Bay Area Counties Hit Million-Dollar Median Housing Prices

The median price of a single-family home in California’s Santa Clara and Alameda counties hit the seven-digit level in April.

According to a San Jose Mercury-News report, Santa Clara County’s single-family housing carries a median price of $1 million, the first time it went into a million-dollar range. San Mateo County’s median price was $1.2 million, which tied a record level set in May 2015.

For the Bay Area equivalent of affordable housing, Contra Costa County’s median price was $525,000, its highest level in seven years. As a whole, the Bay Area's nine counties experienced a median single-family home price increase last month to $725,000, not far from the July 2007 peak of $738,500.  

And while prices are on the rise, many residents may be on the retreat: a recent poll conducted by the Bay Area Council found more than one-third of the population considering a relocation due to unhappiness with housing costs and lengthy commutes.