SFCED | San Francisco Center for Economic Development


Bay Area Home Sales Fall, but Prices Rise

While Bay Area home sales fell and prices rose in October, October was overall a quiet, stable month. Furthermore, none of the data available since the election suggests that election results had any significant impact on local real estate.

Bay Area homes sales fall but prices rise

 

The median price for all Bay Area homes sold was $675,000, up 3.8 percent from September but down 4.9 percent from June. 7,505 homes were sold in the Bay Area in October, the lowest amount of October sales in five years. Real estate activity is more cautious after Trump’s election than it was in November 2015, but loan agents say they have not had very many deals fall through since the election.

Real estate in the Bay Area continues to be on the pricier side, and prices rose slightly in October. However, despite dismay over a Bay Area housing bubble or fears that Donald Trump’s election would cause real estate markets to tank, the SF real estate market appears to be quite stable.

Read more: San Francisco Chronicle Bay Area home sales fall, but prices rise