These are the Bay Area zip codes with the fastest and slowest growth in home value in 2021


At the start of the pandemic, many Bay Area residents traded their lives in the big cities for more spacious searches in the suburbs and outer areas.

Even though rental prices continue to slowly rebound in San Francisco, Oakland and San Jose, the housing market outside of metro areas is still hot.

According to data from the real estate listing website Zillow, home values ​​jumped the largest from December 2020 to November 2021 in zip codes in more suburban and rural areas, when they had the smallest change. in downtown areas, including many San Francisco zip codes. .

The zip code with the largest increase of about 38% was Sea Ranch, the small, isolated coastal community in Sonoma County that boasts unique architecture and dozens of trails. In second position with 28%, another beach town, Bolinas, is 30 miles north of San Francisco in Marin County. A third waterfront community, Bethel Island in Contra Costa County, recorded the third highest home value increase of 27%.

Matt Kreamer, Zillow’s data spokesperson, said the Bay Area, especially San Francisco, has long been one of the most expensive places to buy a home and also has a high share. remote jobs.

“What you are seeing in these rankings are exactly the trends that we have seen in the Bay Area for several years, and they have accelerated during the pandemic,” he wrote in an email. “Over the past two years, as more and more people have moved away from offices, we have seen home values ​​in the suburbs increase much faster than in urban areas. “

Zillow’s data attempts to reflect a typical home’s value in zip codes across the country. Home value estimates are not only based on the prices of recently sold homes, but rather estimate the value of all homes within a zip code based on the selling price trends of similar homes in the area. We reduced the data to postal codes only in the Bay Area of ​​nine counties with at least 1,000 residents.

Contra Costa County appears 10 times in the top 20 growing zip codes and Alameda County six times. Suburban towns are heavily represented: San Ramon, Pleasanton, Livermore, Castro Valley and Brentwood all make the list. Kreamer said East Bay’s growth has been particularly rapid, simply because homes are more affordable in the area.

“East Bay is cheaper than San Francisco, even though prices are rising faster,” he said. “And buyers can get more for their money: bigger homes and outdoor spaces, both of which have become more desirable during the pandemic. But it’s still close enough to get to the office a few times a week and enjoy the amenities of San Francisco.

In the South Bay, many of the fastest growing zip codes over the past year are in San José. Home values ​​in six San Jose zip codes have all increased by at least 20%. Kreamer said the trends in the South Bay are a bit different.

“I think a lot of it is the house type,” he said. “People looking for more space don’t necessarily have to look any further. So if it’s more important than lower prices, it’s a lot easier to stay in a more urban environment, and closer to amenities.

At the bottom of the list is La Honda in Santa Clara County with a 6% decrease in home value. Home prices in zip code 95113, located in downtown San José, fell 1%.

Six of the zip codes in the last 10 zip codes are in San Francisco, including 94,108 which grew only 0.3%, and include Union Square and parts of Nob Hill and Chinatown. Kreamer said that while home values ​​everywhere are increasing much faster than normal, slower growth in San Francisco is not that surprising.

“The growth in home values ​​in San Francisco is among the slowest in the country, but everything is relative,” he said. “The Bay Area has the highest house prices in the country, so it’s harder to afford to live there. The fewer people who can afford to buy, the less demand there is, and this dampens the growth in home values. “

And, he says, that doesn’t mean there’s an exodus from San Francisco. In fact, he predicts it’s actually likely to pick up again as more people arrive in the city now than at the height of the pandemic.

“Home values ​​there are increasing much faster than usual, but not as fast as in the suburbs,” he said. “But there is certainly still demand. San Francisco is one of the great cities of the country and the world. We don’t see the demand to live there diminish.

Kellie Hwang is a writer for the San Francisco Chronicle. Email: [email protected] Twitter: @KellieHwang


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