Bay Area housing market continues its rebound

http://www.contracostatimes.com/business/ci_21546829/bay-area-housing-market-continues-its-rebound

In the latest sign that the housing market is on the mend, last month was the hottest August for Bay Area home sales in six years, with many properties attracting a dozen or more bids from would-be buyers.

A total of 8,579 homes of all types were sold in the region in August, up 14 percent from the same month last year, according to the real estate information service DataQuick. That represents the 11th straight month sales have registered a year-over-year increase.

The median price also shot up 11 percent, to $410,000, with the asking price on many homes getting bid up from 3 to 10 percent, said Marilyn Cunningham, a realtor with Executive Brokers in Walnut Creek.