
-34.23%
|
$360,750
|
-9.30%
|
|
Hayward
|
105
|
11.78%
|
$395,563
|
-24.90%
|
|
Livermore
|
74
|
-40.30%
|
$601,000
|
-0.50%
|
|
Newark
|
41
|
13.90%
|
$435,000
|
-16.30%
|
|
Oakland
|
170
|
-37.60%
|
$413,607
|
-22.46%
|
|
Piedmont
|
29
|
-31.00%
|
$750,000
|
-14.40%
|
|
Pleasanton
|
55
|
-42.30%
|
$680,000
|
-17.15%
|
|
San Leandro
|
74
|
14.23
|
$383,333
|
-28.57%
|
|
San Lorenzo
|
18
|
-25.00%
|
$331,000
|
-37.00%
|
|
Union City
|
35
|
-52.10%
|
$459,000
|
-21.50%
|
|
Alamo
|
21
|
10.50%
|
$1,212,500
|
-25.30%
|
|
Antioch
|
162
|
90.45%
|
$284,750
|
-40.55%
|
|
Brentwood
|
125
|
83.80%
|
$399,000
|
-33.50%
|
|
Concord
|
113
|
-8.70%
|
$330,750
|
-35.88%
|
|
Danville
|
72
|
-33.30%
|
$831,250
|
-3.4%
|
|
El Cerrito
|
16
|
-36.00%
|
$599,000
|
-1.60%
|
|
El Sobrante
|
25
|
13.60%
|
$397,000
|
-17.30%
|
|
Hercules
|
31
|
10.70%
|
$450,000
|
-29.10%
|
|
Lafayette
|
20
|
-37.50%
|
$1,212,500
|
1.30%
|
|
Martinez
|
31
|
-35.40%
|
$375,000
|
-29.50%
|
|
Moraga
|
21
|
0.00%
|
$960,000
|
3.50%
|
|
Oakley
|
67
|
21.80%
|
$328,750
|
-35.80%
|
|
Orinda
|
16
|
-11.10%
|
$1,322,500
|
3.50%
|
|
Pinole
|
13
|
62.50%
|
$357,500
|
-36.40%
|
|
Pittsburg
|
90
|
20.00%
|
|
