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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