Bay Area Home Prices Dip Again

Foreclosures accounted for nearly 32 percent of last month's sales.

Thursday, Apr 14, 2011  |  Updated 11:22 AM PDT
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Bay Area Home Prices Dip Again

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This is a lovely home recently up for sale in San Francisco.

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New housing numbers are out and the Bay Area took another dip in sales.

San Diego-based MDA DataQuick said Thursday the median home price in the San Francisco Bay Area dropped more than 5 percent between February and March of this year.

It went from $360,000 from $380,000 in March 2010, as low-priced foreclosures and other distressed properties continued to dominate the market.

DataQuick said the median in the nine-county region was up nearly 7 percent from $337,250 in February, but stressed that prices usually increase between February and March.
       
The depressed prices helped maintain home sales, which edged up from 7,040 in March 2010 to 7,051 last month.
       
The firm says that fewer than 34 percent of last month's sales were for homes costing more than $500,000, down from a March average of 47 percent over the past decade.

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