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Home Prices in San Mateo Expected to Rise

Real estate website forecasts prices to increase for 2013 in all but one Bay Area zip code

Home prices in San Mateo will rise more than 6 percent this year, according to a study conducted by an online real estate site.

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

The story suggests that the primary reason for the price increase is the tight inventory, a lack of homes for sale on the market.

With the increase, prices in more than half of San Mateo neighborhoods will be just shy of peak prices of a few years ago.

Here is the individual zip code data for the San Mateo area.

Zip Code Dec. 2012 median Dec. 2013 projection Increase % decrease from peak price 94402 $1,101,200 $1,196,990.46 8.7%  -4 percent 94403 $769,400 $823,048.92 7% -9 percent 94401 $518,100 $552,542.25 6.6% -25.5 percent

 

 

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