Bay Area Home Prices Jump.Business Editors/Real Estate Writers LA JOLLA La Jolla (lə hoi`yə), on the Pacific Ocean, S Calif., an uninc. district within the confines of San Diego; founded 1869. The beautiful ocean beaches, in particular La Jolla shores and Black's Beach, and sea-washed caves attract visitors and , Calif.--(BUSINESS WIRE)--Nov. 22, 2000 Bay Area home prices jumped to another record in October October: see month. , proving wrong predictions that prices would level off at the end of the year. Sales counts remained high, a real estate information service reported. A total of 6,737 resale resale n. selling again, particularly at retail. In many states a "resale license" or "resale number" is required so that the state can monitor the collection of sales tax on retail sales. RESALE. houses were sold in the nine-county Bay Area last month. That was virtually equal to September's 6,734, and up 0.2 percent from 6,725 for October last year, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. DataQuick Information Systems. Last month's sales count was the highest for any October in DataQuick's statistics, which go back to 1988. So far this year 63,887 resale houses have been sold in the Bay Area, down 5.7 percent from 67,746 for the same ten-month period last year. "We're we're Contraction of we are. we're we are surprised. We expected sales counts to be down slightly. The demand is there, now it looks like more potential sellers are putting their homes on the market. They probably like the prices being paid," said Mike Ela, DataQuick's president. The median price paid for a resale Bay Area house was $385,000. That was up 3.8 percent from $371,000 for September September: see month. , and up 26.2 percent from $305,000 for October last year. The year-over-year jump is the strongest DataQuick has on record. DataQuick, a business unit of Vancouver-based MacDonald Dettwiler MacDonald, Dettwiler and Associates Ltd. (TSX: MDA) is a Richmond based, Canadian information services and products company, employing over 3000 people throughout Canada, the United States and the United Kingdom, under the MDA brand name. and Associates, monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions Noun 1. lending institution - a financial institution that makes loans financial institution, financial organisation, financial organization - an institution (public or private) that collects funds (from the public or other institutions) and invests them in , title companies and industry analysts. Sales of resale houses statewide totaled an estimated 32,550 last month, up 3.4 percent from 31,492 for October last year. The statewide median was $211,000, up 14.4 percent from $184,500 last year, DataQuick reported.
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Resale houses
No Sold No Sold Pct. Median Median Pct.
Oct-99 Oct-00 Chng. Oct-99 Oct-00 Chng.
Alameda 1,279 1,319 3.1% $262K $355K 35.5%
Contra Costa 1,174 1,202 2.4% $230K $270K 17.4%
Marin 329 230 -30.1% $408K $549K 34.6%
Napa 118 137 16.1% $230K $285K 23.9%
San Francisco 373 359 -3.8% $402K $480K 19.4%
San Mateo 690 580 -15.9% $420K $535K 27.4%
Santa Clara 1,636 1,712 4.6% $375K $495K 32.0%
Solano 515 598 16.1% $166K $200K 20.5%
Sonoma 611 600 -1.8% $241K $305K 26.6%
Bay Area Total 6,725 6,737 0.2% $305K $385K 26.2%
Source: DataQuick Information Systems
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