October 25, 2007

Median prices fall 17.7% in the Bay Area – or did they?

Home sales plunge in September
In the Bay Area – which, by the California Association of Realtors’ measure is made up of Alameda, Contra Costa, Marin, San Francisco, Santa Clara, San Mateo and Solano counties – sales of existing, stand-alone homes plunged 45.6 percent between September 2006 and September 2007, while the median sales price slid 5 percent to $702,240. September’s median was a whopping 17.7 percent below May’s peak of $853,910.

That sounds bad – but look, it includes Alameda, Contra Costa, and Solano. It also includes Gilroy and Morgan Hill.

Everyone knows those aren’t part of the Bay Area.

The Bay Area is defined as where the money is. It’s not a place, it’s a state of mind!

I wish the SF Gate would up their reporting standards and clarify this. Let’s talk about real, representative, Bay Area places like Palo Alto, Cupertino, and the San Francisco. Not places where they don’t have Pluto’s.

Sheesh.

Comments (4) -- Posted by: burbed @ 4:31 pm

4 Responses to “Median prices fall 17.7% in the Bay Area – or did they?”

  1. ex-sunnyvale-renter Says:

    You know, write a good, funny article about this Bay Area 2.0 thing, state of mind, etc plus maybe a mild plug for this page and you might get published in that rag.

  2. Pralay Says:

    Oh no! In last one year median price was the last defense for Realtors to show the home prices always go up. They intentionally ignored Case-Shiller Index. Now that median price is gone too.

  3. burbed Says:

    I prefer using the Cupertino-Saratoga Index.

  4. sonarrat Says:

    At least they didn’t include San Joaquin County – which is where those Manteca townhouses you posted about are.


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