Real Estate Roundup: Bay Area Luxury Home Prices Soar

Bucking National Trend

While nonluxury home prices are rising faster than their swankier counterparts across the U.S., prices for high-end homes in the Bay Area have skyrocketed since the housing recovery began.

Luxury home prices across the country increased 6 percent from May 2013 to May 2014, a recent Forbes article says. During that same time period, prices for nonluxury homes rose by 9.3 percent.

The publication found that high-end homes in two Bay Area real estate market have experienced particularly robust price growth over the past few years. From November 2011 to March 2014, luxury home prices shot up about 38 percent in San Jose to $1.4 million and 34 percent in San Francisco to $1.1 million.

Get the week’s real estate news at https://compasscaliforniablog.com/real-estate-roundup-bay-area-luxury-home-prices-soar