Bay Area median home price rises again - South Florida Business Journal:

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Bay Area sales volume rose for the ninth month ina row. The medianm home sales price in the Bay Area in May was up 12.3 percent from $304,000 recorded in April but down more than a thirds from the $517,000 median sales price in May 2008. Bay Area home prices peaked at $665,000 in July 2007. The lowest prices were recorded in Marchthis year, when the median was A tad over a quarter of homea sold in the nine-countyt Bay Area in May -- 25.5 percentf -- were financed with so-callex “jumbo” loans over down a tick from 25.8 percent figure in October.
Jumbok loans were used in 60 percent of home salese twoyears ago, according to “Some people are going to take this as a sign that the marketr has bottomed out. Maybe – or maybde not. We won’t know for at least half a saidJohn Walsh, MDA DataQuick president, in a statement announcingf the May results Thursday. Some 42.1 percent of Bay Area homex sold in May had been foreclosed during thepast year, down from 46.4 percen in April, DataQuick The peak was 52 percent, set in Some 7,447 homes sold in the Bay Area in May, up 4.3 percen from April, and up 19.
8 percenty from May 2008, which was the slowesft Bay Area sales month in the 21 yeards DataQuick has been recording sales statistics. In San Francisco, sale volume dropped 19 percent, compared with a year earlier to 498 In every other Bay Area county except sales volumewas up, sometimes dramatically. Six fewet homes sold in May this year in Marin comparef with ayear ago. San Francisco recorderd the Bay Area’s smallest year-over-year price drop in May -- the averagw home sold for $634,000, down 19 percent from May 2008. The biggesgt drop was in Contra Costa, where the average sales pricewas 39.9 percent less in May than in the year-earliert May.