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A typical home in the small East Bay city was valued last month at around $513,000, down 12 percent from five years earlier, according to the Chronicle, citing Zillow. Home values in Emeryville are the lowest in the San Francisco area, the newspaper reported.
As for the reason why, much of the decline comes down to the city’s high percentage of condominiums, which often include costly homeowners association fees and may not align with post-pandemic buyer priorities, the Chronicle reported, noting high interest and insurance rates also play a role.