Thursday, December 10, 2009

Buying a Condo in Emeryville: Market Update

If you are thinking about buying a condo in Emeryville the charts below  should provide you with some useful information about where the market is trending.  The line on the chart is a polynomial trend line.  At this point you can see that the median sales price is still in decline.
Click on chart to enlarge

The Chart below repersents how long it is taking to sell a condo in Emeryville.  The bars represent the averaage number of days on market it takes to sell an Emerville condo.

  Click on Chart to enlarge

For those who are buying a condo in Emeryville you might also be interested in the months supply of inventory which has shrunk since last November and should begin to drive prices back up a bit and the last chart which indicates the difference in average for sale or list price and the price a property actually sold for.

The red bar represent the price a condo was listed at and the green bar represents the price it actually sold for.  The trend in both situations is downward indicating that right now is a great time for those buying a condo in Emeryville and probably not such a good time to sell.   In gerneral the for sale price has been lower than the sold price except for November 2009 where the sold price was far below the original list. My read is that November was an anomoly but we'll see if the trend continues as we move through the winter.

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