Marin, Napa, Sonoma home prices slip in July as volume of deals rises
Home sales jumped in the North Bay in July from a year before, although median sale prices dropped slightly, according to real estate analytics firm CoreLogic.
Marin County saw 335 homes sold last month, compared with 290 in July 2018, a 15.5% increase. The median price, however, period slipped 3.6% over that period to $1.06 million from $1.10 million.
The report found that home sales in the San Francisco Bay Area last month were the lowest for July since 2011, when 7,014 homes sold. Sales have fallen on a year-over-year basis for the past 12 consecutive months.
“This July, Bay Area home sales once again fell below a year earlier, but the roughly 2% decline was the smallest for any month in the past year,” said Andrew LePage, a CoreLogic analyst, in a press release announcing the figures.
“The 4% year-over-year decline in the Bay Area’s median sale price this July reflects both a modest dip in home prices in some parts of the region as well as a change in market mix,” LePage said, referring to all nine Bay Area counties. “There was a subtle shift in market share away from mid- to high-end markets this July, including a lower share of sales in the new-home market, where prices tend to be higher.”
In Napa County, 149 homes were sold in July, compared with 129 a year before. Like Marin, that was a 15.5% annual increase. The median price declined 4.6% to $638,500 from $669,500.
Sonoma County had the region's smallest jump in sales and the least steep dip in median sale prices. Last month, 636 homes were sold, up 7.4% from 592 the previous July. The median price was down 2.2% during the same period, to $585,000 from $598,000.