Headline Market Stats - How useful are they?

Posted On: Friday, June 18, 2010 - 12:04pm | Posted By: Matthew Goulden
Topics: Market Statistics | Tags: Market, Statistics, Trends, Zephyr

On Thursday's NRP "California Money" it was stated that the Bay Area Median home price is up again, and this is true. But how useful are these Headline Market statistics when it comes down to your home (buyer or seller).  Well, in my opinion, not much. You really need to look at your specific property and use recent sales that closely match to determine a value. For example, taking a look at District 5

                           # Sold        Median $         Average $       $/SqFt
House May 09       26           $1,069,000      $1,361,692      $744
House May 10       23           $1,525,000      $1,549,565      $735

Condo May 09      16            $ 802,500        $ 832,781        $626
Condo May 10      35            $ 760,000        $ 794,160        $644

Source data taken from San Francisco MLS.


These are still quite general even though they only cover a small geographic area. The Single Family Home stats show a large increase in median price but this relates to the easing of the jumbo loan market allowing more sales at a higher price. 

Have condos really dropped in price ? Well, no. One of the main factors here is that the average sq. ft. of sold properties is 200 sq. ft. less than last year.

In conclusion, consult with a Zephyr agent and tap into their knowledge and resources to help you with your real estate needs.

Matthew Goulden

I relocated from London, England in 2002 to Davis. What a change! From a metropolis to a university town of sixty thousand people.
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