Bay Area Home Sales Level Off.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)--Sept. 24, 1998--Bay Area home sales and prices continued to rise in August, although at a more moderate rate than earlier this year, a real estate information service reported. A total of 6,423 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 (see chart). That was down 17.5 percent from 7,787 for the month before, and up 2.8 percent from 6,251 for August 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. Acxiom Acxiom is a customer and data information management company, offering a range of products and services including information technology outsourcing. It has been described as "one of the biggest companies you've never heard of. Corporation's DataQuick Products Division. The July July: see month. sales count of 7,787 was the highest since 7,827 resale houses were sold in September September: see month. 1988. Sales have increased on a year-over-year basis for 36 of the last 37 months. "June and July were pretty hectic hec·tic adj. 1. Characterized by intense activity, confusion, or haste: "There was nothing feverish or hectic about his vigor" Erik Erikson. 2. , the August sales pace was a lot more manageable. The real estate industry can catch its breath now as things quiet down for the fall season," said Mike Ela, leader of Acxiom's DataQuick Products Division. "Price increases are expected to continue in areas with small to mid-sized homes. The increases will probably level off somewhat in high-cost areas," he said. Acxiom's DataQuick Products Division 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. The median price for a resale house in the Bay Area was $276,000 in last month. That was down 1.4 percent from $280,000 in July and up 6.2 percent from $260,000 for August a year ago. Much of the 'decline' from July to August can be attributed to a shift in market mix due to a surge in sales activity in affordable North Bay communities, Acxiom reported. -0-
(Chart)
Resale houses
No Sold No Sold Pct. Median Median Pct.
Aug-97 Aug-98 Chng. Aug-97 Aug-98 Chng.
Alameda 1,214 1,249 2.9% $224K $250K 11.6%
Contra Costa 1,200 1,195 -0.4% $232K $225K -3.0%
Marin 334 356 6.6% $340K $376K 10.6%
Napa 115 134 16.5% $185K $203K 9.7%
San Francisco 361 370 2.5% $310K $321K 3.5%
San Mateo 639 602 -5.8% $350K $364K 4.0%
Santa Clara 1,463 1,329 -9.2% $305K $352K 15.4%
Solano 394 489 24.1% $138K $159K 15.2%
Sonoma 531 699 31.6% $201K $215K 7.0%
Bay Area 6,251 6,423 2.8% $260K $276K 6.2%
Source: Acxiom/DataQuick
For more information call John Karevoll (909) 867-9534. |
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