Bay Area Statistics December 2010
The Bay Area ended 2010 with prices flat to down a bit and sales slow. Distress sales and bargain hunting are still trends, while move-up buying is on hold. Some of the specific numbers include:
- The total number of homes sold was 7,178, which was down 8.3% from December 2009, but up 17.5% from
November 2010. The up-tick from November to December is typical.
-The median price was $375,000, which was down 1.3% from both November 2010 and December 2009.
- 33.2% of all sales were for homes of $500,000 or more, which was down from a revised 36.3% in November 2010.
- Foreclosure resales rose for the fifth consecutive month to 30.8% of the market.
- FHA loans accounted for 23.7% of all home purchase mortgages.
- Sales of higher-cost homes are still affected as ARMs and jumbo loans are much more difficult to obtain. Only 9.1% of home purchase loans were ARMs in December 2010, while jumbo loans accounted for 31.3% of purchase lending.
These are both down from November 2010.
- Absentee buyers purchased 18.7% of the homes sold.
- Buyers who appeared to have paid all cash accounted for 24.3% of all sales.