A brisk market with rising final sale prices. Buyer demand for homes is strong in 50 neighborhoods of Oakland, Berkley and Alameda. Remain flexible, and leaving room for competitive offers is key.
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SOLD 44 (+16)
New 39 (+9)
Active 46 (+5)
Median Days on Market 12 (-2)
SOLD $1,300,000 (+$182,500)
New $1,158,000 (+$13,000)
Active $1,222,500 (+$27,500)
Sale to List Price 122% (+5%)
Patty: Sale to List Price rose 5% over last month as more sales were made, yet still limited inventory under $1.2m means bidding remains competitive nudging up final sale pricing across the board.
NORTH BERKELEY HILLS
SOLD 11 (+5)
Active 14 (+6)
Median Days on Market 7 (-4)
SOLD $1,285,000 (+$267,000)
Sale to List Price 121% (+6%)
Patty: The $1.2m - $1.7m price point is the most active with homes flying off the market within 7 days. Competitive bidding is making final sale prices rise, 6% in the last 30 days. Think of purchasing in higher $$$ areas off-season or be prepared to compete.
EMERYVILLE | OAKLAND
Median Days on Market 11
Patty: Last 30 days showed lower price points than current market offerings. Emeryville offers mostly condos; as one of the most affordable, entry level housing areas in Oakland and is great locale for commuters. Find 2 bed/1 & 2 bath condos under $1m.
Median Days on Market 23
Sale to list price 112%
Patty: Lots of inventory in Alameda, with approx. 3 weeks to compete for homes under $1m, many requiring upgrades or overhauls, depending upon age and improvements. At final sales price 12% over asking, make effective offers to call Alameda your home.
Next Level East Bay Real Estate Representation!
PATTY ROGERS | The Grubb Co. | Broker Associate, BRE#00669968
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