The latest home sales report from the California Association of Realtors should be strikingly familiar to anyone following Bay Area real estate over the last few years: prices up, inventory down.
To be specific, the median price for a single-family home in the nine-county Bay Area was $856,200 in August – an annual increase of 10.2 percent.
Eight of the nine Bay Area counties saw home prices increase from August, 2016. Only Solano County had a flat appreciation.
Inventory from August 2016 was down in all nine counties.