EMERYVILLE,
CA, June 17, 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, Sheperd
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.
 |
| Don Cruz Datanagan |
· Neighborhoods
in 94123 include the Marina, Cow Hollow and Pacific Heights.
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
- For a complete copy of the company’s news release, please contact:
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