| S.F. Bay Area home prices shatter record |
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| 已发布 on 2003-04-24 23:00:31 EST |
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While the sales pace for Bay Area homes has eased back from the hectic levels of recent years, prices for the region as a whole have continued to increase, reaching a new peak in March, DataQuick Information Systems reported.
The median price paid for a Bay Area home was $419,000 last month. That was up 4 percent from $403,000 in February and up 10 percent from $381,000 for March last year, according to DataQuick.
While prices dipped on a year-over-year basis in late 2001 and early 2002, they started increasing again in April last year. The median hit $417,000 in July.
"The strength of the Bay Area market has taken most forecasters by surprise. While the shaky economy has kept some potential buyers out of the market, low mortgage interest rates and more demand than supply keep generating activity," said Marshall Prentice, DataQuick president.
A total of 8,818 new and resale houses and condos were sold in the nine-county region last month. That was up 31.5 percent from 6,704 for February and down 15.3 percent from 10,416 for March a year ago.
An increase from February to March is normal for the season. The sales count for March a year ago was unusually high, according to DataQuick.
DataQuick, a subsidiary of Vancouver-based MacDonald Dettwiler and Associates, monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts.
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