Home prices in Castro Valley have risen in the past year but not by as much as other areas.
The median price of the 14 homes sold in the 94552 zip code in April was $672,500, according to numbers released Thursday by DQNews. That was an increase of 18 percent over April 2012.
Prices and sales in other nearby zip codes can be found on the map with this story.
Here's an excerpt from the DQNews press release about sales of Bay Area homes in May:
Bay Area home prices continued to rise in May, the result of an improving economy, low mortgage rates, pent-up demand and continued investor interest. Sales remained below average, mainly because the supply of homes for sale remains unusually tight, a real estate information service reported.
The median price paid for a home in the nine-county Bay Area last month was $519,000, up 1.8 percent from $510,000 in April, and up 29.8 percent from $400,000 in May 2012. That was the highest median since March 2008, when it was $536,000, according to San Diego-based DataQuick.
The Bay Area median peaked at $665,000 in June and July 2007, then dropped as low as $290,000 in March 2009 – a decline of $375,000, or 56.4 percent. In May the median was still 22.0 percent below the peak but it had made up about 61 percent of its peak-to-trough loss.
What do you think? Is the bubble back?
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