East Bay Home Sales July 2013

East Bay Real Estate Trends & Stats

According to DataQuick, the number of homes sold in the Bay Area jumped last month to the highest level for a July since 2005 and the highest level for any month in almost seven years. Amid favorable market conditions, the burst of activity reflects pent-up demand meeting an increasing supply of homes for sale.

Distressed properties continue to decline as does their impact on home values in most East Bay neighborhoods. Last month distressed property sales – the combination of foreclosure resales and “short sales” – made up about 14.8 percent of the resale market. That was down from about 17.0 percent in June and down from about 38.9 percent a year ago.

  Sales Volume Median Price
  Jul-12 Jul-13 % Chng Jul-12 Jul-13 % Chng
Alameda 1717 1872 9.0% $385,000 $520,000 35.1%
Contra Costa 1718 1799 4.7% $308,000 $440,000 42.9%
Bay Area 8241 9339 13.3% $421,000 $562,000 33.5%

Source: DataQuick, www.DQNews.com

 Home sales improved in July in most markets over 2012 levels, but shortage of inventory continues to keep market activity well below norms. Higher priced homes are seeing more gains than lower priced homes as a result of dwindling supplies of foreclosures.

Read – Tale of Two Markets – a look at current split in California real estate market.

Email Craig if you would like to know more about buying or selling a home or condo in Danville, Alamo or San Ramon CA (925) 984-4910

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