Tag Archives: Bay area home prices down 47% from peak

The median home sales price in the San Francisco Bay area plummeted 47% in the past four years, hitting $351,500 in December, compared to $665,000 in the middle of 2007, DataQuick said. The steep drop shows how far prices have fallen in a metro area where sellers used to record high profits by offloading real estate. DataQuick attributes half of the peak-to-trough drop to declining home values, while the rest is tied to a shift in the sales mix. The area saw 7,494 home sales in December, DataQuick said. That […]