For all you real estate data wonks and renters who like to feel smug: the median price of homes sold in the nine-county Bay Area is down 41% over last year, to $304,000. This also marks a pretty steep fall from the peak median price of July 2007 which was $665,000.
Median price figures are not the clearest indicators, though, because they only reflect on properties currently on the market to be sold. In shitty markets like this one, owners in high-end properties tend not to sell, thereby skewing median prices down due to unusually low numbers of sales at the high end. This is coupled with averaging in the worst market in the region, Solano County, where a rock bottom median of $180,000 is causing an uptick in sales, with people scooping up low-priced homes fast, often as investment properties. The median price in San Francisco is still $628,500, down 16% over last year. See all the county figures after the jump, and read DataQuick's analysis here.