Tuesday, January 5, 2010

Real Estate Market analysis for those who are Buying or Selling a Home iin North Oakland

If you are thinking about buying or sellling a home in North Oakland you'll want to look at these charts.  They cover the period from December 2008 through December 2009 for the combined zip codes of 94608 and 94609 for single family detached homes.  When you look at these you will see why North Oakland makes it on the national list of top ten zip codes for sales price going over list price. Look at this chart:

 Click On Chart To Enlarge

What we see is a 69% price increase from a year ago and two recent months, October and December where the sold price went far above the list price on the average home!  This area continues to be hot.

Click on chart to enlarge

This chart represents the number of homes for sale in these zip codes.  If you are buying or selling a home in North Oakland you want to be aware of these numbers. From a year ago the supply of inventory dropped by a half.  There are not enough properties to keep up with the demand.  If you're planning on buying in this area you should be prepared to offer more than the list price, not that it will necessarily happen but I've seen throughout the summer and fall that good houses tend to go over the asking price and sometimes by a great deal.  If you are planning on selling your home in North Oakland, prepare it with care if you can, paint, upgrade, landscape, refinish wood floors,  and you probably will get top dollar for your home.  I do not expect these numbers to last forever, but North Oakland has been undervalued and it appears to me to be poised to be the next Temescal.  There are numbers of cafes and restaurants opening and proximity to BART, Berkelely, Emeryville, and Freeways along with some real charming homes and nice neighborhoods make it a great choice for many.

If you are thinking about buying or selling a home in North Oakland check this blog for timely information.  Also feel free to call or email bill@billfletcherhomes.com or check out my website http://www.billfletcherhomes.com/ for more information about buying or selling a home in North Oakland, or elsewhere in the East Bay

1 comment:

  1. These charts are helpful for the home buyers but it is fixed for the North Oakland. Can you post more current update charts for other state! Thanks in advance!
    Real-Estate Advice