Oakland, Calf., Home Price Growth Exceeds San Francisco, Berkeley and Alameda, Reports ZipRealty
June 25 2014 - 10:49AM
FOR IMMEDIATE RELEASE
Media Contact: Stacey Corso
510.735.2667
scorso@ziprealty.com
ZipRealty
reports the most expensive Oakland zip code is 94611, while San
Francisco's priciest neighborhoods are located in the 94123 zip
code.
EMERYVILLE, Calif.,
June 25, 2014 - ZipRealty, Inc. (http://www.ziprealty.com) (NASDAQ:
ZIPR), a leading online residential real estate brokerage and
provider of technology and marketing solutions, today released a
new report showing that Oakland median home price growth has
surpassed San Francisco, Berkeley and Alameda. ZipRealty analyzed
the latest MLS data on home sales as of May 31, 2014 to create the
four-city study. Zip codes in which five or more real estate sales
closed in 2014 were included in the analysis.
Oakland's median home sales price jumped 23% to
$478,000 in May 2014. "As Oakland continues to experience something
of a Renaissance, home prices keep accelerating across the city,"
said Don Cruz Datanagan, District Broker for the East Bay office of
Zip Realty. "Astronomically high San Francisco prices have sent
residents flocking across the bay in search of lower home prices in
Oakland over the past two years. In turn, we have seen this place
upward pressure on pricing."
San Francisco's median home sales price rose 14%
year-over-year as of May 2014 to just over $1 million, while
Alameda's median home sales price increased 11% during the same
time period to $666,250. Meanwhile, Berkeley was the only city of
the four metros studied by ZipRealty to post a decline in price of
1% year-over-year to $801,000 as of May 2014.
BAY
AREA CITY |
MEDIAN HOME SALES PRICE |
|
MAY 2013 |
MAY 2014 |
% CHANGE |
OAKLAND, CA |
$387,500 |
$478,000 |
23% |
SAN FRANCISCO |
$890,000 |
$1,015,000 |
14% |
ALAMEDA, CA |
$595,000 |
$666,250 |
11% |
BERKELEY, CA |
$812,000 |
$801,000 |
(1%) |
The most expensive zip code
in Oakland is 94611, where the median home price was
$795,000 as of May 31, 2014, a (2%) decline from the previous
year.
- Neighborhoods in 94611 include Piedmont Pines,
Grand Lake, Glen Highlands, Shepherd Canyon and Merriwood.
The most expensive zip code
in San Francisco is 94123, with a median home price of
$3.15 million. The year-over-year increase in 94123 was 109% as of
May 31, 2014.
The most expensive zip code
in Alameda is 94501, with a median home price of $725,000,
a 22% year-over-year increase as of May 31, 2014.
- Neighborhoods in 94501 include the Gold Coast,
South Shore, Fernside, Bronze Coast and East End.
The most expensive zip code
in Berkeley is 94705, with a median home price of $2
million as of May 31, 2014, an 85% year-over-year increase.
- Neighborhoods in 94705 include Claremont, the
Claremont Hills, Elmwood and Panoramic Hill.
###
www.ziprealty.com
About ZipRealty,
Inc.
ZipRealty is a leading national real estate brokerage and provider
of proprietary technology and comprehensive online marketing tools
for the residential real estate brokerage industry. For home buyers
and sellers who increasingly want control, choice and a seamless,
customized service, ZipRealty offers Internet-enabled,
state-of-the-art technology and complete access to accurate, timely
information via its website and mobile applications, which real
estate professionals can combine with their own local knowledge and
personal expertise to offer an exceptional start-to-finish client
experience. For real estate professionals who seek more productive
ways to conduct business, ZipRealty provides technology and online
marketing tools to enhance their online sales channel, including
lead generation, conversion and service of their clients.
ZipRealty's technology and online marketing products serve its
full-service, owned-and-operated residential real estate brokerage
business in 19 markets nationwide, as well as its Powered by Zip
network of leading third-party local brokerages in 21 markets.
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: ZipRealty via Globenewswire
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