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Bay Area Housing Market Posts Strong September


Source: San Jose Mercury News
san jose residential subdivision
Despite two years of double-digit increases that have home prices approaching previous peaks, there’s still plenty of demand for single-family houses, condos and townhouses in the nine-county Bay Area, according to the latest snapshot of the region’s booming real estate market.

A total of 7,141 sales of all types of homes were recorded in the strongest September in five years, the real estate information service CoreLogic DataQuick reported Tuesday. That was an increase of 4.2 percent from a year ago. The median sale price of $604,000 was up 14 percent in one year, but still below the peak of $665,000 reached in June and July 2007, just before the housing crash.

HNot every county reported such strong sales. Santa Clara County sales were down slightly from a year ago, probably depressed by a combination of high prices and a shortage of homes for sale. That contrasted with five-year September highs in Contra Costa and Alameda counties, and a three-year high in San Mateo County, the Irvine-based real estate information company reported.

Read the full story at MercuryNews.com