The Central and South Berkeley Real Estate Report, October, 2010

We are solidly into the 2nd half of the home buying/selling season. And from all accounts it appears to be anything but robust. If you are looking to purchase a home or investment property in South or Central Berkeley there may never be a better time. We know that interest rates are low and will stay that way at least until the elections in November. And inventory is higher than it has been for quite a while. And most importantly, there are fewer committed buyers out there right now.  (I think most buyers are not sensing any kind of urgency.) These three facts represent a strong buyers market, perhaps for the first time in South and Central Berkeley.

Our area has shown tremendous resilience throughout this economic downturn. Nevertheless, expect prices to drop a bit even more as we enter the fourth quarter. Remember you heard it here first.

Over the past few years we have helped many individuals with trust sales, probates, short sales, home loan modifications, reverse mortgages, property valuations and more. If you need help please feel free to give me a call. I live in the neighborhood and am happy to offer my assistance.

Address             Type      Bedrooms Baths      List Price     Sold Price      Days
2550 Dana St    Condo        1 1                     $280,000     $280,000       36
3113 Shattuck   Condo        1 1                      $319,500     $319,500      44
2628 Telegraph. Condo       2 2                      $579,000      $588,000     5
1314 Harmon    Detached    2 1                      $234,900      $245,000    26
1723 Derby St   Detached    2 1                     $449,900      $429,000     62
1631 Allston     Detached     2 1                     $449,000      $450,000      15
2909 Dohr St    Detached     2 1                    $449,000      $450,000       8
2722 Acton St   Detached    2 1                     $465,000      $465,000     16
1625 Tyler St    Detached     2 1                     $509,000      $535,000     14
2611 Mabel St Detached     2 2                      $549,000      $554,000     24
1209 Parker     Detached     2 1                     $599,000       $579,000     22
1534 Dwight     Detached     2 1                     $550,000       $590,000     12
1526 Julia St     Detached     3 1                      $250,000      $225,000     25
2751 Park St     Detached    3 2                      $288,666      $300,000     11
2759 Dohr St    Detached    3 2                      $499,000      $530,000     12
1542 Blake St.   Detached    3 2                       $549,000    $555,000     19
2229 Blake St    Detached    3 1                      $625,000     $650,000      7
1807 Blake St   Detached     3 1                      $619,000     $660,000      9
2730 Milvia St   Detached     3 2                      $699,000      $720,000    14

I’m always walking the streets of south and Central Berkeley with my daughter, my wife, and our dogs. If you see me please say “Hi.” – I promise to say “Hi” back!

For more information about the real estate markets in the Easst Bay please check out my website. http://www.billfletcherhomes.com/.

If you want to find out whatt your home is worth in todays market feel free to call or email me for a home valuation. bill@billfletcherhomes.com, 5100-368-2854.

Buying or Selling a Home in Berkeley 94702

If you are buying or sellilng a home in Berkeley in the 94702 zip code you'll want to read these charts .  The median price of homes in the 94702 zip code declined by 7% over the past two years.  At the same time we are seeing a much smaller amount of time on the market and a lesser amount of inventory. Don't be surprised if prices begin to rise.
                          Click on Charts to Enlarge

In the 94702 zip code this week we saw relatively little price change from
last week. However, we continue to demonstrate a nice up trend
in general over the last several weeks.
In terms of supply and demand, the market is getting cooler - more
supply is coming on the market relative to the sales demand.
However, in recent weeks prices have been moving higher. Since it is
technically a Buyer's market, this price trend may be a result of
improved quality (newer, larger homes) of the homes being listed.
Look at the descriptive statistics where you may notice the homes
being listed are larger and younger than they have been in the past.
Inventory has been decreasing lately but the Market Action Index is
falling also.

Buying or Selling a Home in South Berkeley

If you are planning on buying or selling a home in South Berkeley (historically known as The Lorin) these are statistics you should have.  I get them weekly and will try my best to post but if I don't get them up and you'd like a copy please email me and I'll send out the sheet to you as soon as I can.

This is for zip code 94702 

(CLICK ON IMAGE TO ENLARGE)

The Chart Below is for zip code 94703

CLICK ON IMAGE TO ENLARGE

Remember, if you are planning on buying or selling a home in Berkeley, to check back here for the most current information you can get.  And don't forget to use my website: http://www.billfletcherhomes.com/ or feel free to email me at bill@billfletcherhomes.com for information, home valuations or other real estate related needs.

East Bay Realtor update: Berkeley Residential Real Estate Median Price October 08-October09

Click on to enlarge

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.

Please visit my website for more information about East Bay Residential Real Estate: http://www.billfletcherhomes.com/