East Bay Realtor: Emeryville condos and townhouses monthly market update. The number of For Sale property is decreasing and the sold price has been increasing (notice the trend lines). At the same time (chart below) the months supply of inventory has been fairly steady at a low point. These charts seem to indicate that the bottom of the market has been reached, 14$ increase in price compared with the same time a year ago.
East Bay Real Estate Albany Housing Market Update
This chart shows what's been going on in Albany for the past 12 months. The first bar represents the median "for sale" price and the second bar represents the median "sold" price in a given month. Because escrow lasts usually about 30 days there may be a months lag between forsale and sold. But the main point of this graph is to look at the trend. Has the Albany housing market hit bottom? This chart is not definitive but my opinion is "yes it has."
The second chart depicts the amount of available housing stock in Albany. It clearly shows that there is little availability. Houses in Albany are in demand. And this basic law of the marketplace is keeping home prices in Albany strong. I think as we look forward we will see prices showing an increase and sales will continue to be brisk.
It appears from this chart that the bottom of the market in this zip code happened last February. The green column represents the List Price and the red column represents what the property actually sold for. What's going on? This area is seen to be an afordable one and a good entry point for first time buyers. its proximity to both Berkeley and Emeryville and developments like the Dogtown area make it both attractive and affordable. Developers and flippers have found distressed proerties in this area and are fixing them up and turning them over. They price a bit low and watch the bidding take off. My opinion is that this growth is not sustainable and will tend to moderate a bit. But this area is undergoing rapid transformation and prices are still affordable. This area, in my opinion, is a good one for first time buers to explore.
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I thought you might be interested in this little graphic . Data is taken right off the MLS.
Berkeley Flats October 2008 vs October 2009. The red column represents the list price and the green column represents the price the home actually sold for. This chart is for detached houses only in MLS areas 4,5,6,7,8.
East Bay Real Estate: Homes available in Alameda, Albany, Berkeley, El Cerrito, Emeryville, El Sobrante, Oakland, Richmond, Kensington, San Leandro. List of Sunday Open Houses posted each weekend on my website: http://www.billfletcherhomes.com/. Click "Sunday Open House" tab. Happy searching. If you need help please feel free to email me at email@example.com or call 510-368-2854.
Median Home prices in the Lorin district of Berekely (South of Dwight, West of Adeline) have fallen in the past year by 11%. At the same time availability (month's supply of inventory)has dropped by 82% signifying that this might be a good time to sell. It certainly has been a good time to buy!
If you are looking at how much a property is selling for above list price then North Oakland is one of the hottest areas in the United States. According to Zip Realty who is tracking this stuff in 33 major markets, 94608 average sales price in the 3rd quarter averaged 105.6%!
For more in-depth real estate information in the Berkeley, Albany, Oakland, Emeryville, El Cerrito, Kensington, Piedmont, San Leandro,Richmond, El Sobrante Areas please check out my website at http://www.billfletcherhomes.com/.
CITY OF BERKELEY LAUNCHES 311 AND UPDATED ONLINE SERVICE CENTER
Pilot program aims to streamline and improve customer service
Berkeley, California (Monday, November 02, 2009) - Berkeley residents, businesses, and visitors now have two faster, easier ways to access City services: a new 311 Call Center and an updated online service center at www.CityOfBerkeley.info/onlineservice.
The 311 Call Center
Creating a consolidated call center has been a major component of the City’s Customer Service Initiative. Anyone within the Berkeley city limits can now dial 311 from a land line to reach the Call Center. Cell phone access is currently in test mode and will be fully operational by December. “By providing one easy to remember, convenient number we want to help community members get the information and services they need as quickly as possible,” said Deputy City Manager Lisa Caronna. Call Center phones are answered 8 a.m. – 5 p.m. on regular City business days.
311 is not a City switchboard - - calls are answered by customer service representatives who can help most callers complete routine City business without being transferred. The most frequently requested transactions include:
Reporting graffiti, potholes, and broken parking meters;
Paying refuse bills and parking tickets;
Requesting general information (City business hours, office locations, etc.);
Changing residential refuse services; and
Reporting a residential or commercial missed garbage pick-up.
The Online Service Center
In a web survey conducted last fall, the top two online services requested by community members were the ability to submit online service requests and to access an online City staff directory. Both services have now been added to the City’s website. The Online Service Center (www.CityofBerkeley.info/onlineservice) is available 24 hours a day, 7 days a week and performs many of the same services as the Call Center, including the ability to report problems such as graffiti, potholes, and illegal dumping.
“We’re excited about these pilot programs, and look forward to getting feedback from the public so that we can make adjustments and improvements,” Caronna said. “The Customer Service Initiative is definitely an ongoing process. We’re glad to announce the 311 Call Center and the new services available at the Online Service Center, and look forward to expanding the scope of services handled by both throughout 2010.”
This represents the median sold price for the zipcodes 94608 and 94609 from October 2008-October 2009. This is obviously another hot area that shows prices have gone up by 17% comparing Octobers with October and from the chart below that shows the months supply of inventory you can see that scarcity is one of the driving forces.
Its a little hard to read but very clear that the median home price in Berkeley showed an increase of 7% this October compared with last October. This is in keeping with what I have been saying. There are lots of Buyers and not enough inventory. conditions are very favorable for buyers with interest rates being low and prices lower than they've been but Berkeley tends to represent the apex of value in the East Bay. People want to live in this wonderfully diverse and progressive community.