June home prices recover pre-crash peaks in much of Bay Area

Courtesy Pete Carey San Jose Mercury News, July 16, 2014

Soaring single-family home prices in much of the Bay Area are near or above pre-crash peaks — and topped $1 million in San Francisco for the second month in a row — according to a report released Wednesday.

The median sale price of single-family homes sold in June in the nine-county Bay Area was only 8.6 percent off a 2007 peak of $675,000, according to the real estate information service DataQuick.

“The Bay Area is leading the way in price recovery and has for a couple years now, because it’s seen relatively strong job growth,” said Andrew LePage of DataQuick.

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