A snapshot of the East Bay Residential Real Estate Market -Third Quarter 2007
|
Albany |
Kensington |
Berkeley |
Oakland |
Piedmont |
# units sold |
44 |
13 |
176 |
594 |
20 |
Avg. days on market |
29 |
20 |
29 |
37 |
19 |
Highest sold price |
1034000 |
2480000 |
3000000 |
3075000 |
3000000 |
Median sales price—Q3 2000 |
401500 |
485000 |
453000 |
274000 |
900000 |
Median sales price—Q3 2001 |
470000 |
504000 |
468000 |
312000 |
660000 |
Median sales price—Q3 2002 |
487000 |
650000 |
553000 |
369000 |
972000 |
Median sales price—Q3 2003 |
535000 |
652000 |
590000 |
380000 |
982000 |
Median sales price—Q3 2004 |
553500 |
728000 |
631000 |
440000 |
1165000 |
Median sales price—Q3 2005 |
598000 |
835000 |
730500 |
515000 |
1325000 |
Median sales price—Q3 2006 |
650000 |
797500 |
710000 |
510000 |
1342500 |
Median sales price—Q3 2007 |
557000 |
794500 |
687500 |
568750 |
1327500 |
Change from last year |
-14.3%1 |
-.38% |
-3.17% |
11.52% |
-1.12% |
Percent Change from Q3 2000 |
38.73 |
63.81 |
51.77 |
107.57% |
47.5 |
Number of units sold was down in all areas: off by only 2 in Berkeley, while off by half in Kensington (a small sample) and down a third in Oakland, a fairly large sample. Days on the market was only slightly different in Albany & Kensington, but in Berkeley & Oakland it increased by a full week, and in Piedmont it decreased by a full week. And then take a look at the changes in median price, and you’ll understand how impossible it is to speak about a macro market!
