Silicon Valley: Home prices up, sales down (Median Price: $733,000)

[Bush_Eats_Beef]

Silicon Valley/San Jose Business Journal - 2:11 PM PDT Tuesday
Home prices up, sales down in region

http://sanjose.bizjournals.com/sanjose/stories/2005/10/24/daily16.html?jst=b_ln_hl

The median price of homes in the San Jose region continued to post double digit jumps despite a drop in sales in September, according to the California Association of Realtors.

The median price of a home in the Realtors' Santa Clara region was up 16.3 percent to $733,000, compared to September 2004. Sales were down 9.1 percent. The median price rose at the same rate in Santa Cruz county to $750,000, while sales dropped 15.2 percent. In the Monterey region, the median price shot up 13.4 percent to $712,800 as sales dropped 4.8 percent.

In the Bay Area, the price was up 10.5 percent as sales fell 8.5 percent.

Statewide, the median price hit $544,000 in September, up 17 percent from a year ago. Sales increased across the state almost 4 percent compared to the same month a year ago. Sales in the state totaled 650,800 in September 2005 compared to 626,000 recorded in September 2004.