Community Corner
Berkeley, Bay Area Home Prices Rise
Sales of more expensive homes are increasing as short sales and foreclosure resales drop.
The real estate market in the Bay Area is continuing to accelerate as more homes sell for more money. In October, the volume of home sales in the Bay Area increased for the 16th consecutive month and the median sale price climbed for the 6th straight month, according to DataQuick.
In Berkeley, the median sale price in September was $649,000, a 7 percent increase over September 2011.
DataQuick reported Wednesday that sales in the middle- and high-end of the market are rising even as sales below $300,000 in October declined year-over-year.
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On Wednesday, Federal Reserve boss Ben Bernanke said that banks may be hampering the U.S. economy's recovery by denying home loans to creditworthy borrowers.
At 3.34 percent, the average rate on a 30-year loan is at its lowest point since 1971.
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Alameda County Median Home Sale Price September 2012 County/City/Area Number Sold Sept. 2012 Sept. 2011 Percent Change Alameda County 1395 $380,000 $344,500 10.3% ALAMEDA 55 $487,500 $475,000 2.63% ALBANY 17 $575,000 $445,000 29.21% BERKELEY 49 $649,000 $607,000 6.92% CASTRO VALLEY 61 $425,000 $436,000 -2.52% DUBLIN 87 $493,000 $412,750 19.44% EMERYVILLE 50 $235,000 $264,500 -11.15% FREMONT 207 $540,000 $432,000 25% HAYWARD 158 $280,000 $251,000 11.55% LIVERMORE 101 $417,500 $370,000 12.84% NEWARK 47 $326,000 $290,000 12.41% OAKLAND 289 $250,000 $215,000 16.28% PLEASANTON 77 $687,500 $659,500 4.25% SAN LEANDRO 94 $309,000 $297,500 3.87% SAN LORENZO 24 $285,000 $285,000 0% UNION CITY 51 $412,500 $372,000 10.89% Source: DQNews
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