Bay Area Home Prices Highest in U.S. in Fourth Quarter

Optimistic Forecast

Two recent reports recount an exceptional 2013 in Bay Area residential real estate and deliver an optimistic forecast for the coming year. San Jose and San Francisco both posted double-digit year-over-year price hikes, while Northern California leads the country in smallest months’ supply of inventory for both resale and unsold homes.

According to NAR’s recent fourth-quarter report, two Bay Area metropolitan areas led the country in terms of median sales price as 2013 drew to a close. The San Jose area had the highest median single-family home sales price in the U.S., at $775,000, while San Francisco ranked No. 2 at $682,400. Two of the other top five priciest housing markets were also in California.

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