Bay Area home sales are continuing to rise, with the median sale price the highest it has been in nearly four years, according to a real estate report released Wednesday.
In the nine-county Bay Area, 8,461 homes were sold last month — a 22.9 percent increase from the same time last year, according to a report by the real estate information service DataQuick. The average figure for July, based on data recorded since 1988, is 9,371 home sales.
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Homeowners in San Francisco may have had to face grueling competition when buying their lot, but at least they know that demand and value of their investment will remain relatively stable during a down economy.That can’t be said for homeowners in Las Vegas, where home prices plummeted 26.6 percent between October last year and the same month this year, according to a recent Standard & Poor’s report.
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