Bay Area realtors and homeowners are getting the feeling that the recovery is in full swing with median home price for single-family homes, duplexes, and all other types of dwellings, in the Bay Area have now exceeding $500,000. That’s the first time that the medium price has reached this level in close to five years.
Goodbye Underwater Homes
With home values quickly going up, the average, median home price of a Bay Area home is now $510,000, and this is also helping to dramatically decrease the quantity of homes that can be considered underwater in the Bay Area’s nine counties.
This is awesome news for underwater homeowners who had been waiting years for their own values to go up so they could once again sell their homes and not have to come out of pocket to make the transaction come together.
A Real Life Example
A good example of someone who is benefiting from the increase in home values is Pleasant Hill resident Jon Carlson, a homeowner who bought his home back in 2007 for just over $650,000 and, after the Real Estate market crash, Mr. Carlson’s homes was appraised at $400,000; the good news is that thanks to the rapid growth of the Bay Area real estate market, Jon Carlson was able to recently sell his home for $679,000 after he originally listed it at $649,000.
In a recent interview with the San Jose Mercury News, Kevin Kieffer, a real estate agent with Keller Williams Realty, and also the real estate agent for Jon Carlson said recently “The market’s got a huge trajectory,” and this is something that all Realtors in the Bay Area including top listing agents across the United States would agree with. Click here to read the full article
Year Over Year Gains
For those people following the progress of the Bay Area Real Estate market, home prices have appreciated almost 40% since April of 2012 alone, we know this thanks to a recent report released by real estate giant Dataquick.
The time to buy a home in Pleasant Hill and anywhere else in the Bay Area is now, for more information about home values in the Bay Area, please leave a reply below or contact Kevin Kieffer directly at: (925) 300-8000.
If you are searching for a home in Pleasant Hill please go to: www.LiveMLSaccess.com; or if you are interested in your home value, then click here or go to: EastBayPro.com/Home-Values.asp (automatic home value report generated in just 5 minutes)