The OCT sales numbers are in, but the data reinforces what we already know: San Francisco is the most expensive County in the Bay Area when purchasing real estate.
The median price paid for a Bay Area home in OCT was $601k. That was down 0.5% from $604k in SEPT, and up 11.3% from $539,750 in OCT 2013. Price-wise, the strongest county last month was San Francisco, where the median rebounded to $999,250, just shy of the record $1m mark it hit in June. The median had been declining every month since June, dropping to $938k in September before climbing 6.5% in October.
So what does it all mean? Appreciation is slowing and all cash deals are tapering off. Keep in mind that this is looks to me like “seasonality” in the marketplace.