Bay Area Median Home Prices Up 4.2% in April

Bay Area home sales delivered some good news in April. The median home prices rose compared with the previous month for the first time since October 2007, according to San Francisco Chronicle.

From SFG: While home prices plunged compared with the same time last year, the median sales price for existing homes in the nine-county region inched up 4.2 percent in April compared with March, according to MDA DataQuick…
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The median sales price for existing homes in the nine-county region was $307,434, DataQuick said. That was down 42 percent from $530,000 a year ago, but slightly better than March’s median of $295,000. A total of 5,510 existing homes changed hands in April, compared with 4,301 a year ago and 4,808 in March.

While the median is the most appropriate measure of overall housing market activity, a one month-increase in the median doesn’t necessarily suggest that depreciation has slowed.

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