Berkeley-Oakland Real Estate

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Multiple Offers Abound in Berkeley/Oakland Real Estate. Happy Spring!

1401 Cornell in Berkeley, CA just recently sold after receiving 5 offers!

The 2012 home buying season in Berkeley/Oakland has started off with a bang... as in on your marks, get set, GO! 

There are more Buyers ready to buy.  And more Buyers offering on the same house ... as in “Multiple Offers.”  While a lot of real estate agents are bemoaning the lack of “inventory” or homes for sale, there actually have been more homes sold or go into contract in both Berkeley and Oakland since the first of this year – compared to last year.

Fortunately for Sellers, more active Buyers translates into a turnaround in prices compared to last year.  A quick look at Berkeley home sale stats, for instance, shows the average sale price in Berkeley to be $635,066, or 4.5% above the asking price.  Compare this to last year – when the sold price was $620,988, or slightly under the asking price.  

Average Oakland sale prices are up slightly over the same period last year ($312,710 versus $305,169).  Sale prices are just slightly below (less than 1%) the asking prices.  If anything, this shows a stabilizing housing market for Oakland. 

So hallelujah!  The tide has turned.  Spring has indeed begun. 

The photo above is of a listing of mine in Berkeley that just recently got five offers and went a fair amount over asking!

To check out my other listings or homes for sale, go to www.BarbaraReynolds.com.

Barbara Reynolds, your East Bay real estate specialist 

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Comment balloon 2 commentsBarbara Reynolds • March 20 2012 12:06PM

Comments

Barbara... multiple offers are always so much fun to work.  This is just one more sign that the real estate market is back on the upswing.  I am glad for you that your area is doing well.

Posted by Karen Anne Stone, Fort Worth Real Estate (New Home Hunters of Fort Worth and Tarrant County) about 6 years ago

Gee, with homes selling like hot cakes I can't understand why sellers still pay 6% to a realtor, what a great scam!

Posted by Bob about 5 years ago

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