Markets & Economy

Bay Area prices up and nearing historic high

San Francisco market remains pricey and gaining
  • The November CoreLogic report says that housing prices in the Bay Area have nearly recovered to 2007 levels.
  • The median price paid for all homes sold in the Bay Area was $649,000, just 2.4 percent below the peak of $665,000, which was recorded in June and July of 2007.
  • The highest price median price was in San Francisco county.

Homes in the Golden State keep getting more and more expensive, and prices are approaching an all-time high. CoreLogic’s most recent report, recounting the key figures for November 2015 home sales, say that we’re getting close to pre-crisis levels. For just one example, the median price paid for all homes sold in the San Francisco Bay Area was $649,000. That means that the median is just 2.4 percent below the peak of $665,000, which was recorded in June and July of 2007. But, San Francisco is much like other areas of the country in a few important ways: inventories are low, sales volume has dropped off, and prices are still climbing toward or are very close to their pre-crash days. Whether the slow sales can be attributed to the time of year, or to TRID dragging on the market, the slumber is real. "November was a mixed month for San Francisco Bay Area home sales," said Andrew LePage, an analyst with CoreLogic, in a statement. "Despite a 6 percent year-over-year increas...