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DataQuick finds increase in sales of high-end homes in 2010

 · Jul 6th 2010 6:20PM. In the San Francisco Bay Area, real estate sales were up in May, thanks to the increase in home purchases due to the tax credit rush. According to DQ News, sales for median to high end neighborhoods rose, helping take the median price for homes north of $400,000 for the Bay Area — the first time in 21 months.

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 · San Diego-based MDA DataQuick said in a report released Thursday that the increase was due to a dip in foreclosures and an increase in sales within high-end markets. The firm said the median for the nine-county bay area increased to $354,000 from $295,000 in February 2009.

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But a study for The Wall Street Journal by MDA DataQuick, a real-estate data provider, found that in some areas of the country, sales of homes over $2 million in the first quarter were actually on par with the levels of 2005, the peak year for existing-home sales volume nationwide.

San Jose and Seattle each had less than a one-month supply of homes. Every record in market speed and competition that was set in May was broken again in June. The typical home that sold in June went under contract in 36 days, one day faster than in May, setting a new record-fast pace for home sales.

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