Home Prices Hit Pre-Recession Levels In Many Bay Area Cities

CBS San Francisco

SAN FRANCISCO (KPIX 5) — Real estate website Zillow released a report Monday night that shows home prices in dozens of Bay Area cities have hit pre-recession levels. Experts said prices are likely to keep going up for the foreseeable future.

Zillow said 49 Bay Area cities have already reached pre-recession prices or will very soon.

Read The Report:

“Yeah, it’s really hot right now,” East Bay broker Ray Marquez of J. Rockliff Realtors told KPIX 5.

“In the $800 (thousand) to $1.2 (million), we’re still seeing a lot of multiple offers happening. And even in the $2 million and above we’re seeing cash offers.”

The priciest cities are no surprise. Woodside, Portola Valley, Hillsborough, and Los Altos Hills will see some of the biggest increases, to well above $3 million in 2015.

Atherton, where the median home price is already at $4.5 million…

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