San Francisco Bay Area Home Prices and Sales Dropped in July from 2010

San Francisco real estateBay Area homes saw median sale prices fall in July compared with a year ago, as economic jitters kept potential buyers, especially at the high end, out of the market, according to a real estate report released Tuesday.

Throughout the nine counties, the median paid for an existing single-family house in July was $400,000, down 7.5 percent from the same month last year, according to DataQuick, a San Diego real estate research firm. A total of 5,096 homes changed hands in the month, virtually the same as in July 2010.

“More people became more concerned about the future and took a step back to the housing sidelines as we saw an increasing number of negative reports on the economy and jobs, and people fretted about the outcomes of the debt-ceiling debate in Washington, D.C.,” said Andrew LePage, a DataQuick analyst.

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