After five years of declining home values, the Bay Area housing market is finally coming back. According to the real estate website Zillow, areas like Brentwood, Antioch and Richmond are still hurting with home prices as much as 66 percent lower than their peak values, but there’s a strong comeback in San Francisco and parts of the Peninsula like San Carlos and Palo Alto, and areas of the South Bay like Los Gatos.
In Belmont, the housing market is hotter than ever. One house is just over 1,000 square feet. It was listed for $725,000 and the winning bid came in at $100,000 above that.
A three bedroom home in San Carlos is about to go on the market, but don’t expect it to stay there very long. If recent activity is any indication, the house will sell fast and likely well over its asking price.