San Francisco Bay Area Home Sales And Prices Jump In May

San Francisco Bay Area Home Sales And Prices Jump In May

San Francisco Bay Area Home Sales And Prices Jump In May

San Francisco Bay Area Home Prices Up 7.5 Percent From A Year Earlier

Things continue to look up. Bay Area real estate prices that is.

The demand for more expensive properties lifted California home prices to a nearly two-year high in May as sales across all pricing categories showed healthy gains according to DataQuick.

Here in the San Francisco Bay area, the median sales price hit $400,000, up 7.5 percent from $372,000 a year earlier. The median still sits considerably below a peak of $665,000 reached in 2007 but up from $290,000 in March 2009.

Sales in the nine-county Bay area rose 26.1 percent from last year to 8,810, with the most significant gains in pricier categories. Sales of homes between $400,000 and $800,000 rocketed 26.2 percent, while homes below $300,000 rose just 12.5 percent.

Up until now, the lower end market, particularly foreclosed and short sale properties, have long been driving sales in California, but the latest figures show that all pricing categories draw more interest from buyers. The low interest rates and low inventory continue to fuel interest. Most experts don’t foresee this continued upswing for long. We expect a bumpy ride with additional short sales and foreclosures until at least 2015.

San Francisco Bay Area Home Sales And Prices Jump In May

San Francisco Bay Area Home Sales And Prices Jump In May

San Francisco Bay Area Home Sales And Prices Jump In May

San Francisco Bay Area Home Sales And Prices Jump In May

San Francisco Bay Area Home Sales And Prices Jump In May

San Francisco Bay Area Home Sales And Prices Jump In May

San Francisco Bay Area Home Sales And Prices Jump In May

San Francisco Bay Area Home Sales And Prices Jump In May

San Francisco Bay Area Home Sales And Prices Jump In May

San Francisco Bay Area Home Sales And Prices Jump In May

San Francisco Bay Area Home Sales And Prices Jump In May

San Francisco Bay Area Home Sales And Prices Jump In May

San Francisco Bay Area Home Sales And Prices Jump In May

San Francisco Bay Area Home Sales And Prices Jump In May

San Francisco Bay Area Home Sales And Prices Jump In May

San Francisco Bay Area Home Sales And Prices Jump In May

San Francisco Bay Area Home Sales And Prices Jump In May

San Francisco Bay Area Home Sales And Prices Jump In May

San Francisco Bay Area Home Sales And Prices Jump In May

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1 Comment

Filed under California, San Francisco

One response to “San Francisco Bay Area Home Sales And Prices Jump In May

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