August Bay Area Home Sales Highest in 6 Years

From the Pacific Union blog--read the whole article at  http://bit.ly/OAZUXg

The Bay Area’s red-hot real estate market continues to set records, with August home sales at a six-year high.

The nine counties making up the Bay Area posted 8,579 home sales in August, up 1.4% from July and 14.2% from a year ago, for the best August since 2006.

Low mortgage rates, an improving economy, and increasing demand in mid- to move-up market segments helped spur August’s blistering pace.

Sales spiked 32.2 percent, year over year, in Napa County; 29.2 percent in Marin County; 29.1 percent in San Francisco; 22 percent in Alameda County; 19.3 percent in Sonoma County; 16.5 percent in Solano County; 9.3 percent in Santa Clara County; 5.6 percent in San Mateo County; and 4.6 percent in Contra Costa County.

The median sales price also rose across the Bay Area, from 2.3 percent in Marin County to 13.2 percent in San Francisco.