March 13, 2018 • Posted in Featured Posts, Pacific Union Monthly Real Estate Updates
February’s median sales price rose by double-digit percentage points year over year in five of Pacific Union’s Bay Area regions, with appreciation topping 30 percent for single-family homes in San Francisco and Silicon Valley.
Click on the image accompanying each of our regions below for an expanded look at local real estate activity in February. For a more detailed examination of current Bay Area housing market trends, read the latest monthly analysis from Pacific Union Chief Economist Selma Hepp.
CONTRA COSTA COUNTY
Contra Costa County was one of two Northern California regions to see inventory improve in February from one year earlier, with 3.1 percent more homes on the market. The median sales price posted a nearly identical gain, up 3.4 percent year over year to $1,215,000.
Click the image to the right to see these and other Contra Costa County market statistics for February.
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
At $1,057,000, February’s median sales price in the East Bay was basically unchanged from one year earlier. Homes sold for an average of 116.6 percent of original price, the largest premium recorded in any of Pacific Union’s Bay Area regions.
Click the image to the right to see these and other East Bay market statistics for February.
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 ended February at $1,356,000, an annual gain of 15.4 percent. Buyers paid an average of $700 per square foot, up 16.9 percent year over year.
Click the image to the right to see these and other Marin County market statistics for February.
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
Homes in Napa County sold in an average of 93 days in February, six weeks faster than at the same time in 2017. The median sales price climbed to $714,000, a one-year high.
Click the image to the right to see these and other Napa County market statistics for February.
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
February’s median sales price for a single-family home in San Francisco spiked by almost 33 percent year over year, ending the month at $1,715,000. Inventory moved in the opposite direction, declining by 14.4 percent.
Click the image to the right to see these and other San Francisco single-family home market statistics for February.
Defining San Francisco: Sales data in the adjoining chart includes all single-family homes in San Francisco County.
SAN FRANCISCO – CONDOMINIUMS
San Francisco condominium prices relaxed from February 2017, falling by 5.2 percent to $1,148,000. Both price per square foot and the pace of sales were unchanged on an annual basis, a respective $1,094 and an average 39 days on the market.
Click the image to the right to see these and other San Francisco condominium market statistics for February.
Defining San Francisco: Sales data in the adjoining chart includes all condominiums in San Francisco County.
SILICON VALLEY
The median sales price in Pacific Union’s Silicon Valley region was $3,450,000 in February, a one-year high and an annual gain of 30.2 percent. Homes sold in a brisk 20 days, 10 days faster than at the same time in 2017.
Click the image to the right to see these and other Silicon Valley market statistics for February.
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
Mid-Peninsula homes found a buyer in an average of 18 days in February, matching the pace of sales recorded one year earlier. The median sales price was also nearly unchanged from last February, ending the month at $1,887,495
Click the image to the right to see these and other Mid-Peninsula market statistics for February.
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 climbed to a one-year high of $697,000 in February, up 15.8 percent on an annual basis. Buyers paid an average of $503 per square foot, about 24 percent more than they did at the same time last year.
Click the image to the right to see these and other Sonoma County market statistics for February.
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 properties sold in an average of 78 days in February, about three weeks faster on an annual basis. The median sales price was $750,000, up by 10.3 percent year over year.
Click the image to the right to see these and other Sonoma Valley market statistics for February.
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
There were 20.5 percent fewer single-family homes for sale in February in the Lake Tahoe/Truckee region than there were at the same time in 2017. The median sales price was $725,000, down 2.0 percent year over year.
Click the image to the right to see these and other Lake Tahoe/Truckee single-family home market statistics for February.
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
Condominium inventory in the Lake Tahoe region also dropped by double-digit percentage points year over year in February, declining by 29 percent. February’s median sales price was $435,000, an annual decline of 4.1 percent.
Click the image to the right to see these and other Lake Tahoe/Truckee condominium market statistics for February.
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.