SF Bay Area home sales up 20% in June
The median sales price in the Bay Area was $352,000, down from $485,000 in June 2008 and 47% below the peak median of $665,000 in June of 2007. The median sales price in the Bay Area seems to have hit bottom at $290,000 in March of 2009.
The market in the Bay Area is being driven less by foreclosures, and higher-end sellers are reducing their prices, which is attracting buyers. Foreclosed homes accounted for 37% of sales.
-Bill at Cheshire Cat Photo™
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