Bay Area Real Estate
A Compass Special Report
Angles on Appreciation & Comparative Values
We are always hesitant to make too much of a single month's or a few months' data: Short-term fluctuations in median sales prices and other market statistics are not uncommon and don't always give definitive perspective as to where the market is heading on a longer-term basis. Still, many of the changes seen over recent months are substantial - and none more so than the sudden plunge in year-over-year median price appreciation rates illustrated below: a number of counties plummeted into negative territory in November, and the others saw drastic declines.
Again: It is important not to make too much of short-term data. Indicators can also be somewhat schizophrenic at the beginning of a significant market transition - if that is what is occurring - as buyers, sellers and agents struggle to figure out a changing reality.