Sales and prices of homes in the San Francisco Bay area appear to be stabilizing, with fewer foreclosures and more activity in pricier areas than a year ago, a tracking firm said Thursday.
San Diego-based MDA DataQuick said the median price for a home in the Bay area last month was $387,000, down slightly from October but up 10.6 percent from $350,000 in November 2008.
Sales also were up. A total of 6,878 new and resale houses and condos closed escrow in the nine-county Bay area last month, up 19.5 percent from 5,756 sales in November 2008.
DataQuick's survey covered Alameda, Contra Costa, Marin, Napa, Santa Clara, San Francisco, San Mateo, Solano and Sonoma counties.
Sales in the higher-cost counties — Marin, San Francisco, Santa Clara and San Mateo — represented 42.3 percent of November sales, up from 35 percent a year ago, when sales were concentrated in the lower-cost inland areas steeped in foreclosures, DataQuick said.
"The latest stats show just how much the Bay-area market has changed in a year," said John Walsh, DataQuick's president. "Financial distress is still a problem with many borrowers, but for now, cheap foreclosures have lost their leading role in this housing drama."
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