Monthly Report on Bay Area RE sales - April 2016
San Francisco Bay Area’s Median Home Sale Price Climbs to All-Time Peak in April; Sales Rise from March but Fall Year Over Year
New data released today by CoreLogic® shows the median price paid for all homes sold in Alameda, Contra Costa, Marin, Napa, Santa Clara, San Francisco, San Mateo, Solano and Sonoma counties in April 2016 hit a new high for the region at $686,000. The prior peak of $665,000 was reached in June and July of 2007. The median price was up 5.5 percent month over month from $650,000 in March 2016* and up 4.1 percent year over year from $659,000 in April 2015. An increase in the median sale price between March and April in the San Francisco Bay Area is normal, and the average change between those two months since 1988 is a gain of 2.5 percent. The median sale price has risen year over year for 49 consecutive months.
“Three of the San Francisco Bay Area’s nine counties – Alameda, San Francisco and Santa Clara – posted record median sale prices in April,” said Andrew LePage, research analyst with CoreLogic. “However, each of these counties, unlike the overall region, had previously surpassed its 2007 peak median. The medians in Marin and San Mateo counties hovered just below record levels last month, while medians in the remaining four counties were about 13 to 27 percent below their peaks. Also, when adjusted for inflation, the San Francisco Bay Area’s April 2016 median sale price was still about 14 percent below its peak.”