San Francisco

Bay Area Home Sales See Steady Decline: Report

According to new information from data analyst CoreLogic, Bay Area home sales have seen a steady decline over the last year.

CoreLogic reported that sales fell 2.2% from July of last year while the median home price dropped by 4.1% to $815,500 in the nine-county region. The report also noted that total home sales in the Bay Area for July of 2019 were the lowest since the same month in 2011.

The most affordable counties as of July of this year were Solano, Sonoma and Contra Costa counties with median sale prices of $450,000, $585,000 and $617,000.

Solano, however, was one of only two counties that saw an increase in median sale price, up 4.3% from last year’s $431,250. San Francisco’s median sale price was also up, increasing 3.8% from $1.3 million to $1.35 million.

The counties that experienced the largest decreases in median sale price were Napa, Marin, Contra Costa and San Mateo counties. Napa’s median home sale price was down 4.6%, from $669,600 to $638,500. Marin’s sale price was down 3.6%, from $1.1 million to $1.06 million.

Contra Costa County saw a decrease in median home sale price of 2.8% from last year, from $635,000 to $617,500. San Mateo dropped 2.8% as well, from $1.369 million to $1.33 million.

Despite the downward trend, Bay Area home prices remain among the highest in the nation.

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