|Alameda County Home Sales Up 24%||| Print ||
|Wednesday, 21 November 2012 13:43|
Prices rise nearly 13% since October 2011
The number of homes sold in the Bay Area increased on a year-over-year basis for the 16th month in a row in October, while the median price rose for the sixth month, according to DataQuick, a real estate information service.
In Alameda County, a total of 1,618 new and resale homes were sold, an increase of 23.7 percent over October 2011.
During that same period, the median price in the county rose from $340,000 to $384,000, up nearly 13 percent.
“We’re still watching the market regain the ground it lost after 2007,” said John Walsh, DataQuick president. “It’s unclear exactly how much of today’s apparent price increase reflects actual growth, and how much reflects a change in market characteristics.
“The two factors obviously play into each other. We’re definitely seeing less distress and foreclosure activity, and more mid- to up-market sales.”
The typical monthly mortgage payment that Bay Area buyers committed themselves to paying last month was $1,472, up from $1,348 a year ago.