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WORKING DRAFT FOR HCD REVIEW <br />NEEDS ASSESSMENT 3-13 SAN LEANDRO HOUSING ELEMENT <br />Chart 3-3 displays median price data for a single family detached home in San Leandro from 2001 to <br />2013 based on data provided by the Bay East Association of Realtors. Between 2001 and the peak of the <br />market five years later in 2006, the median price of a San Leandro home rose 74 percent. By April 2006, <br />the median had reached $575,000.The increase in housing value was comparable to the county as a <br />whole, where a 75 percent increase occurred between 2001 and April 2006. <br /> <br /> <br />Chart 3-3: Median Price for a Single Family Detached Home in San Leandro, 2001-2013 <br /> <br />$330,000 <br />$360,000 <br />$465,500 <br />$555,036 <br />$380,000 <br />$399,950 $410,000 <br />$310,000 <br />$299,000 <br />$323,750 <br />$335,000 <br />$560,444 <br />$575,000 <br />$0 <br />$100,000 <br />$200,000 <br />$300,000 <br />$400,000 <br />$500,000 <br />$600,000 <br />$700,000 <br />2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 <br /> <br />Source: Bay East Realtors, 2014 <br /> <br /> <br />Prices began declining in late 2006. The decline continued through 2007 and into 2008. In 2008, the <br />median sales price for a single family home in San Leandro was $380,000. Prices in the city fell 8 <br />percent between June 2006 and June 2007 and by 24 percent between June 2007 and June 2008. The <br />median sales price in June 2008 was the same as it was in October 2003. The decline was parallel to a <br />countywide decline, where median price dropped from $613,000 in June 2006 to $450,000 in June 2008. <br />Data from the California Association of Realtors shows the price slide continued into 2009 and 2010. By <br />2011, the median sales price bottomed out at $299,000, about the same as it had been in 2000 and almost <br />half of what it had been just five years earlier. <br /> <br />Home prices began to increase in 2012. The pace of recovery accelerated in 2013, with the median sales <br />price increasing from $310,000 to $410,000 (a 32 percent increase) in one year alone. In July 2014, the <br />Zillow.com real estate website estimated the median sales price at $451,000.