The housing market continues to heat up in the East Bay.
Home prices rose again in April as did the number of building permits being issued by cities. In addition, foreclosures are on the decline.
The website DataQuick reports the median price for all types of dwellings in the Bay Area was above $500,000 for the first time since 2008. That’s a 17 percent increase since March and a 30 percent hike from a year ago.
In Alameda County, the median sale price is now $510,000, a 36 percent increase from April 2012.
In Contra Costa County, the median sale price is $412,000, up from about $300,000 a year ago.
In Lafayette, the median sales price in March was just under $1.1 million, a 33 percent increase from a year ago.
In Moraga, the median price was $910,000, a 25 percent hike.
In Orinda, the median price was $1 million, a 12 percent increase.
Due to a lack of inventory, home sales have declined. In Alameda County, they were down 3 percent from a year. In Contra Costa County, the decline was 4 percent.
The results in this category were mixed in the Lamorinda region.
In Lafayette, there were 37 homes sold in March, a 42 percent increase from March 2012.
In Moraga, 18 homes were sold, an 18 percent decrease.
In Orinda, 18 homes were also sold, a 10 percent decline.
Meanwhile, RealtyTrac reports the number of single-family building permits nationwide increased 27 percent in the first quarter of 2013 to the highest level since 2008.
At the same, the number of foreclosure starts nationwide declined 27 percent to their lowest level since 2006.
In fact, the number of building permits issued and foreclosure starts were roughly the same for the first time since 2007.
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