Bay Area Home Prices Party Like it's 1999 - NBC Bay Area

Bay Area Home Prices Party Like it's 1999

It's just that bad now.

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    NEWSLETTERS

    Bay Area Home Prices Party Like it's 1999
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    It's not just the numbers, it's the people behind them.

    A tracking firm says the median home price in Northern California dropped 46 percent in February from a year ago, dropping the figure to its lowest level since 1999.

    MDA DataQuick also says in a report released Thursday that home sales rose 26 percent in the region as buyers flocked to single-family homes in far-flung suburbs that have been stung by foreclosure.

    DataQuick says the median home price in a nine-county region of Northern California was $295,000 last month, compared to $548,000 in February of 2008.

    The February median stood at its lowest since it was $299,000 in December 1999. The median price for the area peaked at $665,000 in mid-2007.

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    Home sales, median prices in February in select California counties: 

    COUNTY               UNITS SOLD       PERCENT CHANGE      MEDIAN PRICE        PERCENT CHANGE

    San Francisco         272                             -36.9                            $640,000                    -13.0 

    Marin                          111                            -18.4                            $573,409                    -26.0 

    San Mateo                  311                           -9.3                              $502,250                    -22.3 

    Santa Clara               1,079                         9.7                              $408,750                     -37.9 

    Orange                      1,879                          27.7                            $375,000                     -27.9

    Napa                          88                               54.4                             $322,500                    -38.6 

    Ventura                      545                             10.1                             $327,000                    -26.5

    Los Angeles            4,590                           32.4                            $299,000                    -35.0 

    Alameda                   971                             29.0                             $290,000                    -40.4 

    San Diego                2,473                         26.6                              $285,000                    -31.3

    Sonoma                    360                            41.7                             $282,000                     -29.5 

    Contra Costa           1,283                          70.4                             $216,500                    -51.9 

    Solano                       557                           100.4                            $195,000                    -44.3 

    Riverside                  3,420                         59.3                              $190,000                    -41.5

    San Bernardino       2,324                         87.1                             $153,000                     -47.2

    ------ Source: MDA DataQuick