Bay Area real estate hits record high

Real Estate Growth

Despite the pandemic and wildfires, the median price of an existing single-family home hit a record high of $1,068,000, according to a recent California Association of Realtors report. This represents a 1.7 percent increase from July and an amazing 18.7 percent increase from August of last year.

Locally, the median price of an Alameda home rose .1 percent to $1,028,220 while Contra Costa saw a robust 2.5 percent increase to $805,000.

On a year-over-year basis, median prices were up in every Bay Area county in August. The strongest counties were Napa (24 percent) and Marin (23 percent), and sales were up significantly at 52.2% and 37.8%.