Average home prices up year-over-year in Bay Area

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SAN FRANCISCO (KRON) — Average home prices in all nine Bay Area counties were up last month compared with a year ago, according to research firm CoreLogic.

The largest increase was in San Mateo County where the median home price jumped from $843,000 to $960,000 or 13.9 percent, CoreLogic officials said.

The second largest increase was in Alameda County where the median home price leapt from $580,000 to $650,000 or 12.1 percent, according to CoreLogic officials.

The median or average price among all nine Bay Area counties was up 6 percent to $649,000 last month, CoreLogic officials said.

Rent has also been on the rise all over the Bay Area, which is now one of the most expensive places to live in the entire county.

The median rent for an apartment in San Francisco is $3,880. Just looking for a studio? Get ready to fork over $2,722 every month.

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