What are the Bay Area housing market trends in the past decade?
It’s no secret that Bay Area home prices have risen dramatically since the Great Recession, though the market started to cool about a year ago. Single-family home values have jumped an average of 6% each year for the past 10 years, reaching a peak median of $962,700 in Oct. 2018 across the San Francisco metropolitan area. San Francisco has the highest median home price among major U.S. cities, reaching $1.7 million in June. Some Silicon Valley suburbs are even more expensive, such as Atherton, where the median home price is $8 million. Demand is so strong that historically lower priced, minority areas like East Oakland, East Palo Alto and San Francisco’s Bayview have seen some of the biggest price spikes in recent years. But overall, Bay Area prices have remained flat or fallen between March and August, according to CoreLogic.