If you are planning on buying or selling a house in the Lorin District of South Berkeley (which is almost the same as zip code 94703) the charts below may prove useful:
The first chart shows a year's comparison of Median home prices. The second chart shows number of days on market and the third indicates the months supply of inventory. Typically as the numbers on charts 2 and 3 decrease the numbers on chart 1(sales price) should increase. This is basic suply and demand economics. From these charts you can easily see that the price trend is upwards. I expect that prices will level off a bit as interest rates increase, but consider the approximation to Ashby BART and the relative inexpensiveness of homes in this area and you may come to the same conclusion that I have, namely that prices will appreciate more rapidly in this area than in many others once the economy turns.
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