Bay Area Home Sales, Prices Up.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)--Dec. 19, 2000 The anticipated slowdown in the Bay Area's real estate market was a no-show last month as sales and prices continued to rise, a real estate information service reported. A total of 6,252 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 down 7.2 percent from 6,737 for the month before, and up 4.7 percent from November 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. A decline from October to November is normal for the season. Last month's sales count was the strongest for any November since 1988 when 6,276 resale houses were sold. So far this year 70,139 resale houses have been sold in the Bay Area, down 4.9 percent from 73,718 for the same eleven-month period last year. "Inventory has been tight, but with prices as high as they are, it looks like more potential sellers are putting homes on the market. We may also be seeing stock market money being moved into the relatively safe real estate market," said Mike Ela, DataQuick's president. The median price paid for a resale Bay Area house was $390,000. That was up 1.3 percent from $385,000 for October, and up 23.4 percent from $316,000 for November last year. Marin County's median hit $600,000, while medians for San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , San Mateo San Mateo (săn mətā`ō), city (1990 pop. 85,486), San Mateo co., W Calif., on San Francisco Bay; inc. 1894. It is a commercial and retail center with some high-technology manufacturing. San Mateo, Spanish for St. and Santa Clara Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. counties were all above the half million mark. 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 31,535 last month, up 9.5 percent from 28,807 for November last year. The statewide median was $212,500, up 14.6 percent from $185,500 last year, DataQuick reported.
Resale houses
No Sold No Sold Pct. Median Median Pct.
Nov-99 Nov-00 Chng. Nov-99 Nov-00 Chng.
Alameda 1,171 1,382 18.0% $280K $360K 28.6%
Contra Costa 1,082 1,163 7.5% $231K $262K 13.4%
Marin 304 251 -17.4% $440K $600K 36.4%
Napa 96 110 14.6% $205K $275K 34.1%
San Francisco 312 291 -6.7% $418K $500K 19.6%
San Mateo 577 531 -8.0% $420K $515K 22.6%
Santa Clara 1,415 1,479 4.5% $400K $510K 27.5%
Solano 469 531 13.2% $167K $203K 21.6%
Sonoma 546 514 -5.9% $258K $333K 29.1%
Bay Area Total 5,972 6,252 4.7% $316K $390K 23.4%
Source: DataQuick Information Systems
|
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion