eastbayrealtor

Last 30 Days in the East Bay for July 2018

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Job growth is driving the demand for housing while hikes in mortgage Interest rates, increasing down payment requirements and tightening mortgage qualifications are challenging the consistently increasing market activity and rise in home pricing over the last 6 months. In some East Bay neighborhoods there is a slowing in new and active homes to market, median pricing and list to sale price, signifying a market shift and the first downtick since the beginning of 2018.  

STATS: July and (Change since June)

BERKELEY

SOLD  73 (+11)
New 35 (-18)
Active 57 (-20)
Median Days on Market 22 (+7)

MEDIAN PRICE
SOLD $1,220,000 (-$105,000)
New $998,000 (-$52,500)
Active $1,150,000 (-$45,000)
Sale to List Price 115% (-4%)

Patty: Berkeley stats are a good benchmark for East Bay market activity. 9 more homes SOLD in July, with decreases in new (-18) and active (-20) listings to market. Homes are staying on market for +7 days, at approx. 3 weeks. List to sale price has decreased by 4%. Make a home purchase in Berkeley while inventory is available.  

ALAMEDA

SOLD 39 (No Change)
New 14 (-13)
Active 22 (-6)
Median Days on Market 25 +(13)

MEDIAN PRICE
SOLD $1,100,000 (+$225,000)
New    $958,000 (-$43,000)
Active $958,000 (-$33,500)
Sale to list price 114% (+2%)

Patty: Alameda inventory has slowed for the second month in a row with approx 50% less new listings to market. Median SOLD pricing has increased while median offer pricing of new and active listings has decreased. Buyer demand continues, with final sale prices creeping up to 14% over ask.

EMERYVILLE

SOLD 13
New 10
Active 17
Median Days on Market 17

MEDIAN PRICE
SOLD $685,000
New     $624,000
Active  $599,978
Sale to list price 111%

Patty: Alameda inventory has slowed since last month, with about 30% less active listings though the same amount of homes have sold since last month showing steady buyer demand, with final sale prices moving up by a small margin. Expect to offer up to 12% over ask to compete.

PIEDMONT

SOLD  7 (-6)
New 4  (No Change)
Active 6  (-1)
Median Days on Market 16 (-2)

MEDIAN PRICE
SOLD $2,500,000 (+$485,000)
New $2,096,000 (+$20,000)
Active $2,495,000 (-$177,000)

Patty: July shows a slower market as will happen during the summer months with sale pricing and homes coming to market at a lower median price than the previous month. The market remains consistent in Piedmont with buyer demand for new and active listings. Expect a start point for homes here to be near and above the $2m mark. 

Next Level East Bay Real Estate Representation! 
PATTY ROGERS | The GRUBB Co. | Broker Associate, Lic #00669968  

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#modicumofcharm #pattyrogers #thegrubbcompany #noBS


What Does $500,000 Get You in the East Bay?

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What does $500,000 get you in the East Bay? A cross section of 1-2 bedroom condos with amenities, some outdoor space and smaller "modicum of charm" single family homes, some updated. Here are a few of over 58 currently for sale in this price point in #Oakland#Berkeley #Alameda #Emeryville

TIPS: Consider homes in a price point lower than your loan amount. Review comps and recent sales along with your agents local market knowledge to arrive at a home value and expect to leave room in your bid to make a competitive offer.

Connect for OPEN HOUSE times and private showings!

EMERYVILLE

1 Captain Dr #D251
1 Bed | 1 Ba | 817SF | Condo
Offered for $479,000

6400 Christie Ave #4111
1 Bed | 1 Ba | 743 SF | Condo
$489,000

ALAMEDA

1333 Webster St #A200
2 Bed | 1 Bath | 843SF | Condo
Offered for $469,000

11790 9th #3
1 Bed | 1 Bath |767SF | Condo
Offered for $424,000

BERKELEY

2543 Martin Luther King Jr Way #4
1 Bed | 1 Bath | 484 SF | Condo
Offered for $449,000

OAKLAND 94610

199 Montecito Ave #106
1 Bed | 1 Bath | 625 SF | Condo
Offered for $449,000

OAKLAND 94606

2039 E 22nd St | Single Family Home
4 Bed | 2.5 Bath | 1285 SF
Offered for $442,000

OAKLAND 94603

9943 Plymouth St
2 Bed | 2 Bath | 956 SF | Single Family Home
Offered for $449,000

Cover Photo: (L.) 1 Captain Dr #D251, (R.) 9943 Plymouth St

Next Level East Bay Real Estate Representation!

PATTY ROGERS | The Grubb Co. | Broker Associate, BRE#00669968