Real Estate

Home Prices in Berkeley Expected to Rise This Year

Real estate website forecasts price increases for 2013 in all Bay Area ZIP codes

David Mills, Patch StaffVerified Patch Staff Badge
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Home prices in Berkeley will rise between 7 and 10 percent, according to a study done by an online real estate site.

The site, zillow.com, predicts home prices in 244 of the 245 zip codes in the Bay Area will rise in 2013. The only exception will be the 94515 area in Calistoga, according to a story in the San Francisco Chronicle.

The story says the biggest reason for the projected price increase is a lack of homes for sale on the market.

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In Berkeley, homes in the 94709 zip code are predicted to jump 10.2 percent in 2013. It's one of 27 Bay Area zip codes projected to have a double-digit increase.

Here is the individual zip code data for Berkeley.

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Zip Code Dec. 2012 median Dec. 2013 projection Increase % below peak price 94709 $698,600 $769,693 10.2% -16.1 percent 94702 $531,800 $582,756 9.6% -16.8 percent 94708 $837,100 $912,266 9.0% -15.4 percent 94707 $867,500 $944,550 8.9% -12.1 percent 94704 $681,100 $740,659 8.7% -14.5 percent 94710 $504,200 $547,444 8.6% -15.9 percent 94703 $580,300 $627,975 8.2% -16.1 percent 94705 $1.05 million $1.12 million 7.3% -13.5 percent

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