Median home price in the Bay Area soars to $910,350: California Association of Realtors
FILE-ART - Homes in San Francisco.
The median home price in the Bay Area soared to $910,350 in November, a 12.5 percent increase over the previous year, according to a new analysis by the California Association of Realtors.
The Bay Area “continues to reflect dire market conditions of tight supply and low affordability,” the report said, even though home sales were down overall in California, including in the Bay Area.
Here’s what happened in the remaining Bay Area counties:
- Prices rose 27 percent year-over-year to $1,282,500 in Santa Clara County.
- Prices rose 22.1 percent to $1,486,000 in San Mateo County.
- Prices rose 10.3 percent to $1,500,000 in San Francisco
- Prices rose 10 percent to $880,000 in Alameda County
- Prices rose 8.1 percent to $615,000 in Contra Costa County, where a red-tagged home in Lafayette was listed at $850,000 earlier this year. It's currently in contract, the Realtor said on Tuesday, and should be sold by the end of the year.
Among the nine counties, only in Solano County, where the median rose 7.9 percent to $410,000, did the median fall below the statewide figure of $546,820.