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Bay Area home prices lower but climbing!

The tracking firm, MDA DataQuick, says that the median home price in the San Francisco Bay Area increased more than 12% in May 2009, from April 2009! This was the second month-on-month increase in two years and was driven, in part, by high-end sales (homes over $800,000).

The overall number of homes sold in the Bay Area has increased for nine months in a row! Home sales have increased by almost 19% from a year ago. In May of 2008, the median price in a nine-county region of Northern California was $517,000. By May of 2009, that median price had dropped to $341,500. Some 42% of home sales in May of 2009 were foreclosures.

An MDA DataQuick analyst said that home sales in higher end communities started to “kick in” in a bigger way than has been seen for quite awhile.

(I doubt that the values of the “Painted Ladies” on Steiner Street, pictured above, have declined at all. :-) )

-Bill at Cheshire Cat Photo™

You can view higher-resolution photos (*generally* 7-30 megabytes, compressed) at the Cheshire Cat Photo™ Pro Gallery on Shutterfly™, where you can also order prints and gifts decorated with the photos of your choice from the gallery. Apparel and other gifts decorated with some of our most popular photos can be ordered from the Cheshire Cat Photo™ Store on CafePress®. Both Shutterfly™ and CafePress® ship to most international locations worldwide! If you don’t see what you want or would like to receive an email when new photos are up on the site, send us an email at info@cheshirecatphoto.com.

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