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Tracy- At the rate home prices are going to up in San Joaquin County, homeowners moving east from the bay Area might not be getting the deal they once did.
The median price for a home in Tracy jumped nearly 40 percent in the past year to $495,000, according to information compiled by Chicago Title from California Association of Realtors. Home prices in Stockton were up more than 32 percent and by more than 24 percent in Menteca.
The prices were taken fromm all types of homesales, including new and existing homes, condominiums and single-family dwelling. They reflect data collected from January 2004 to January 2005 and real agent Grace Alvarez, who’s been selling in Tracy for 17 years, said, “It’s still climbing”.
“It’s just been hot,” Albarez said, “I’ve been reluctant to write offers if my buyers aren’t willing to come over the asking price. And sellers only counter the best offers. Talk about competition. everyone wants to get in on the action because it’s a hot market”.
The median home price isn’t an average but a point axactly in the middle where the exact same number of houses have sold for more and for less. Median home prices in Tracy were $355,500 in January 2004 and $234,000 in Stockton.