Patch Map: Hercules, Pinole Property Values Continue to Climb

Home prices in Hercules and Pinole have risen considerably in the past year.

The median price of the 33 homes sold in the 94547 zip code in Hercules in April was $327,500, according to numbers released Thursday by DQNews. That was an increase of 11 percent over April 2012.

In Pinole, the median price of 22 homes sold in April in the 94564 zip code was $305,000. That was a 30 percent hike from the year before.

Prices and sales in other nearby zip codes can be found on the map with this story.

Here's an excerpt from the DQNews press release about sales of Bay Area homes in May: 

Bay Area home prices continued to rise in May, the result of an improving economy, low mortgage rates, pent-up demand and continued investor interest. Sales remained below average, mainly because the supply of homes for sale remains unusually tight, a real estate information service reported.

The median price paid for a home in the nine-county Bay Area last month was $519,000, up 1.8 percent from $510,000 in April, and up 29.8 percent from $400,000 in May 2012. That was the highest median since March 2008, when it was $536,000, according to San Diego-based DataQuick.

The Bay Area median peaked at $665,000 in June and July 2007, then dropped as low as $290,000 in March 2009 – a decline of $375,000, or 56.4 percent. In May the median was still 22.0 percent below the peak but it had made up about 61 percent of its peak-to-trough loss.

What do you think? Is the bubble back?