Bay Area Home Prices Reach New Highs and Continued Growth is Expected

Home Prices Reach New Highs

What a year thus far!! Bay Area home prices keep climbing, and new April figures reflect that trend. For the first time in nearly 5 years, the median price for a Bay Area home surpassed the half-million-dollar mark, clocking in at $510,000 last month, according to a DataQuick report. That number was up a whopping 31% from $390,000 a year earlier.

For the first time in nearly five years, the median price for a Bay Area home surpassed the half-million-dollar mark, clocking in at $510,000 last month, according to a DataQuick report.

That number was up a whopping 31 percent from $390,000 a year earlier, the San Diego-based real estate information firm said.

“There’s somewhat of a perfect storm here, statistically speaking,” DataQuick President John Walsh said in a statement. “The pent-up demand, the economy, interest rates, investor buying. Everything is in alignment right now, but that won’t always be the case.”

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