“In the Bay Area, the [California Association of Realtors] said sales volume was down 9.8 percent from last year, while the median price was $841,660, up 6.9 percent from $787,540 last July.”
–Home sales still weak in California and throughout the country [sfgate]
I’ve long stated that there is no shortage of capital waiting to buy homes in the bay area and that the market adjustments will be hard to see here through prices. But I would venture to bet that buyers on the whole got a lot more “finishes” for their money and that the number of stale-fish properties lagging is increasing.