Economic conditions in September and October continued to nosedive and so did real estate sales in the Bay Area. Here's how much they were down in October compared to the previous year.
The Bay Area has just endured its lowest high season in more than a decade. reveals that not only were overall Bay Area real estate sales statistics bad for October, they were actually historically bad. Compass Chief Market Analyst Patrick Carlisle said that in the 11-county, greater Bay Area, this October had the lowest number of home sales for that month since 2007.
, also representing the worst October in city sales since 2011. The glut of sales last month occurred in the Sunset, Eureka Valley, Noe Valley and Excelsior and Portola neighborhoods. "The economy and housing market remain in a period of adjustment, causing many to be more cautious as they wait to see how things will settle out," Carlisle said."However, the next couple months, during the mid-winter slowdown, are typically the optimal time for buyers to aggressively negotiate the best prices."
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