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Now that we are in the summer home buying months I thought it would be a good idea to take a look at some market indicators for the Bay Area Counties.
As can be seen below, the media selling price has dropped for most Bay Area Counties during the past 12 months.  Now keep in mind, the median sales price is merely an indication of what price range has the most sales, it says nothing about the value of any specific home nor its current value.
A key component of sales activity is reflected in available inventory for sale.  After all, home sales and prices are deeply impacted by supply and demand.  As can be seen, “for sale” inventory is down dramatically in the past 12 months.  

At this link, Bay Area Market Metrics, you will find the complete reports by county, including considerable more information than is seen here.

San Mateo County-Median Price   July 2010 $797,500 July 2011 $810,000  -2 .0%
                                    
                                 Inventory      July 2010 4.9 months July 2011  2.6 months  -48%
                                    

Santa Clara County-Median Price  July 2010 $630,000 July 2011 $620,000  -2 .0%
                                    
                                  Inventory      July 2010 4.8 months July 2011  2.0 months  -58%   
                                      
San Francisco-MedianPrice   July 2010 $488,000 July 2011 $649,000  +33 .0%
                                    
                          Inventory      July 2010 11 months July 2011  2.6 months  -77%
                                    
Santa Cruz County      MedianPrice    July 2010 $500,000 July 2011 $460,000  -8 .0%
                                    
                                    Inventory         July 2010 6.3 months July 2011  3.8  months  -40%   
                                    
Alameda County-MedianPrice    July 2010 $450,000 July 2011 $428,000  - 5.0%
                                    
                             Inventory       July 2010 3.8 months July 2011  2.4 months  -37%   
                                     
Contra Costa County-Median Price   July 2010 $315,000 July 2011 $301,000  -4.0%
                                    
                                   Inventory       July 2010 4.8 months July 2011  2.2 months  -44%
                                    

With the complexity in today’s mortgage and real estate market you will benefit from the advice and guidance of an experienced and knowledgeable mortgage and real estate professional. To see how our technology supports the needs of Buyers and Sellers, click here.

I’m always available to answer your questions or discuss your concerns.  Just text, call (650 325 7877) or email me for a prompt response.  If you are in the San Francisco Bay Area,  I invite you to take a look at our Resource Center, www.AboutBayAreaHomes.com. There you will find links for active home listings, home loan information, market activity reports, home seller strategies, staging and decorating ideas and more.

Russ Boyd and his team professionally assist buyers, sellers and homeowners in the Peninsula Communities of the San Francisco Bay Area. They serve clients in San Mateo, San Francisco, Santa Clara, Alameda and Contra Costa counties. Licensed as a Real Estate Broker by the California Department of Real Estate, 01264240. National Mortgage Originator License 230411.