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October Home Sales in South San Francisco Are Good News for Sellers

The higher prices are a good sign for sellers and cities that rely on property taxes to fund city services. For buyers, the news may not be so good.

The median price for a home in South San Francisco was $480,000 in October 2012, a nearly 10 percent increase over October 2011 prices. The number of homes sold was also up over last year too, with 57 South San Francisco homes changing hands in October.

The price data was released on December 13 by the San Diego-based real estate tracking firm DataQuick.

According to DataQuick, nearly 7,800 Bay Area homes changed owners in October. The median price for a Bay Area home was $416,000.  Sales volume was up 160 percent in Burlingame and Hillsborough as well. 

The San Francisco Chronicle reports that the generally higher prices for homes are due to a confluence of tight supply, high demand and low interest rates on mortgage loans.

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Community Zip code Number Sold Percent Change Median Price Percent Change Highest Price Price per Square Foot Percent Change

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South San Francisco 94080 57 26.7% $480,000 9.7% $745,000 $367 -2.5%

More South San Francisco real estate info:

           .        Homes for sale in South San Francisco

           .        Rentals

           .        Home values

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