Normalizing annual home price growth was evident across parts of the Bay Area in July, with the median single-family home price in Contra Costa County, the East Bay, San Francisco, Silicon Valley, and Sonoma County rising by single-digit percentage points from one year earlier. Only single-family home prices in the Lake Tahoe region and Marin County posted double-digit percent annual appreciation. Price growth was flat in Napa County, while prices fell year over year in our Mid-Peninsula and Sonoma Valley regions.
Click on the chart accompanying each of our regions below for an expanded look at local real estate activity in July.
CONTRA COSTA COUNTY 
The median sales price in Contra Costa County cooled slightly from June, but at $1,165,000, it is in the same general range as it has been since the spring. The months’ supply of inventory (MSI) was up on both an annual and monthly basis, ending July at 1.7.
Homes sold in an average of 25 days, and buyers paid 98.8 percent of original prices.
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
The median sales price in our East Bay region reached seven figures for the second time this year, finishing July at exactly $1 million. Homes in the region continue to command significant premiums, with sellers pulling in 112.4 percent of asking prices.
Homes sold in a brisk 19 days, similar to the pace of sales in the preceding four months. Inventory rose only very slightly from June and last July to 1.0, giving East Bay sellers a continued advantage for the most part.
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
The pace of sales in Marin County slowed in July, with homes taking 46 days to sell, more than a week longer than in the previous month. The median sales price softened slightly from June to $1,186,000 but was up by 12 percent from July 2015.
The MSI closed July at 1.6, and buyers paid 98.3 percent of original prices.
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 $628,000, the median sales price in Napa County was essentially unchanged from one year earlier. Buyers paid 95.4 percent of asking prices, also nearly identical to July 2015.
The MSI rose to 2.9, up on both an annual and monthly basis, with homes selling in an average of 78 days.
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 single-family home price in San Francisco ended July at $1,370,000, in the same general range as it has been since February. Homes continue to fetch premiums, selling for 105.9 percent of original prices, although overbids are substantially smaller than they were last summer.
Homes sold in an average of 32 days, nearly identical to June’s pace of sales. The MSI finished July at 1.8, with a few more homes on the market than in the previous month.
SAN FRANCISCO – CONDOMINIUMS
San Francisco’s median condominium price cooled slightly on both an annual and monthly basis, dropping to $1,080,000 in July. Buyers paid 102.7 percent of original prices, a bit less of a premium than they did last summer.
Both the average days on market and the MSI remained unchanged from June, at 36 and 2.1, respectively.
SILICON VALLEY
The median sales price in our Silicon Valley region has been gradually dropping since April, but at $2.8 million it remains the most expensive region in which Pacific Union operates. Still, buyers netted slight discounts for the fourth consecutive month, with the average home selling for 98.8 percent of original price.
The MSI rose to 2.0, its highest level since March, and homes sold in an average of 26 days.
Defining Silicon Valley: Our real estate markets in the Silicon Valley region include the cities and towns of Atherton, Los Altos (excluding county area), Los Altos Hills, Menlo Park (excluding east ofU.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
After dropping significantly in June, the median sales price in our Mid-Peninsula subregion rebounded in July to $1,640,000, although it was down on an annual basis. Sellers received 103.7 percent of asking prices, not dramatically different from the previous three months.
Homes took an average of 19 days to find a buyer — identical to June — while the MSI rose modestly to 1.4.
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
After breaking the $600,000 mark in June, Sonoma County‘s median sales price relaxed in July, falling to $575,000. At 1.9, the MSI is nearly the same as levels recorded over the previous four months.
Buyers paid 97.9 percent of original prices, identical to July 2015. The pace of sales was also similar to one year ago, with homes selling in an average of 57 days.
Defining Sonoma County: Our real estate markets in Sonoma County include the cities of Cloverdale, Cotati, Healdsburg, Penngrove, Petaluma, Rohnert Park, Santa Rosa, Sebastopol, and Windsor. Sales data in the adjoining chart includes all single-family homes and farms and ranches in Sonoma County.
SONOMA VALLEY
The median sales price declined in Sonoma Valley on both an annual and monthly basis, closing out July at $660,000. The supply of available homes moved in the opposite direction, with the MSI climbing to 3.7.
Properties sold in an average of 55 days, faster than in June or July 2015, and buyers paid 95.1 percent of original prices.
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/Truckee region saw solid annual appreciation in July, rising 15 percent to $675,000. At 4.6, the MSI is at its lowest level in the past year.
Buyers were also acting quicker than they have in the past 12 months, with the average home selling in 71 days for 93 percent of asking price.
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
Condominiums for sale in the Lake Tahoe/Truckee remain plentiful, with the MSI finishing July at 10.1. The median sales price was $355,000, virtually unchanged from one year ago.
Buyers in the region paid 94.1 percent of original prices, with condominiums taking an average of 114 days to leave the market.
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.