Sales of foreclosed homes continue to drop as a percentage of overall volume as the Bay Area housing market recovers from its collapse five years ago. In November, the Bay Area recorded the most home sales for that month in six years.
The familiar trinity of cheap money, high demand and tight supply is driving the market, according to the San Francisco Chronicle. The median Bay Area sale price in November was $438,000, up 20 percent over 2011.
Foreclosure resales represented slightly more than 10 percent of the market, compared to 25 percent a year ago and 52 percent in 2009.
Here are October sales for Alameda.Alameda Home Sales, Oct. 2012Community Zip Code Number of Homes Sold Percent Change over Oct. 2011 Median Sale Price Percent Change over Oct. 2011 Highest Sale Price Price per Square Foot Percent Change over Oct. 2011 Alameda 94501 44 37.5% $561,500 30.9% $1,350,000 $403 23.4% Alameda 94502 17 70% $565,000 29.9% $1,300,000 $365 24.7% Source: DQNews