California Home Sale Activity in Bay Area Counties and Markets

Pacific Appraisers February 20, 2018

North Bay
Marin County: had 212 recorded homes sold in 2017. This county had experienced a 10.8% change in the median value of home sales, increasing from $857,500 in December 2016 to $950,000 in December 2017
Sonoma County: had 432 recorded homes sold in 2017. This county had experienced a 16.9% change in the median value of home sales, increasing from $526,250 in December 2016 to $615,000 in December 2017
Napa County: had 129 recorded homes sold in 2017. This county had experienced a 12.9% change in the median value of home sales, increasing from $560,000 in December 2016 to $632,500 in December 2017
Solano County : had 612 recorded homes sold in 2017. This county had experienced a 5.1% change in the median value of home sales, increasing from $390,000 in December 2016 to $410,000 in December 2017
East Bay
Alameda County: had 1,472 recorded homes sold in 2017. This county had experienced a 12.9% change in the median value of home sales, increasing from $675,000 in December 2016 to $762,000 in December 2017.
Contra Costa County: had 1,360 recorded homes sold in 2017.This county had experienced a 9.1% change in the median value of home sales, increasing from $504,250 in December 2016 to $550,000 in December 2017.
San Francisco
San Francisco County: had 430 recorded homes sold in 2017.This county had experienced a 6.6% change in the median value of home sales, increasing from $1,100,500 in December 2016 to $1,173,000 in December 2017
Peninsula
San Mateo County: had 563 recorded homes sold in 2017. This county had experienced a 19.1% change in the median value of home sales, increasing from $1,008,000 in December 2016 to $1,200,250 in December 2017.
Silicon Valley
Santa Clara County: had 1,520 recorded homes sold in 2017. This county had experienced a 8.9% change in the median value of home sales, increasing from $805,000 in December 2016 to $658,00,000 in December 2017.
Monterey
Santa Cruz County: had 218 recorded homes sold in 2017. This county had experienced a 8.9% change in the median value of home sales, increasing from $604,500 in December 2016 to $658,000 in December 2017.
San Benito County: had 75 recorded homes sold in 2017. This county had experienced a 8.2% change in the median value of home sales, increasing from $475,000 in December 2016 to $513,000 in December 2017.
Monterey County: had 315 recorded homes sold in 2017. This county had experienced a 14.3% change in the median value of home sales, increasing from $490,000 in December 2016 to $560,000 in December 2017.

To see values throughout California click here.

20 Hottest Housing Markets In the U.S

Pacific Appraisers February 7, 2018

The top three hottest housing markets in the U.S for January are located here in the Bay Area with San Francisco topping the list followed closely by San jose and Vallejo. Other Bay Area markets that made the top of the list this month were Santa Rosa ranked 7th, and Santa Cruz ranked 18 which has moved up 9 spots since last month. A total 13 out of the 20 hottest housing markets in the U.S for January are located in California.

Placement on the list was based on number of listing views in each market and the number of days homes spend on the market. Recent movements and changes on the list can be attributed to,  “A strong stock market run, new tax laws, and a government shutdown have given buyers and sellers plenty to digest as they come to terms with the new economic landscape and their personal situation,” said Javier Vivas, director of economic research at Realtor.com. According to data released with the list of hottest housing markets, approximately 365,000 new listings are expected to hit the market in February, showing a 3 percent increase over last year. Click here to go to full article.

Surge in US Home Sales to foreigners

Pacific Appraisers July 28, 2017

There is a new trend emerging. Foreign investors have increased the percentage of residential real estate purchases by 49% from the previous year. See full article here.

As appraisers we have seen the trend of high investor purchases over the last 8 years but did not have great data as to what extent foreign investors played in this role. It is clear that over the last year they have played a much bigger role than in previous years.

Median Home Values for California

Pacific Appraisers April 11, 2017

Zillow came out with their median home values over the last year as well as their prediction for what home values will be over the next year. See below:

The median home value in California is $490,100. California home values have gone up 6.9% over the past year and Zillow predicts they will rise 1.5% within the next year. The median list price per square foot in California is $281. The median price of homes currently listed in California is $473,900. The median rent price in California is $2,500. Click here to read the full zillow article.

Santa Cruz Market Trends Report – April 2015

Pacific Appraisers April 7, 2015

The median home price in Santa Cruz County was $775,000 in March of 2015. This us up a whopping 15.7% from a year earlier. The number of sales in March were 123 which is 7% higher than a year earlier. There are currently 255 active listings which is down 35.6% from a year earlier (where is that inventory of homes????). We are still in a sellers market and until we get more inventory it should stay that way.

DQ News Reports: Bay Area Home Sales Slowest in Six Years – December 16th, 2014

Pacific Appraisers December 16, 2014

Corelogic released its November San Francisco Bay Area housing market report today. Home sales dropped to the lowest level for the month of November since 2008, the result of a limited number of homes for sale, cautious buyers, a challenging mortgage market and a quirk of the calendar that resulted in a relatively low number days for recording deals. The single-digit, year-over-year rise in the median sale price was the lowest since May 2012. See below for a chart of the # of homes sold and median prices per county.

Total November Home Sales
in the San Francisco Bay Area counties

Homes Sold Median Sale Prices
All homes Nov-13 Nov-14 Percent Change Nov-13 Nov-14 Percent Change
Alameda 1,469 1,246 -15.20% $518,500 $585,000 12.80%
Contra Costa 1,250 1,145 -8.40% $410,000 $435,500 6.20%
Marin 287 265 -7.70% $741,250 $870,000 17.40%
Napa 110 98 -10.90% $455,000 $562,750 23.70%
Santa Clara 1,517 1,450 -4.40% $667,500 $715,000 7.10%
San Francisco 544 434 -20.20% $843,000 $1,072,500 27.20%
San Mateo 581 499 -14.10% $700,000 $818,500 16.90%
Solano 430 433 0.70% $275,000 $305,250 11.00%
Sonoma 471 433 -8.10% $418,750 $447,250 6.80%
Bay Area 6,659 6,003 -9.90% $550,000 $601,000 9.30%

Click her to read the full article.

Market Update – Santa Cruz County – October 2014

Pacific Appraisers November 12, 2014

Single Family Residential Report

Values for single-family homes in Santa Cruz County continue to rise, but the number of active and pendings reached a four-year high last month.  The following is a snap shot of recent market statistics covering the single family housing market in Santa Cruz County.  The analysis presents a broad-brush overview of market indicators such as median sales price, month’s of inventory, and sales volume.

Top Chart

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Residential Market Update for Salinas

Pacific Appraisers October 16, 2014

Here is Pacific Appraisers Real Estate Market Update for the Salinas residential market:

19 active listings under $250k
121 active listings between $250k- $500K
47 active listings between $500-$750K
20 active listings between $750k-$1,000,000
16 active listings over $1 million

The Salinas market is very active in the $250,000 to $500,000 range. The number of homes for sale under $250,000 is about the same as the number of homes for sale between $750,000 to $1 million. The median home value for Salinas rose 21.38% from August of 2013 to August of 2014. The current median home value is $352,000.

In summary, the overall single family market has been strong over the last 12 months and the Salinas market is not showing any signs of slowing. It will be interesting to see what happens over the next several month. If you have any questions, please feel free to call us anytime at (831)607-3800.

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