Alameda County Home Prices Up 30.5 Percent | Print |  E-mail
Thursday, 21 February 2013 13:52

Turnaround trends continued apace in the Bay Area housing market last month with the strongest January sales in six years and the tenth straight year-over-year increase in the median sale price, according to DataQuick, a real estate information service.


A total of 1,196 new and resale houses and condos were sold in Alameda county last month, up 9 percent from January a year ago. (Because of late data availability, sales were estimated in Alameda County.)


The median price paid for an Alameda County home in the same 12-month period rose by 30.5 percent, from $295,000 to $385,000. In the nine-county Bay Area, only Santa Clara County had a bigger increase at 31.6 percent.


“When we look carefully at underlying trends, it’s obvious that the market is still far from normal,” said John Walsh, DataQuick president. “The mortgage market is still dysfunctional. Relative sales rates between categories are lopsided. That said, the market imbalances are moving toward normalcy, with baby steps.”


Foreclosure resales – homes that had been foreclosed on in the prior 12 months – accounted for 14.4 percent of resales in January, down from 27.2 percent a year ago. Foreclosure resales peaked at 52.0 percent in February 2009.

 

 


 

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