While overall Bay Area pace of sales in May still trends 2 percent below last year’s levels, some regions are starting to see sales pace pick up ahead of last year. Sales below $1 million are up for the second month in a row after more than 20 months of annual declines.
CONTRA COSTA COUNTY
At $1.3 million, May median sales price in Contra Costa County retrieved from the previous month’s high, but still continues to trend ahead of last summer. Days on market continued to trend lower with homes selling as fast as they did at the same time last year, averaging 18 days on the market. See Contra Costa County market statistics for May.
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
While retrieving slightly from the previous month’s peak, median home prices in the East Bay in May remained ahead of last year, at $1.2 million. The pace of sales activity also picked up again with homes selling on average in 17 days, only a day longer than the 16-day average seen last spring. See East Bay market statistics for May.
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
At $1.45 million in May, Marin County median home prices continued the recent trend of monthly increases but still fall slightly short of last May. Pace of sales also picked up slightly from previous months though taking a few days longer at the same time last year. See Marin County market statistics for May.
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
After a slow winter season, Napa County‘s May median sales price picked up pace again and increased 2.8 percent above last year, to a median of $725,000. Homes continued to sell at a faster pace, averaging 56 days before entering into a contract, only 2 days longer than last May. See Napa County market statistics for May.
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
Median home prices for single-family homes continued with a strong upward trend, bringing San Francisco‘s May median prices to $1,697,500. Number of homes under contract also continued to accelerate with almost 50 percent of homes available for sale being under contract. See San Francisco single-family-home market statistics for May.
SAN FRANCISCO — CONDOMINIUMS
At $1,250,000 median sales price, San Francisco condominiums trended only slightly below last year’s median price mostly reflecting the change in types of units being sold. Buyer activity remains strong and the share of units under contract picked up again, up 8.1 percent points year-over-year to 37.7 percent. See San Francisco condominium market statistics for May.
SILICON VALLEY
Silicon Valley median prices picked up in recent months and reached $3,350,000 in May, 1.5 percent ahead of last May. Buyers otherwise remain more restrained than last year, taking longer to decide to purchase, leading to an average of 27 days on market. See Silicon Valley market statistics for May.
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
The median sales price in the Mid-Peninsula continued to trend lower in May compared to last year. Homes under contract were down 6.3 percent with average days on market 10 days slower. See Mid-Peninsula market statistics for May.
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
Sonoma County’s median homes prices continued their monthly increase after some bumpy winter months reaching $665,000 in May, or 4.4 percent below last year. Pace of home sales also continues to improve averaging 54 days in May, 9 days more than last year. See Sonoma County market statistics for May.
Defining Sonoma County: Sales data in the adjoining chart includes all single-family homes and farms and ranches in Sonoma County.
SONOMA VALLEY
Median home prices in Sonoma Valley picked up in May after relatively flat at the beginning of the year, reaching $905,000. The pace of home sales also improved notably bringing the average days on market to 45 days. See Sonoma Valley market statistics for May.
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
Median prices of single-family homes in Lake Tahoe/Truckee has been oscillating over the last year and reached almost $727,000 in May, down 2.1 percent from last year. Pace of sales has slowed somewhat averaging 75 days, 13 days more than last year. See Lake Tahoe/Truckee single-family-home market statistics for May.
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
Median home prices of condominiums in Lake Tahoe/Truckee has trended slightly lower in recent months bringing the May median sales price to $423,500, about 1.4 percent below last year. The pace of condominium sales has slowed more significantly, averaging 104 days in May, though these sales vary considerably throughout the year. See Lake Tahoe/Truckee condominium market statistics for May.
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.