Northern California home sales down in April

May 16, 2011 12:25:35 PM PDT
A real estate tracking firm says home sales in the San Francisco Bay area fell to a three-year low in April.

San Diego-based DataQuick reports Monday that the region's median sale price also dropped year-over-year for the seventh consecutive month.

DataQuick says 6,789 new and resale houses and condos were sold last month in the nine-county area, a drop of 3.7 percent from March and 3.1 percent from April 2010. The total was the lowest for an April since 2008.

The median price last month was $360,000, the same as in March but down 2.7 percent from $370,000 in April 2010.

On the positive side, DataQuick says the portion of homes bought with adjustable-rate and jumbo loans rose, and the share of sales involving foreclosures, investors and cash buyers fell.