#EastBay #HomeSales are robust!
Interest rates have risen with 2 more expected rate hikes expected this year. Inventory has loosened, with more active homes on market and homes selling within 1-2 weeks on market. The time to buy and sell is now!
Median Days on Market 15
Sale to List Price 119%
Patty: Berkeley is a jamming market. 11 more homes sold than last month with inventory increasing steadily since March. Final Sale prices have declined by 1-2% since March and median pricing has increased by a small margin. Expect to add up to 20% to your offer to compete in this busy market.
LOWER ROCKRIDGE (OAKLAND)
Median Days on Market 16
Sale to List Price 118%
Patty: The charming craftsman homes and condos here make for a popular buyer destination. A slower moving market with only a couple of more sales and few more new and active listings than the previous month. Homes sell in the Low to High $1m range and move within a week of coming to market. Final sale prices are competitive.
Median Days on Market 18
Patty: Home pricing has risen with 13 homes sold and not much inventory on or coming to market. Expect a start point for homes here to be near and above the $2m mark. So little inventory signals competition for available homes and high buyer demand.
Median Days on Market 12
Sale to list price 112%
Patty: Alameda inventory has slowed since last month, with about 30% less active listings though same amount of homes have sold since last month showing steady buyer demand, with final sale prices creeping up by a small margin. Expect to increase offer your price of up to 12% over ask to compete.
Next Level East Bay Real Estate Representation!
PATTY ROGERS | The Grubb Co. | Broker Associate, BRE#00669968