Housing prices in the Bay Area are continuing to soar and are nearing the $1.5 million record for median prices set in April 2022, according to new home sales data released by the California Association of Realtors.
The median home price for the Bay Area climbed to $1.46 million in May, a marginal increase from the month before and a 12% spike from the year prior.
Home prices in San Mateo County are helping to drive the sharp increase even as interest rates remain high. San Mateo's median price was $2.4 million in May, climbing $250,000 just from April alone, and $325,000 when compared to the same time last year.
Santa Clara County is the other county with a median price surpassing $2 million. In May, the county's $2.1 million median home price was a $100,000 jump from the month before and a $312,000 increase compared to the previous year.
You can view the report at the California Association of Realtors website.
Get a weekly recap of the latest San Francisco Bay Area housing news. Sign up for NBC Bay Area’s Housing Deconstructed newsletter.
