Community Corner
Median Benicia Sale Price Increases as Bay Area Real Estate Market Comes Back
The median home sale price in Benicia grew by 15 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 Benicia, the median sale price in September was $355,000, a 15 percent increase from September 2011.
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.
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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.
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Solano County Median Home Sale Price September 2012 County/City/Area Number Sold Sept. 2012 Sept. 2011 Percent Change Solano County 533
BENICIA 31 $385,000 $308,000 15.1% DIXON 22 $231,000 $216,000 7.4% FAIRFIELD 155 $239,000 $208,000 14.5% RIO VISTA 15 $190,000 $175,000 8.6% SUISUN CITY 32 $169,000 $163 3.4% VACAVILLE 131 $232,500 $231,000 .5% VALLEJO 147 $190,000 $170,000 11.75%
Source: DQNews
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