San Fransisco Real Estate Market Slows Slightly
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The red hot real estate market in San Fransisco region has slowed ever so slightly, but by looking at the housing prices one would never know it. The area sold 730 less homes, but those that did sell were for 100,000 dollars more on average. The typical Bay Area home sold for $616,000 dollars as compared to $516,000 dollars in September 2004, the Dataquick figures show.
From CBS5
Home prices rose most dramatically in Sonoma County, up 24.9 percent overall from September 2004. Contra Costa County followed close behind, with a price percentage change of 24.6 percent.
In Sonoma County, 818 homes were sold in September 2005, compared with 926 in September 2004. In Contra Costa County 2,312 homes were sold this September and 2,339 last September, at a decline of 1.2 percent, a flatter decline in sales.
San Francisco experienced the lowest increase in house prices, just 7.8 percent. Home sales dropped 12.9 percent in San Francisco from 689 in September 2004 to 600 in September 2005.
It looks like those who are looking for a bubble to burst in the San Francisco Bay Area will have to wait a little bit longer. The market is as Buster Poindexter says “Hot, Hot, Hot!”.
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Comment by pedro on 23 October 2005:
I question the accuracy of your post. Check this out which was posted just two days before yours:
http://tinyurl.com/9pr9r
You can learn more about that area’s RE market by going to:
http://tinyurl.com/9sqr8