Napa County and San Francisco Bay Area March 2012 home sales continue at brisk pace

Napa County and San Francisco Bay Area March 2012 home sales

For Napa County, March 2012 homes sales were the same as March 2011, 136 homes sold but up from February’s 104. This is the highest number since March of  2004 when 171 sold. Here are the numbers for Napa County for the last 9 years.

Month Year                     # Sold                        Average Price              Median Price           Days on Market

For the San Francisco Bay Area March 2012 home sales reached their highest level in five years. March buyers purchased 7,694 houses and condos in the nine-county Bay Area, according to DataQuick, a San Diego-based real estate information service. That was up 9 % from a year earlier and the highest number sold for the month since 8,317 homes in March 2007.

The median price paid for all sales climbed 10 % from February to $358,000, but was down nearly 1 % from a year earlier. The median has declined on a year-over-year basis every month since October 2010, though last month’s decline was the smallest for that period.

The low point of the current real estate cycle was $290,000 in March 2009. The peak was $665,000 in June/July 2007. Around half of the drop in prices resulted from a decline in home values, while the other half reflected a shift in the mix of homes sold.

Foreclosures and short sales made up 44 % of the market last month, down from 48 %  a year earlier. In Napa County foreclosure and short sales accounted for 73 of the 136 sold, a 53.7 %. Absentee buyers – mostly investors – in March purchased 24 % the homes sold, down from nearly 26 % in February.

Thank you for reading this post. If I can ever be of help in finding you the perfect property here in the Napa Valley, please email me at Curtis@NapaValleyAddress.com

Your Napa Valley Broker Extraordinaire, selling Real Estate here from its heart, Yountville

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