Bay Area home prices in April reach highest level in nearly three years, reports says

SAN FRANCISCO (KRON) — San Francisco Bay Area home prices reached their highest level in nearly three years in April, according to a new report. With a median home sales price of $1,250,000, the Bay Area remains the most expensive housing market in the nation, according to the latest housing report from real estate brokerage company, REMAX.

The median price for a Bay Area home in April was the highest it has been since June 2022 and about $25,000 higher than it was in April of 2024.

“Inventory in the San Francisco Bay Area counties continues to reach levels unseen over the last three years,” said Tim Yee, broker/associated with RE/MAX Gold. “Buyers, however, seem to be cautious as pending and closed sales are not keeping up with listing inventory. The market has definitely started shifting back to a more level economic playing field for both buyers and sellers.”

Unsurprisingly, the top three markets with the highest median home sales price in the U.S. are all in California. Los Angeles was right behind the Bay Area with a median sales price of $960,000, followed by San Diego with a median price of $892,000.

Rounding out the top five markets were Seattle at $750,00 and urban Honolulu at $713,000.

Some additional findings from the REMAX report include:

• Home sales are down -0.9% year-over-year
• Active inventory is up +44.8% year-over-year
• New listings are up +6.2% year-over-year

The average Bay Area home, according to REMAX, sells in 26 days — four days longer than last year.