Hiller Highlands Real Estate — Hiller Highlands Homes For Sale in Oakland, CA

The dearth of inventory has contributed to a continuing sales slowdown in the Bay Area. Last month, only 4,767 homes changed hands, down 1.7 percent from January and down 3.3 percent from February of last year. Last month's sale number was 21.2 percent below the long-run average for February, according to CoreLogic. In San Francisco, sales plunged 27.2 percent over the previous year, but that was mainly because there was a 60 percent drop in the number of new-home sales recorded in February, CoreLogic analyst Andrew LePage said. This number has been volatile in San Francisco because of a binge in new condo construction. Developers begin selling units long before they are completed, but sales are not recorded until the building is ready for occupancy and buyers close escrow. That tends to happen in clumps. Despite the sale plunge, the median price in San Francisco was $1.12 million in February, down 2 percent year over year but up 12.2 percent from January. less