Click on the image accompanying each of our regions below for an expanded look at local real estate activity in July.
MARIN COUNTY
The median sales price in Marin County cooled just a bit from June to land at $1,056,000 in July. At 1.3, the MSI tied its one-year low.
Homes took an average of 38 days to sell — unchanged from June — with the average seller taking in 100.3 percent of the original price.
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
A slim supply of homes for sale helped push Napa County‘s
median sales price up to $639,000 in July, a yearly high. At the same,
the MSI fell to 2.2, the lowest level observed in the past 12 months.Homes sold in an average 71 days, almost identical to the pace of sales in May and June. Sellers received 95.7 percent of asking prices, a bit less than they did in the preceding month.
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
Single-family homes in San Francisco continue to command sizable premiums, selling for 112.3 percent of original price. Buyers took an average 27 days to seal a deal, two days faster than in June.
SAN FRANCISCO – CONDOMINIUMS
Condominiums in the city sold in an average 28 days in July, unchanged from June. Successful buyers paid 107 percent of asking prices, nearly identical to levels recorded one year earlier.
SILICON VALLEY
With a July median sales price of $2.7 million, Silicon Valley
remains the most expensive real estate market in which Pacific Union
operates. For the third straight month, the MSI in the region was 1.2,
tying a one-year low.On average, homes sold in 20 days – two days faster than in June – and for 103.1 percent of asking prices.
Defining Silicon Valley: Our real estate markets in the Silicon Valley region 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
For the past few months, the median sales price in our Mid-Peninsula
subregion has been climbing and reached $1,803,500 in July, a yearly
peak. Inventory conditions remain exceptionally tight, with the 0.8
months’ supply unchanged from June.Homes sold in exactly three weeks, one day longer than in the preceding month. Sellers received 105.7 percent of original prices, a bit less than they did earlier in the late spring and early summer.
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
At $545,000, the July median sales price in Sonoma County
was essentially unchanged from the previous two months, dropping a mere
$500 from June. The MSI shrank to 1.6, which ties one-year lows
recorded last December.The average Sonoma County buyer paid 97.8 percent of the original price, and properties sold in 60 days – both in line with numbers from last July.
Defining Sonoma County: Our real estate markets in Sonoma County include the cities of Cotati, Healdsburg, Penngrove, Petaluma, Rohnert Park, Santa Rosa, Sebastopol, and Windsor. Sales data in the adjoining chart includes all single-family homes and farms and ranches in Sonoma County.
SONOMA VALLEY
After several months of declines, the median sales price in our
Sonoma Valley region rebounded in July, rising to $712,500. Buyers
appeared to have a bit more negotiating room than in June, with the
average home selling for 96.3 percent of the asking price.Contrary to patterns observed across the rest of Bay Area, Sonoma Valley saw inventory upticks – albeit very slight ones – on both a monthly and yearly basis, with the MSI rising to 2.4. The pace of sales slowed dramatically from the previous month, with homes selling in an average 66 days in July.
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
The median sales price for a single-family home in our Lake Tahoe/Truckee
region increased for the second straight month to close July at
$599,000. At 6.6, the MSI was up a tiny bit from June but down
significantly from levels recorded last July.Buyers paid 86.5 percent of original prices in July, netting the largest discounts in the past 12 months. Single-family homes sold in an average 84 days, considerably slower than in June.
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
After a brisk pace of sales in June, the condominium market in Lake
Tahoe/Truckee slowed again in July, with properties taking an average
107 days to sell. July’s MSI was 8.8, nearly identical to what it was
one year earlier.The median sales price — $356,000 — was down on both a monthly and annual basis, with condominiums selling for 95.9 percent of asking prices.
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.
Article and images sourced from http://blog.pacificunion.com/pacific-unions-july-2015-real-estate-update/
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