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Median Hercules Sale Price Declines as Bay Area Real Estate Market Comes Back

The median home sale price in Pinole grew by 34 percent. Sales of more expensive homes are increasing as short sales and foreclosure resales drop.

The real estate market in the Bay Area is continuing to accelerate as more homes sell for more money. In October, the volume of home sales in the Bay Area increased for the 16th consecutive month and the median sale price climbed for the 6th straight month, according to DataQuick

In Hercules, the median sale price in September was $260,000, a 7 percent drop from September 2011. 

With a median sale price in September of $281,250, Pinole saw an increase of 34 percent over the same month in the previous year. 

DataQuick reported Wednesday that sales in the middle- and high-end of the market are rising even as sales below $300,000 in October declined year-over-year. 

On Wednesday, Federal Reserve boss Ben Bernanke said that banks may be hampering the U.S. economy's recovery by denying home loans to creditworthy borrowers. 

At 3.34 percent, the average rate on a 30-year loan is at its lowest point since 1971. 

Sales Volume Median Price October 2011 October 2012 Percent Change October 2011 October 2012 % Chng Alameda 1308 1618 23.7% $340000 $384000 12.9% Contra Costa 1329 1454 9.4% $250750 $302500 20.6% Source: DQNews Contra Costa County Median Home Sale Price September 2012 City/County/Area Number Sold Sept. 2012 Sept. 2011 Percent Change Contra Costa County 1403 $320,000 $253000 26.48% ALAMO 23 $1,171,000 $975000 20.1% CLAYTON 17 $475,000 $497000 -4.43% CONCORD 116 $270,000 $240000 12.5% DANVILLE 76 $780,000 $785000 -0.64% DIABLO 4 $1,585,000 $2,541,500 -37.64% DISCOVERY BAY 32 $355,000 $300,000 18.33% EL CERRITO 16 $399,500 $490,000 -18.47% EL SOBRANTE 27 $312,500 $260,000 20.19% HERCULES 35 $260,000 $280,000 -7.14% LAFAYETTE 26 $835,000 $935,000 -10.7% MARTINEZ 65 $328,500 $239,500 37.16% MORAGA 11 $820,000 $752,500 8.97% OAKLEY 73 $257,500 $175,000 47.14% ORINDA 29 $940,000 $885,000 6.21% PINOLE 20 $281,250 $209,500 34.25% PITTSBURG 81 $181,250 $150,000 20.83% PLEASANT HILL 39 $435,000 $433,500 0.35% RICHMOND 89 $150,000 $133,500 12.36% RODEO 8 $221,250 $264,500 -16.35% SAN PABLO 62 $180,000 $157,750 14.1% SAN RAMON 120 $637,000 $628,500 1.35% WALNUT CREEK 128 $478,000 $440,000 8.64% Source: DQNews

 

Alameda County Median Home Sale Price September 2012 County/City/Area Number Sold Sept. 2012 Sept. 2011 Percent Change Alameda County 1395 $380,000 $344,500 10.3% ALAMEDA 55 $487,500 $475,000 2.63% ALBANY 17 $575,000 $445,000 29.21% BERKELEY 49 $649,000 $607,000 6.92% CASTRO VALLEY 61 $425,000 $436,000 -2.52% DUBLIN 87 $493,000 $412,750 19.44% EMERYVILLE 50 $235,000 $264,500 -11.15% FREMONT 207 $540,000 $432,000 25% HAYWARD 158 $280,000 $251,000 11.55% LIVERMORE 101 $417,500 $370,000 12.84% NEWARK 47 $326,000 $290,000 12.41% OAKLAND 289 $250,000 $215,000 16.28% PLEASANTON 77 $687,500 $659,500 4.25% SAN LEANDRO 94 $309,000 $297,500 3.87% SAN LORENZO 24 $285,000 $285,000 0% UNION CITY 51 $412,500 $372,000 10.89% Source: DQNews
John Loudermilk November 17, 2012 at 07:31 PM
Location drives real estate value. Our location is the same as its been forever. This is a temporary condition that represents a buying opportunity. Tell your friends and family to come buy/live in this beautiful community and get a rock bottom sale price at the same time. 5 yrs from now they will regret not taking your advice.
Dwayne Hoover November 17, 2012 at 07:39 PM
John, We agree ! Yeah !
Ani November 17, 2012 at 08:20 PM
please remember that Hercules is served by 2 school districts.
Dwayne Hoover November 17, 2012 at 08:33 PM
Ani, Yes, If John Swett ended up providing the school that would be great. At this point WCCUSD has stated publicly that they want the property, can't afford to buy it just yet, and they are exploring the status of population and development growth plans. Hercules owes WCCUSD $M's (in excess of $6M). Seems to me that this is a situation were smart negotiations for the land in exchange for the Hercules debt would make a lot of sense. Of course I feel certain there are a few who are opposed to seeing a school on this tract of land and they will try to find ways to keep a deal from happening.
Susan D.Keeffe November 18, 2012 at 08:47 PM
Ani The Corps Yard is located within the WCCUSD jurisdiction. The dividing line with the John Swett District is Hiway 4- John Swett cannot buy it even if they wanted to.

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