Saw some interesting numbers today. The Data Quick numbers came out for August. They basically indicated that the Bay Area is going to cease to exist. Apparently, we are all going to get sucked down a rather large submerged drain. A gigantic rubber stopper is located in the silt about 600 yards to the northeast, off the coast of Treasure Island. A strategic command unit of trained bear underwater demolition aquanauts is standing by, ready to pull the plug at a moment’s notice.
Just kidding. But take a look, and check out Contra Costa County in particular. We’ve all been wondering about the bottom. Well, CoCo saw a big spike in sales YoY, but got really slammed in median. That looks like it really could be bottom.
Guess what? Here in SF we saw the same thing in D10. This year over last, more people bought in 10 and for cheaper.
In fact, in areas 10 and worst of 3 there were four more sales this year than last, at 10% cheaper.
Areas 10 alone had four more sales this year, 42 over 38, and cost 423 a foot as opposed to 515 last year. Average sales were 559K this year, 718 last. (Apologies to those who would prefer median over average, and no I didn’t look up the tax or permit records to see who did or did not grab square footage in various basements and garages and attics.)
Anyway, it isn’t as dramatic as CoCo, not by a longshot. But when was it ever? There were more D 10 sales this August than last? For 18% cheaper?
–Kenneth Kohlmyer a k a der fluj
3 thoughts on “The “have we hit bottom?” thing.”
Just want to declare that I locked down a $700,000 mortgage this past Tuesday for 5.875% for a 30-yr fixed PMI loan! And, bought a crap load of financial stocks yesterday morning. GO AMERICA!
Let us take advantage of people’s fears, and ride gov’t bailouts. There are those who do, and those who do nothing and blog!
I refuse to become a 42 year old renter!
Good for you, unless you are the guy who bought the place I wanted. Oh well, I’ll find another. I’m still waiting for the fixers to slide faster than the better places.
I should mention that this is what the MLS shows, and for SFRs. (Ten and 3 are mostly composed of SFRs.) I looked at something else just now. There were 201 SFR sales in August. Forty two of those were in D 10.