Bay Area home prices soar in brisk market

Bay Area homebuyers shook off any lingering reservations about shopping during the coronavirus pandemic, driving median sale prices up nearly 20 percent in September in a tight housing market.

The median sale price of an existing Bay Area single-family home climbed to $965,000 in September, near peak levels set in 2018, according to DQNews and CoreLogic data.

Real estate insiders say a swell of high-end sales pushed prices higher, as homebuyers sought bigger houses and yards for a long-term future of remote work.

“At the end, it’s really about your home and your space,” said Selma Hepp, deputy chief economist at CoreLogic.

The median price in September in Contra Costa County jumped 18.6 percent to $750,000, rose 15 percent to $1.33 million in Santa Clara County, increased 12.1 percent to $1.63 million in San Mateo County, and grew 12.1 percent to $975,000 in Alameda County, according to DQNews.

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