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Thursday, April 17, 2008

But on the other hand, Bay Area is the strongest market in the state

A silver lining of sorts. Never mind that the Bay Area has also seen the median home price drop to its lowest levels on record (Note: records started in 1988.) See San Francisco Chronicle story here. The take-away message: Just like elsewhere in the U.S., the closer you are to the action (jobs), the better.

As has consistently been the case, several counties - notably those close to job centers and in affluent areas - were in better shape. In San Francisco, the median price inched up to $755,000, up 0.3 percent from last year - the only county where the median grew. Sales in San Francisco were down 20.6 percent versus last year, a modest drop compared to the 47.2 percent decline in Alameda County, for example. San Mateo and Marin counties saw their medians slip about 4 percent, compared with the double-digit declines of the six other counties.

2 comments:

Shopping in Marin said...

I want to buy the house in the photo. Where is it. And is it on MLS

Anonymous said...

Cascade Drive, the block toward the waterfall past Eugene. House has been empty for 12 years or so, a tree went through the roof and the owners moved out. A couple of years ago, another tree fell and took off part of the deck but the city contacted the owners and repairs were made. Neighborhood rumor is that the city was notified that teenagers were hanging out there so the owners did a hasty clean-up this summer but it's still empty and falling down. The owners removed their mailbox, lots of people have tried to buy the house over the years. Now that it's full of mold and rats, maybe it's a diamond in the rough. Good luck trying to buy it.