Foreclosure activity dropped significantly in Sonoma County at the end of last year, but analysts weren’t sure whether it was due to some improvement in the housing market.
The Bay Area’s median home price slid 4 percent in October amid what analysts described as lackluster sales activity. The median price for all houses and condos dropped to $350,000 from $365,000 in September, according to real estate information service DataQuick of San Diego. The price was the lowest in eight months and down nearly 9 percent from a year ago.
Sonoma County home sales slowed in September in keeping with the traditional close of the summer buying season. Buyers purchased 380 single-family homes last month, down 19 percent from August, according to The Press Democrat monthly housing report compiled by Coldwell Banker manager Rick Laws. September sales were down only 2 percent from a year earlier.
Bay Area home sales rose in August, but some analysts worried that the region’s housing market was still “plagued by uncertainty.”
Sonoma County home sales rose last month to their highest level in nearly three years, as more owners who still had equity in their houses agreed to sell. In the last three years, these so-called “equity” sales have become a larger part of the county housing market, even as the number of foreclosures has significantly declined, according to The Press Democrat monthly housing report compiled by Coldwell Banker manager Rick Laws.
Distressed sales made up 86 percent of all houses sold in Lake County in June, according to the California Association of Realtors. That rate was up from 62 percent a year earlier and was the highest rate among among 21 select counties surveyed.
California real estate agents are applauding a new law that prevents all lenders from pursuing homeowners who sell their properties via a process known as a short sale.
June home sales and prices exceeded May’s results in the Bay Area, but still remained below the level set last year. Buyers last month purchased 7,998 new and resale houses and condos last month in the nine-county Bay Area, according to San Diego-based DataQuick. That was up nearly 15 percent [...]
The Bay Area recorded the lowest number of homes sales for the month of May in three years - and the third-lowest in at least 23 years. Included is a link to a story on The Press Democrat’s monthly housing report for May.
May home sales dropped to their lowest level in Sonoma County in four years, due primarily to a decrease in the sale of financially distressed properties. The county recorded 360 single-family homes sold last month, according to The Press Democrat monthly housing report compiled by Coldwell Banker manager Rick Laws. [...]