Pacific Union’s January 2018 Real Estate Update

The median sales price rose on an annual basis in January in every Bay Area region in which Pacific Union operates except Napa County, while the Mid-Peninsula was the only region to see inventory conditions improve.

Click on the image accompanying each of our regions below for an expanded look at local real estate activity in January.

CONTRA COSTA COUNTY Summary of January housing

The median sales price in Contra Costa County ended January at $1.2 million, a year-over-year gain of 11 percent. Inventory dropped by nearly 14 percent from last January, while homes sold six days faster.

Click the image to the right to see these and other Contra Costa County market statistics for January.

Defining Contra Costa County: Our real estate markets in Contra Costa County include the cities of Alamo, Blackhawk, Danville, Diablo, Lafayette, Moraga, Orinda, Pleasant Hill, San Ramon, and Walnut Creek. Sales data in the adjoining chart includes single-family homes in these communities.


EAST BAY

The median sales price in our East Bay region was $1.03 million in January, an annual gain of 9 percent. Homes continued to command premium prices, an average of 107.7 percent of original price.

Click the image to the right to see these and other East Bay market statistics for January.

Defining the East Bay: Our real estate markets in the East Bay region include Oakland ZIP codes 94602, 94609, 94610, 94611, 94618, 94619, and 94705; Alameda; Albany; Berkeley; El Cerrito; Kensington; and Piedmont. Sales data in the adjoining chart includes single-family homes in these communities.


MARIN COUNTY

At $1.23 million, January’s median sales price in Marin County increased by 9 percent from the previous year. There were 211 single-family homes for sale, an annual decline of 25 percent.

Click the image to the right to see these and other Marin County market statistics for January.

Defining Marin County: Our real estate markets in Marin County include the cities of Belvedere, Corte Madera, Fairfax, Greenbrae, Kentfield, Larkspur, Mill Valley, Novato, Ross, San Anselmo, San Rafael, Sausalito, and Tiburon. Sales data in the adjoining chart includes single-family homes in these communities.


NAPA COUNTY

The median sales price in Napa County ended January at $657,500, an annual decline of 3 percent. The number of homes for sale decreased by nearly 17 percent from one year earlier.

Click the image to the right to see these and other Napa County market statistics for January.

Defining Napa County: Our real estate markets in Napa County include the cities of American Canyon, Angwin, Calistoga, Napa, Oakville, Rutherford, St. Helena, and Yountville. Sales data in the adjoining chart includes all single-family homes in Napa County.


SAN FRANCISCO – SINGLE-FAMILY HOMES

January’s median sales price for a single-family home in San Francisco closed out January at $1.33 million, up 6.4 percent year over year. There were 260 homes on the market, an annual drop of 32.5 percent.

Click the image to the right to see these and other San Francisco single-family home market statistics for January.

Defining San Francisco: Sales data in the adjoining chart includes all single-family homes in San Francisco County.


SAN FRANCISCO – CONDOMINIUMS

The median sales price for a San Francisco condominium was $1.05 million in January, a slight annual increase of 1.4 percent. As with single-family homes, inventory declined by double-digit percentage points, dropping by nearly 20 percent from one year earlier.

Click the image to the right to see these and other San Francisco condominium market statistics for January.

Defining San Francisco: Sales data in the adjoining chart includes all condominiums in San Francisco County.


SILICON VALLEY

With a median sales price of $3.4 million, a year-over-year increase of 15 percent, Silicon Valley remains the most expensive real estate market in which Pacific Union operates. Homes sold in an average of 34 days, 19 days faster than they did one year ago.

Click the image to the right to see these and other Silicon Valley market statistics for January.

Defining Silicon Valley: Our real estate markets in Silicon Valley include the cities and towns of Atherton, Los Altos (excluding county area), Los Altos Hills, Menlo Park (excluding east of U.S. 101), Palo Alto, Portola Valley, and Woodside. Sales data in the adjoining chart includes all single-family homes in these communities.

Mid-Peninsula Subregion

January’s median sales price for a home in the Mid-Peninsula was $1.59 million, an annual gain of 3 percent. The region was the only one in which Pacific Union operates to see inventory improve from January 2017, with the number of homes for sale up by 8 percent.

Click the image to the right to see these and other Mid-Peninsula market statistics for January.

Defining the Mid-Peninsula: Our real estate markets in the Mid-Peninsula subregion include the cities of Burlingame (excluding Ingold Millsdale Industrial Center), Hillsborough, and San Mateo (excluding the North Shoreview/Dore Cavanaugh area). Sales data in the adjoining chart includes all single-family homes in these communities.


SONOMA COUNTY

The median sales price for a Sonoma County property was $670,000 in January, up 15.5 percent year over year. Inventory shrank by 15 percent from January of the previous year.

Click the image to the right to see these and other Sonoma County market statistics for January.

Defining Sonoma County: Sales data in the adjoining chart includes all single-family homes and farms and ranches in Sonoma County.


SONOMA VALLEY

Sonoma Valley posted the Bay Area’s largest annual median sales price gain in January, up 43 percent to $1.22 million. Buyers paid an average of $616 per square foot, a year-over-year gain of 19 percent.

Click the image to the right to see these and other Sonoma Valley market statistics for January.

Defining Sonoma Valley: Our real estate markets in Sonoma Valley include the cities of Glen Ellen, Kenwood, and Sonoma. Sales data in the adjoining chart refers to all residential properties – including single-family homes, condominiums, and farms and ranches – in these communities.


LAKE TAHOE/TRUCKEE – SINGLE-FAMILY HOMES

At $692,500, January’s median sales price for a single-family home in the Lake Tahoe/Truckee region was essentially unchanged from one year ago. Homes sold for an average of $538 per square foot, up 39 percent year over year.

Click the image to the right to see these and other Lake Tahoe/Truckee single-family home market statistics for January.

Defining Tahoe/Truckee: Our real estate markets in the Lake Tahoe/Truckee region include the communities of Alpine Meadows, Donner Lake, Donner Summit, Lahontan, Martis Valley, North Shore Lake Tahoe, Northstar, Squaw Valley, Tahoe City, Tahoe Donner, Truckee, and the West Shore of Lake Tahoe. Sales data in the adjoining chart includes single-family homes in these communities.


LAKE TAHOE/TRUCKEE – CONDOMINIUMS

The median sales price for a condominium in the Lake Tahoe/Truckee region rose by 22 percent year over year in January to end the month at $420,000. The number of units for sale declined by 32 percent on an annual basis.

Click the image to the right to see these and other Lake Tahoe/Truckee condominium market statistics for January.

Defining Tahoe/Truckee: Our real estate markets in the Lake Tahoe/Truckee region include the communities of Alpine Meadows, Donner Lake, Donner Summit, Lahontan, Martis Valley, North Shore Lake Tahoe, Northstar, Squaw Valley, Tahoe City, Tahoe Donner, Truckee, and the West Shore of Lake Tahoe. Sales data in the adjoining chart includes condominiums in these communities.

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