Compass’ November 2018 Real Estate Update
Five Bay Area regions posted median sales price declines in November from one year earlier, while Silicon Valley was the only one to see a double-digit-percent annual gain. Marin, Sonoma, and Contra Costa counties, along with the Mid-Peninsula, enjoyed significant year-over-year inventory improvements.
Click on the image accompanying each of our regions below for an expanded look at local real estate activity in November.
CONTRA COSTA COUNTY
The number of homes for sale in Contra Costa County grew by nearly 17 percent from November 2017. Perhaps because of the supply gain, the median sales price relaxed by 4.6 percent year over year, ending the month at $1,192,500.
Click the image to the right to see these and other Contra Costa County market statistics for November.
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
East Bay homes sold in an average of 22 days in November, faster than they did anywhere else in the Bay Area. Homes in the region continued to command the largest premiums, fetching 111.9 percent of original price, slightly less than at the same time last year.
Click the image to the right to see these and other East Bay market statistics for November.
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
The median sales price in Marin County was $1,150,444 in November, an annual decline of 8.6 percent. There were nearly 500 single-family homes on the market, up by 19.6 percent on a yearly basis.
Click the image to the right to see these and other Marin County market statistics for November.
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
Napa County‘s $693,500 median sales price was down from October but up by 1.7 percent on an annual basis. Buyers received 94.6 percent of original price, nearly identical to numbers recorded at the same time last year.
Click the image to the right to see these and other Napa County market statistics for November.
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
The inventory of single-family homes in San Francisco improved from the previous November, rising by 12.9 percent. The median sales price ended the month at $1,442,500, down by 3.5 percent year over year and the lowest since January.
Click the image to the right to see these and other San Francisco single-family home market statistics for November.
SAN FRANCISCO — CONDOMINIUMS
As with single-family homes, San Francisco condominium prices relaxed on an annual basis, falling by 4.2 percent to $1,200,000. Units sold in an average of 36 days, similar to the pace of sales recorded at the same time last year.
Click the image to the right to see these and other San Francisco condominium market statistics for November.
SILICON VALLEY
Silicon Valley remains the most expensive Bay Area region in which Compass operates, with a November median sales price of $3,441,000. Homes commanded an average of $1,478 per square foot, also the most in the Bay Area.
Click the image to the right to see these and other Silicon Valley market statistics for November.
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
The Mid-Peninsula got a strong inventory boost from November 2017, with the number of homes on the market up by 55 percent. For the first time in a year, buyers received slight discounts, with homes selling for 98.9 percent of original price.
Click the image to the right to see these and other Mid-Peninsula market statistics for November.
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
Sonoma County‘s median sales price closed out November at $615,000, a decrease of 7.5 percent on an annual basis and the lowest in the past year. There were more than 1,500 properties on the market last month, up by 28.3 percent from November 2017.
Click the image to the right to see these and other Sonoma County market statistics for November.
Defining Sonoma County: Sales data in the adjoining chart includes all single-family homes and farms and ranches in Sonoma County.
SONOMA VALLEY
The median home sales price in Sonoma Valley was $784,500 in November, up by nearly 10 percent from the same time last year. Buyers paid $645 per square foot, an annual gain of 20.6 percent.
Click the image to the right to see these and other Sonoma Valley market statistics for November.
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
Single-family home prices in the Lake Tahoe/Truckee region ended November at $740,000, down substantially from October but up by 4.2 percent year over year. Sellers took home 92.6 percent of original price, nearly identical to what they received at the same time last year.
Click the image to the right to see these and other Lake Tahoe/Truckee single-family home market statistics for November.
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
As with single-family homes in the region, the median price for condominiums in the Lake Tahoe area saw modest annual growth, rising by 3.2 percent to $485,000. Inventory conditions were virtually identical to levels recorded in November 2017.
Click the image to the right to see these and other Lake Tahoe/Truckee condominium market statistics for November.
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.