“Prices and volumes are down every month for Nov, Dec, and Jan. Here are dates, volumes, and prices from the Palo Alto Weekly for every sale in Atherton, East Palo Alto, Los Altos, Los Altos Hills, Menlo Park, Mountain View, Palo Alto, Portola Valley, Redwood City, Stanford, and Woodside, as reported by California REsource, which gets info from the County Recorder’s Office:

PA Weekly of 06 Nov 2004 has 78 sales, median price $851,000
PA Weekly of 03 Dec 2004 has 63 sales, median price $750,000
PA Weekly of 28 Jan 2005 has 57 sales, median price $720,000

Palo Alto 2003 median price was reported in the Palo Alto Weekly of 6 Oct 2004 on page 15 as $1.07 million. Counting 89 sales at random throughout 2004, the Palo Alto median was $830,000 in 2004, a loss of 18%.”

Bay Area Housing Crash Continues

“SAN FRANCISCO (MarketWatch) — Dominion Homes Inc. (DHOM) said its fourth-quarter profit dropped 89 percent on slow sales. The company also said it does not expect to be profitable for the first quarter, although it expects to be profitable for fiscal 2005, but with lower net income than in recent years. Fourth-quarter earnings fell to $1 million, or 12 cents a share, from $9.6 million, or $1.19 a share, a year ago. Revenue for the Dublin, Ohio-based home building company was $115.5 million vs. $166.3 million a year earlier.”

Dominion Homes Q4 profit falls on slow sales