East Bay Market Report
A brisk market with rising sale to list prices as the spring market begins. Inventory slightly up though buyer demand for homes in 50 neighborhoods of Oakland, Berkley and Alameda remains strong and competitive.
Here are the stats for 4 neighborhoodS:
Median Days on Market 14
Sale to List Price 117% (+)
Patty: Sale to List Price rose 4% over last month as more, yet still limited inventory under $1.2m means bidding remains competitive nudging up final sale pricing. Number of homes SOLD doubled over last month with the rate of homes to market and active market remaining unchanged.
NORTH BERKELEY HILLS
Median Days on Market 11
Sale to List Price 115% (+)
Patty: The $1.2m - $1.6m price point is the most active in this neighborhood with the number of homes sold doubling over last month while inventory remains unchanged with available homes selling quickly with the sale to list price at 4% more than the prior month.
Median Days on Market 16
Sale to List Price 109%
Patty: A few more homes to market this month than last with the Median pricing rising slowly but steadily. Sale to list Price up 1%. With home available under $1m, buyers are well-prepared to offer competitively, with an eye on homes with added value potential.
Median Days on Market 3
Patty: The inventory has tripled as Spring arrives with 9 active listings. Recent sales drove up the median sale price with 2 recently sales coming in over over $3.5m. New listings range from just under $1m for 1338 SF for 3 Beds to the high $3m’s for a 5,463SF home of 7 beds.
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PATTY ROGERS | The GRUBB Co. | Broker Associate, Lic #00669968
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