Home sales increased by a whopping 17.5% in December 2010 over November in the 9 county Bay Area. Prices continued to feel the pressure and were down 1.3% from the previous year and month with the median price being $375,000. Lower end home sales dominated the over 7,000 homes that changed hands. Some of the increase in sales activity is attributed to the recent increase in interest rates, pushing on the fence buyers into action.
In the Alameda county home sales dropped 2.3% from a year ago and the median price fell by 3.6% to $347,000.
Foreclosure home sales in the Bay Area accounted for just over 30% in December. Foreclosure sales have been continuing to increase as a percentage of total sales in the recent months.
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