Tuesday, October 17, 2006

Bay Area home prices, sales down - East Bay Business Times:

Bay Area home prices, sales down - East Bay Business Times:: "East Bay Business Times - October 17, 2006

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Bay Area home prices, sales down
East Bay Business Times - 1:58 PM PDT Tuesday

Bay Area home prices dropped 0.8 percent in September from the same period a year ago, the first time in more than four years that area prices recorded a year-over-year decline, according to DataQuick Information Systems.

In the East Bay, home sales were down by more than 25 percent county to county from September a year ago.

The median price paid for a home in the nine-county Bay Area was $611,000 last month, down from $616,000 in September 2005. The median price for September was also down 1.5 percent from $620,000 in August, but that fits with a normal seasonal shift in purchase patterns. Sales usually decline from August to September.

DataQuick said sales were at their lowest level in five years.

The year-over-year decline was the first since March 2002 when the $381,000 median dropped 1.3 percent from $386,000 a year earlier.

A total of 7,907 new"

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