Bay Area Home Sales Top Last Year Again, Median Price Falls to $300K

23 Feb

Bay Area Home Sales Top Last Year Again, Median Price Falls to $300K

Posted by: admin / Category: Real Estate News

bay area homes Bay Area Home Sales Top Last Year Again, Median Price Falls to $300K Bay region home sales increased above a year ago for the fifth successive month in January as home buying remained sluggish in pricier coastal markets but grew up in many local areas, according to a report on this Thursday by MDA DataQuick.

MDA DataQuick said a total of 5,050 new and resale houses and condos closed escrow in the nine-county bay area last month. That was down 26.7 percent from 6,889 in December but up 40.8 percent from 3,586 in January 2008 and the median price fell to $300,000, approximately half of where prices stood a year ago. Last month’s sales were the third-lowest for a January since 1988, when DataQuick’s statistics start, and 20 percent lower the average for the month. January sales were from a low of 3,586 in 2008 to a high of 8,298 in 2005.

Now, in the mind of every person who is related with real estate business has one of the most common questions is, when will things get better in the housing market?