Across the Bay Area sales slowed last month to the lowest levels since 2008 however prices rose on low inventory and increased competition from buyers. Looking at the nine Bay Area counties, prices increased by 11.4% when compared to February of 2016. The median price for a Bay Area home is now $675,000. Aggregated sales across the region totaled only 3,272 which represents a 21% decrease below the February average going back almost 30 years. Predictably, prices responded by moving up given the constant demand for housing set against the shrinking availability of homes for sale.
You can read the article here: Low Inventory equals higher housing prices across the Bay Area