Bay Area median home prices hit all-time high
It took nearly nine years, but Bay Area home prices have climbed to a new high.
The median price paid for all houses and condominiums sold in the nine-county region hit a record $686,000 in April, real estate data service CoreLogic reported Wednesday. The previous peak of $665,000 was reached in June 2007.
Prices later crashed in the midst of a national housing crisis, falling to a low of $290,000 in March 2009.
Three counties, San Francisco, Alameda and Santa Clara counties, already had reached new record median prices before April, CoreLogic reported. Two others, Marin and San Mateo, are nearly back to their previous records.
When accounting for inflation, the April median is still 14 percent below the 2007 peak, CoreLogic reported.
Sonoma County’s median price for single-family home sales last month reached $569,500, according to The Press Democrat’s monthly housing report. That remains about 8 percent below the county’s record high of $619,000 set in August 2005.