Compass’ October 2018 Real Estate Update
The median sales price rose from October 2017 in most Northern California regions in which Compass does business, except for Sonoma Valley, where it was down by almost 10 percent. Elsewhere, annual appreciation ranged from 0.3 percent in Sonoma County to more than 25 percent for single-family homes in Lake Tahoe.
Click on the image accompanying each of our regions below for an expanded look at local real estate activity in October.
CONTRA COSTA COUNTY
Contra Costa County got a significant supply boost year over year, with about 13 percent more homes for sale than in October 2017. The median sales price climbed to $1,275,000, an annual gain of 6.2 percent.
Click the image to the right to see these and other Contra Costa County market statistics for October.
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
Home sales in the East Bay continued their brisk pace in October, with buyers making deals in an average of 20 days, two days faster than at the same time last year. Single-family residences in the region commanded by far the largest premiums in the Bay Area, at 114.9 percent of original price.
Click the image to the right to see these and other East Bay market statistics for October.
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
Home sellers in Marin County enjoyed double-digit-percent annual gains in October, as the median sales price rose by 16.0 percent to $1,450,000. Buyers paid 98.3 percent of original price, almost exactly the same as they did one year earlier.
Click the image to the right to see these and other Marin County market statistics for October.
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 October median sales price of $709,500 was up by 9.2 percent year over year. Homes sold in an average of 69 days, about two weeks faster than they did in October 2017.
Click the image to the right to see these and other Napa County market statistics for October.
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
San Francisco single-family home shoppers had more properties to choose from than they did last October, as inventory increased by 14.0 percent. The median sales price was $1,600,000, an annual gain of 1.6 percent.
Click the image to the right to see these and other San Francisco single-family home market statistics for October.
SAN FRANCISCO — CONDOMINIUMS
Annual appreciation for San Francisco condominiums was nearly identical to single-family homes, with the $1,255,000 median sales price up by 2.0 percent. Units sold in an average of 27 days, the fastest pace of sales recorded since the spring.
Click the image to the right to see these and other San Francisco condominium market statistics for October.
SILICON VALLEY
The median sales price in Compass’ Silicon Valley region has been higher than $3 million for the past year and ended October at $3,300,000, up by 8.2 percent year over year. Buyers took an average of 21 days to close a deal, identical to the pace of sales recorded one year earlier.
Click the image to the right to see these and other Silicon Valley market statistics for October.
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 number of Mid-Peninsula homes for sale jumped in October compared with one year earlier, with inventory up by 46.4 percent. The $1,976,500 median sales price rose by nearly 20 percent from October 2017.
Click the image to the right to see these and other Mid-Peninsula market statistics for October.
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 $655,000, October’s median sales price for a Sonoma County property was in the same general range as it has been for the past year. Buyers had 16.5 percent more homes to choose from than they did at the same time in 2017.
Click the image to the right to see these and other Sonoma County market statistics for October.
Defining Sonoma County: Sales data in the adjoining chart includes all single-family homes and farms and ranches in Sonoma County.
SONOMA VALLEY
Sonoma Valley was the only Bay Area region to post depreciation, with the $700,000 median property price down by about 10 percent from October 2017. Still, buyers paid 17.5 percent more per square foot than they did a year earlier: $637.
Click the image to the right to see these and other Sonoma Valley market statistics for October.
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 the Lake Tahoe/Truckee region was $885,000 in October, an annual gain of 25.5 percent and the highest since April. Homes sold in an average of 72 days, identical to the pace of sales recorded 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 October.
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
The median $450,000 condominium price in the Lake Tahoe region also posted a double-digit-percent annual increase, up by 15.5 percent from October 2017. Units took an average of 135 days to find a buyer, the second slowest pace of sales recorded over the past year.
Click the image to the right to see these and other Lake Tahoe/Truckee condominium market statistics for October.
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.