These were the 10 priciest neighborhoods to buy a home in the Bay Area in 2020

San Francisco’s tony Pacific Heights neighborhood came in second, with a median price of $5.625 million.

Atherton’s pricier homes were smaller on average than Pacific Heights’; the town’s median home size was 3,740 square feet, compared with Pacific Heights’ 4,080-square-foot average.

That made Atherton the most expensive town by square footage, too, at $1,607 per square foot of home space compared to $1,538 per square foot in Pacific Heights.

Two other San Francisco neighborhoods made the top 10 most-expensive list in the Bay Area: The Marina district was the sixth-most expensive, with a median price of $3.825 million, and St. Francis Wood, near the Sunset District, came in ninth, at $3.43 million.

The median refers to the middle price for all homes in a set, where half sold for less and half for more.

Unlike the 2008 recession, which caused the Bay Area’s median home price to plummet from over $750,000 to under $350,000, the coronavirus pandemic caused only a $50,000 temporary decrease in the region’s median home price, from $950,000 to $900,000, according to data from the California Association of Realtors. And the market has since rebounded: Toward the end of the year, the Bay Area’s median home price surpassed $1.05 million for the first time.


But while the majority of the Bay Area remains expensive for prospective buyers, four market areas had median home prices below $500,000: Pittsburg in Contra Costa County, Dixon and Vallejo in Solano County, and Berryessa in Napa County.

Susie Neilson is a San Francisco Chronicle staff writer. Email: susan.neilson@sfchronicle.com Twitter: @susieneilson

Some of the region’s toniest places saw real estate prices hit new highs in 2020, as home buyers sought bigger houses and mortgage rates fell.

Source: Compass



Article source: https://www.sfchronicle.com/business/article/These-were-the-10-priciest-neighborhoods-to-buy-a-15915444.php

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