Thursday, September 3, 2009

Berkeley Real Estate Update August 09 for Zip code 94702

This chart is for median price of  detached homes (no condos, no income properties) from August 2008 to August 2009.  There is a 1% increase in the median sales price over this time.  The market is changing.  If you are looking for a bargain real estate property in Berkeley, you are a day late.   I am sorry that the chart is hard to read.  This is the best I can do for now. The main numbers are 617K in August 2008 and 621K in August 2009 or almost a 1% increase in price.

On another note. I saw yesterday that a duplex I was watching on Grant road in Berkeley that was listed at 575K which was a bit on the low side, I thought but not that low ended up selling for 705K!  Wow!and only on the market for 14 days.  This is indicative of the phenonmenon I keep mentioning that there are plenty of buyers and not enough inventory on the market.

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