94546, Castro Valley, CA

Castro Valley, CA is located in the East Bay region of the San Francisco Bay Area. The zip code 94546 has a population of approximately 97,000 and an average household income of $85,000. Home prices in Castro Valley have increased significantly over the past few years, reaching a median price of $539,500 in September 2017. This represents a 119% increase from the median price of $236,500 recorded in September 2013.

The main drivers of home equity and home prices in Castro Valley are strong economic growth and low interest rates. The area has seen strong job growth over the past few years, with employment increasing by 7% between 2016 and 2017. Additionally, demand for housing has been driven by an influx of new residents who are seeking affordable housing options close to major employers such as Google and Apple Inc. In addition to these factors, limited supply has also contributed to rising home values in Castro Valley. There are only 2,600 homes available for sale within the zip code 94546 compared to 3,700 homes available five years ago. This limited supply is due in part to zoning restrictions that limit development near schools and other important infrastructure such as shopping centers and hospitals.

Despite these positive trends, there are some risks associated with buying or owning a home in Castro Valley. First and foremost is the fact that home values can fluctuate significantly over short periods of time due to market conditions (for example: interest rates). Secondly, although jobs growth is forecasted to continue throughout 2018 and 2019, there is no guarantee that this will be reflected in increased demand for housing which could lead to slower sales activity or even decreased prices for existing homes within the zip code 94546. Finally, although limited supply may be contributing to rising home values within Castro Valley overall there may be pockets where prices have become out of reach for many potential buyers due to high demand (for example: areas near BART stations). In light of these factors it is important for homeownership seekers to do their research before making any decisions about purchasing or selling a property within this area