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August 2008 Monthly Analysis
> Housing
BAY AREA HOUSING
According to DataQuick
Information Systems, Bay Area home sales
picked up in counties impacted most by
foreclosures in July, while prices continued
to slide downward.
|
All Homes by County
|
Number Sold July 2008
|
Sales Annual Pct. Change
|
Median July 2008
|
Median Annual Pct. Change
|
|
|
|
|
|
|
Alameda
|
1,428
|
-9.40%
|
$440,000
|
-27.30%
|
|
|
Contra Costa
|
1,730
|
30.30%
|
$350,000
|
-41.60%
|
|
|
Marin
|
277
|
-9.50%
|
$770,000
|
-13.20%
|
|
|
Napa
|
125
|
47.10%
|
$440,000
|
-28.40%
|
|
|
San Francisco
|
609
|
8.00%
|
$749,000
|
-6.30%
|
|
|
San Mateo
|
648
|
-11.00%
|
$670,000
|
-16.30%
|
|
|
Santa Clara
|
1,660
|
-13.10%
|
$585,500
|
-16.40%
|
|
|
Solano
|
592
|
45.10%
|
$275,000
|
-33.70%
|
|
|
Sonoma
|
517
|
0.00%
|
$362,500
|
-30.30%
|
|
|
Bay Area
|
7,586
|
2.20%
|
$470,000
|
-29.30%
|
|
|
Source: Data Quick Information Systems
|
|
According to MDA DataQuick, a total of 7,586 new and resale houses and condos sold throughout the Bay Area in July. A 5.7 percent increase from 7,178 in June 2008. Sales grew 2.2 percent from (7,423) when compared with July 2007.
Sales in the Bay Area counties most affected by foreclosures jumped in a year-over-year comparison.
Sales in Contra Costa County gained 30 percent over July 2007, and sales numbers in Solano and Napa Counties climbed 45 percent and 47 percent, respectively. These three counties saw sales numbers dip to their lowest levels in the month of January 2008, and have all subsequently seen low prices, high inventory, and distress sales driving trends in July.
All Bay Area counties continued to see year-over-year price declines in July. In the East Bay, Alameda County’s median value was $440,000, a 27.3 percent decline over July 2007. The Contra Costa County median home sale value was $350,000, a 41.6 percent decline over July 2007. Of all nine Bay Area counties, Contra Costa had the largest annual decline in median home sale values between July 2007 and July 2008.
In July 2008, a majority of cities in both Alameda and Contra Costa counties saw annual declines in median home values. Berkeley and Alamo were the only two cities to see modest annual increases.
|
City
|
# Sold July 2008
|
Median
July 2008
|
Median July 2007
|
Y-o-Y
% Change
|
|
Alameda County
|
1,264
|
$440,000
|
$611,750
|
-28.08%
|
|
ALAMEDA
|
54
|
$623,500
|
$691,000
|
-9.77%
|
|
ALBANY
|
21
|
$575,000
|
$617,500
|
-6.88%
|
|
BERKELEY
|
65
|
$750,000
|
$693,000
|
8.23%
|
|
CASTRO VALLEY
|
44
|
$492,000
|
$607,500
|
-19.01%
|
|
DUBLIN
|
76
|
$514,000
|
$644,000
|
-20.19%
|
|
EMERYVILLE
|
29
|
$270,000
|
$369,000
|
-26.83%
|
|
FREMONT
|
169
|
$530,000
|
$689,000
|
-23.08%
|
|
HAYWARD
|
138
|
$320,000
|
$510,000
|
-37.25%
|
|
LIVERMORE
|
99
|
$495,000
|
$635,000
|
-22.05%
|
|
NEWARK
|
40
|
$399,000
|
$585,000
|
-31.79%
|
|
OAKLAND
|
268
|
$342,500
|
$560,000
|
-38.84%
|
|
PLEASANTON
|
73
|
$781,500
|
$815,000
|
-4.11%
|
|
SAN LEANDRO
|
99
|
$360,000
|
$505,000
|
-28.71%
|
|
SAN LORENZO
|
27
|
$340,000
|
$529,000
|
-35.73%
|
|
UNION CITY
|
62
|
$415,000
|
$561,000
|
-26.02%
|
|
Contra Costa County
|
1,621
|
$349,000
|
$590,000
|
-40.85%
|
|
ALAMO
|
18
|
$1,461,500
|
$1,375,000
|
6.29%
|
|
ANTIOCH
|
244
|
$250,500
|
$425,000
|
-41.06%
|
|
BETHEL ISLAND
|
2
|
$235,000
|
n/a
|
n/a
|
|
BRENTWOOD
|
149
|
$374,000
|
$546,000
|
-31.50%
|
|
CLAYTON
|
10
|
$591,000
|
$675,000
|
-12.44%
|
|
CONCORD
|
165
|
$315,000
|
$495,000
|
-36.36%
|
|
CROCKETT
|
2
|
$389,250
|
n/a
|
n/a
|
|
DANVILLE
|
67
|
$930,000
|
$990,000
|
-6.06%
|
|
DISCOVERY BAY
|
36
|
$395,000
|
n/a
|
n/a
|
|
EL CERRITO
|
19
|
$550,000
|
$625,000
|
-12.00%
|
|
EL SOBRANTE
|
29
|
$330,000
|
$575,000
|
-42.61%
|
|
HERCULES
|
36
|
$368,250
|
$535,000
|
-31.17%
|
|
LAFAYETTE
|
24
|
$1,017,000
|
$1,274,500
|
-20.20%
|
|
MARTINEZ
|
35
|
$404,000
|
$485,000
|
-16.70%
|
|
MORAGA
|
19
|
$805,000
|
$1,162,250
|
-30.74%
|
|
OAKLEY
|
96
|
$276,000
|
$421,500
|
-34.52%
|
|
ORINDA
|
20
|
$1,038,500
|
$1,242,500
|
-16.42%
|
|
PINOLE
|
15
|
$325,000
|
$592,000
|
-45.10%
|
|
PITTSBURG
|
149
|
$250,000
|
$450,000
|
-44.44%
|
|
PLEASANT HILL
|
37
|
$475,500
|
$615,000
|
-22.68%
|
|
RICHMOND
|
105
|
$178,500
|
$408,000
|
-56.25%
|
|
RODEO
|
6
|
$357,500
|
$524,000
|
-31.77%
|
|
SAN PABLO
|
84
|
$263,250
|
$450,000
|
-41.50%
|
|
SAN RAMON
|
119
|
$700,500
|
$827,500
|
-15.35%
|
|
WALNUT CREEK
|
125
|
$599,000
|
$650,000
|
-7.85%
|
|
Source: DataQuick / SF Chronicle
|
|
