September 11, 2018 by Pacific Union • Posted in Featured Posts, Pacific Union Monthly Real Estate Updates
The median sales price rose year over year in August in every Northern California region in which Pacific Union operates, ranging from less than 1 percent in Marin County to more than 15 percent in Silicon Valley. Single-family home prices in Napa County reached a one-year high, climbing to $745,000.
CONTRA COSTA COUNTY
Contra Costa County‘s median sales price was $1,302,500 in August, up by 6.3 percent on an annual basis. Homes sold in an average of 26 days, identical to the pace of sales in August 2017.
Defining Contra Costa County: Our real estate markets in Contra Costa County include the cities of Alamo, Blackhawk, Danville, Diablo, Lafayette, Moraga, Orinda, Pleasant Hill, San Ramon, and Walnut Creek. Sales data in the adjoining chart includes single-family homes in these communities.
EAST BAY
Homes in the East Bay sold in an average of 21 days in August, faster than anywhere else in the Bay Area. The median sales price ended the month at $1,192,o00, up by 11.1 percent year over year.
Defining the East Bay: Our real estate markets in the East Bay region include Oakland ZIP codes 94602, 94609, 94610, 94611, 94618, 94619, and 94705; Alameda; Albany; Berkeley; El Cerrito; Kensington; and Piedmont. Sales data in the adjoining chart includes single-family homes in these communities.
MARIN COUNTY
Marin County‘s median sales price has been steadily declining throughout the summer and was $1,225,000 in August, nearly identical to one year ago. Homes sold for $685 per square foot and for 97.9 percent of original price, also mostly unchanged from August 2017.
Defining Marin County: Our real estate markets in Marin County include the cities of Belvedere, Corte Madera, Fairfax, Greenbrae, Kentfield, Larkspur, Mill Valley, Novato, Ross, San Anselmo, San Rafael, Sausalito, and Tiburon. Sales data in the adjoining chart includes single-family homes in these communities.
NAPA COUNTY
At $745,000, home prices in Napa County reached a yearly high in August. Buyers took an average of 60 days to close a deal, two weeks faster than they did one year earlier.
Click the image to the right to see these and other Napa County market statistics for August.
Defining Napa County: Our real estate markets in Napa County include the cities of American Canyon, Angwin, Calistoga, Napa, Oakville, Rutherford, St. Helena, and Yountville. Sales data in the adjoining chart includes all single-family homes in Napa County.
SAN FRANCISCO – SINGLE-FAMILY HOMES
The median sales price for a single-family home in San Francisco ended August at $1,575,000, the lowest since January but still up by more than 14 percent year over year. Sellers received an average of 110.1 percent of original price, almost exactly the same as they did in August 2017.
Defining San Francisco: Sales data in the adjoining chart includes single-family homes in San Francisco County.
SAN FRANCISCO – CONDOMINIUMS
There were just more than 550 San Francisco condominiums for sale in August, an annual decline of about 18 percent. The median sales price was $1,275,000, up on both a monthly and yearly basis.
Defining San Francisco: Sales data in the adjoining chart includes condominiums in San Francisco County.
SILICON VALLEY
Home prices in Silicon Valley rose by 15.2 percent year over year to end August at $3,400,000, making it the Bay Area’s fastest-appreciating and most expensive real estate market. Homes sold in an average of 22 days, nine days faster than they did at the same time last year.
Defining Silicon Valley: Our real estate markets in Silicon Valley include the cities and towns of Atherton, Los Altos (excluding county area), Los Altos Hills, Menlo Park (excluding east of U.S. 101), Palo Alto, Portola Valley, and Woodside. Sales data in the adjoining chart includes all single-family homes in these communities.
Mid-Peninsula Subregion
For the first time since February, the Mid-Peninsula‘s median sales price dipped below the $2 million mark, but at $1,900,000, it was up by nearly 10 percent since August 2017. Inventory improved on an annual basis, with about 15 percent more homes on the market.
Defining the Mid-Peninsula: Our real estate markets in the Mid-Peninsula subregion include the cities of Burlingame (excluding Ingold Millsdale Industrial Center), Hillsborough, and San Mateo (excluding the North Shoreview/Dore Cavanaugh area). Sales data in the adjoining chart includes all single-family homes in these communities.
SONOMA COUNTY
The median sales price for a Sonoma County property was $669,500 in August, up both month over month and year over year. Buyers paid 96.7 percent of original price, in line with trends observed over most of the last year.
Defining Sonoma County: Sales data in the adjoining chart includes all single-family homes and farms and ranches in Sonoma County.
SONOMA VALLEY
Sonoma Valley‘s median sales price ended August at $805,000, a year-over-year gain of 15 percent. The number of properties for sale was down by 19 percent from August 2017.
Defining Sonoma Valley: Our real estate markets in Sonoma Valley include the cities of Glen Ellen, Kenwood, and Sonoma. Sales data in the adjoining chart refers to all residential properties – including single-family homes, condominiums, and farms and ranches – in these communities.
LAKE TAHOE/TRUCKEE – SINGLE-FAMILY HOMES
The median sales price for a single-family home in the Lake Tahoe region was $750,000 in August, up by more than 10 percent on an annual basis. Buyers paid $538 per square foot, 17 percent more than they did at the same time last year.
Defining Tahoe/Truckee: Our real estate markets in the Lake Tahoe/Truckee region include the communities of Alpine Meadows, Donner Lake, Donner Summit, Lahontan, Martis Valley, North Shore Lake Tahoe, Northstar, Squaw Valley, Tahoe City, Tahoe Donner, Truckee, and the West Shore of Lake Tahoe. Sales data in the adjoining chart includes single-family homes in these communities.
LAKE TAHOE/TRUCKEE – CONDOMINIUMS
At $430,000, the median sales price for a Lake Tahoe condominium was nearly unchanged from August 2017. There were 13.3 percent fewer units for sale than there were at the same time last year.
Defining Tahoe/Truckee: Our real estate markets in the Lake Tahoe/Truckee region include the communities of Alpine Meadows, Donner Lake, Donner Summit, Lahontan, Martis Valley, North Shore Lake Tahoe, Northstar, Squaw Valley, Tahoe City, Tahoe Donner, Truckee, and the West Shore of Lake Tahoe. Sales data in the adjoining chart includes condominiums in these communities.
