There seems to be no stopping the rise in the price of homes. At least not in the near future.
DataQuick reported a few weeks ago that the median price of a home in the East Bay rose more than 20 percent in March compared to a year ago.
In Alameda County, the median price is now $445,000, 10 percent higher than February and 22 percent higher than March 2012.
In Contra Costa County, the median sale price is $346,000, 13 percent higher than February and 33 percent higher than March 2012.
One of the prime reasons for the increase is a lack of inventory. Many homes are getting multiple bids over the asking price, driving up the price.
There is some concern this phenomeneon is pricing some potential homeowners out of the market.
With all this in mind, we thought we’d go back to all our communities and see what the most expensive home is on the market.
In the Oakland Hills, this four-bedroom, 4.5-bathroom house at 5200 Grizzly Peak Blvd. is listed at $3.7 million. The home, built in 1992, is 4,900 square feet and sits five acres.
Do you know of other high-priced homes in your community? Tell us about them in the comments section.
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