Median Price for Bay Area Home Moves Above the Half-Million Mark

The median price paid for a Bay Area home moved above the half-million-dollar mark for the first time in almost five years, pushed up by pent-up demand, an improving economy, investor activity, low mortgage interest rates and constrained supply, as well as a continued decline in distressed sales, according to San Diego-based DataQuick. The median price paid in the nine-county Bay Area rose to $510,000 in April. That was up 17 percent from $436,000 in March, and up 30.8 percent from $390,000 in April a year ago.Click to continue