Bay Area Home Prices Reach 2007 Levels
The median price paid for a Bay Area home or condo shot up to $570,000 in March — 7.2 percent higher than in February and 23.2 percent more than in March of last year, according to DataQuick.
That was the highest median since $587,500 in December 2007, but still below the all-time high of $665,000 in June and July of 2007.
Sales and prices typically pick up between February and March, but the seasonal price increase this spring was higher than the long-run average of 4.3 percent. The pickup in sales, however, was weaker than average.
Authored By Kathleen Pender – See the Full Story at SFGate
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