So what’s happening here in our Oakland Berkeley East Bay Area Real Estate Market? Everyone wants to know, are we seeing a housing bubble and what should I do with my home? It can be so confusing with all the headlines. What’s the best choice to make for your family? I totally understand! I live, work, and play in the East Bay and breathe real estate every day and I can help you navigate this market.
Let’s look at the data of what’s happening so that you can make an educated decision. First off, according to the real estate experts and advisers that anytime inventory levels that are at six months of inventory or below then that means that we are in a seller’s market. It’s all about the supply and demand and when there is a limited supply like there is right now then the prices go up.
So let’s see what inventory levels are doing here locally. Is it a good time to sell here in Berkeley, California? Well let’s look at what happened in the month of March.
Berkeley at the time of this video has 56 active single family homes for sale on the market. In March, there were 46 single family homes that sold. The median number of days to sell was 12 days and the average sales price was $499,000 over the average listing price which shows us that we are in a strong seller’s market. Again, ***don’t forget*** that the real estate culture here intentionally underprices homes. However, drastic and tragic that may be.
Oakland, we have 302 active single-family homes for sale on the market. In March, there were 261 single family homes that sold. The median number of days to sell was 12 days and the average sales price was about $270,000 over the average listing price. Another strong seller’s market.
So here in the Oakland East Bay Area market, we have very low inventory and strong buyer demand. It’s a great time to sell as we’re consistently experiencing bidding wars in homes being sold above value and please don’t dismay when you hear “how much above list” a house sold. List price is almost always meaningless. We gotta look at the comps. Feel free to reach out to me at no cost or risk for a hassle-free strategy session.
Ask me about my tiered home selling plan where you get to pick which real estate services you want and the fee that you pay. Offering you simplified and transparent choices.
I’m a Top Producing Realtor® in the OAKLAND / BERKELEY / EAST BAY AREA. I’ve been in the San Francisco East Bay Area since I came up to do my undergrad at UC Berkeley (a long time ago!), with a short stint at UC Davis while getting my Master’s. I take my duties as a Realtor® and Fiduciary very seriously, I enjoy educating my sellers and buyers along the way. Putting People, Before Profit.
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