Pacific Union’s April 2018 Real Estate Update
All Bay Area regions in which Pacific Union operates posted year-over-year median home price increases in April, except Napa County, which saw slight annual depreciation. Six regions saw double-digit percentage-point annual appreciation, led by Sonoma Valley, where prices grew by 39 percent.
Click on the image accompanying each of our regions below for an expanded look at local real estate activity in April.
CONTRA COSTA COUNTY
The median home sales price in Contra Costa County was $1,337,500 in April, up 7.0 percent on an annual basis and a one-year high. Inventory declined by 8.1 percent from April 2017, with homes selling in an average of 15 days, the fastest rate of sales in the Bay Area.
Click the image to the right to see these and other Contra Costa County market statistics for April.
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
As in Contra Costa County, home prices in the East Bay reached a yearly high in April, climbing to $1,260,000. Homes in the region continued to command the largest premiums in the Bay Area, an average of 117.5 percent of original price.
Click the image to the right to see these and other East Bay market statistics for April.
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
Marin County‘s median sales price rose to $1,395,000 last month, up by 2.8 percent from the previous April. There were 518 homes listed for sale during the month, an annual decline of 9.0 percent.
Click the image to the right to see these and other Marin County market statistics for April.
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 was the only Bay Area region to see the median sales price decline from April 2017, falling by 1.1 percent to $670,000. Buyers continue to receive slight discounts, with the average home selling for 96.1 percent of asking price.
Click the image to the right to see these and other Napa County market statistics for April.
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
While April’s median sales price for a single-family home in San Francisco was down from the previous two months, at $1,650,000, it grew by nearly 20 percent year over year. Homes sold for an average of 110.7 percent of original price, similar to premiums recorded over the previous 12 months.
Click the image to the right to see these and other San Francisco single-family home market statistics for April.
Defining San Francisco: Sales data in the adjoining chart includes single-family homes in San Francisco County.
SAN FRANCISCO – CONDOMINIUMS
The median sales price for a San Francisco condominium ended April at $1,250,000, an annual gain of 13.6 percent. The number of units for sale moved in the opposite direction, falling by 12.4 percent from April 2017.
Click the image to the right to see these and other San Francisco condominium market statistics for April.
Defining San Francisco: Sales data in the adjoining chart includes all condominiums in San Francisco County.
SILICON VALLEY
Silicon Valley continues to enjoy robust appreciation, with the median $3,500,000 sales price up by 18.5 percent year over year. Homes sold for an average of $1,475 per square foot, the highest in the Bay Area.
Click the image to the right to see these and other Silicon Valley market statistics for April.
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 median sales price in the Mid-Peninsula rose by 30.0 percent year over year, ending April at $2,250,000. The Mid-Peninsula was one of two Bay Area regions to post annual supply improvements, with inventory increasing by 3.6 percent.
Click the image to the right to see these and other Mid-Peninsula market statistics for April.
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 was $685,000 in April, unchanged from March but up 10.8 percent year over year. Homes sold in an average of 47 days, five days quicker 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 April.
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‘s median sales price rose by a whopping 39.2 percent on an annual basis to end April at $895,000. There were 148 properties for sale, a year-over-year decline of 14.5 percent.
Click the image to the right to see these and other Sonoma Valley market statistics for April.
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 $945,000 in April, a one-year high. At the same time, buyers continue to receive discounts, with the average home selling for 91.4 percent of original price.
Click the image to the right to see these and other Lake Tahoe/Truckee single-family home market statistics for April.
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, condominium price in Lake Tahoe reached a one-year peak in April, rising to $484,000. Units sold in an average of 82 days, 70 days quicker than they did at the same time last year.
Click the image to the right to see these and other Lake Tahoe/Truckee condominium market statistics for April.
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.