Bay Area Median Value Decline for March 2009

According to MDA DataQuick, the median price paid for all new and resale houses and condos combined in the Bay Area fell to $295,000 in February 2009. That was down 1.7 percent from $300,000 in January and down a record 46.2 percent from $548,000 a year ago.

In the East Bay, Alameda County’s median value was $29,000, a 29.0 percent decline from February 2008. The Contra Costa County median home sale value in January 2009 was $216,500, a 51.9 percent decline from February 2008 – due in part to foreclosure-related sales. In February, Contra Costa County continued to post the highest sales volume and the steepest annual decline in median sale prices throughout the Bay Area.

Source: East Bay Economic Development Alliance