Posted to: Alameda County

Buyers Should Strike

HP_4

break down the doors!

Attention Buyers: it is time for you to strike! This crazy market has got to stop.

Buyers are being forced to remove not just their inspection contingency, but their financing contingencies as well, even if they are getting a loan.  Buyers are more confused than ever about where the value lies.  “The Berkeley market is no longer about numbers and logic, it is about emotion, exhaustion, and giving in” said Michelle, a buyer.  “I have been writing offers in Berkeley for the past year and now I am priced out.”

And it has gotten crazier this year.

Check out the list price to sales price over a 30 day trend:

Albany: 114% over the list price
Berkeley: 113%
El Cerrito: 112%
Kensington: 120%
Oakland: 108%

Average Sales prices:

Albany: $750,000
Berkeley: $1,091,170
El Cerrito: $615,833
Kensington: $1,030,200
Oakland: $615,429

Alameda prices are now what Berkeley was two years ago.
Castro Valley has caught up to El Cerrito
San Leandro has caught up to the Richmond Hills.

QUESTIONS WE HEAR:

“What will create change?”  More listings, less buyers.
“If we have more listings will prices go down?”  Probably not.  But the list price to sales price will become a smaller spread.
“When will more listings come on?” I wish I knew, but all signs are pointing to a flourishing Spring market.

 

 

Discussion

2 comments for “Buyers Should Strike”

  1. So true! Such a tough market for buyers!

    Posted by Krista Miller, Realtor on Facebook | March 18, 2015, 4:28 pm
  2. Agree! It’s crazy out there !

    Posted by Rosie Papazian on Facebook | March 18, 2015, 8:58 pm

Post a comment

Welcome to East Bay Living Real Estate

Hi friends! We are Krista + Rosie, the brains behind the East Bay Living website. Powered by Berkeley Hills Realty we are a top producing real estate team working {and having fun} in Berkeley, Oakland and the surrounding areas. From buying + selling to DIY + home decor to plumber + gardener recommendations we are your one-stop-shop for all things real estate.

Recent Posts

Food Drive For The Alameda Community Food Bank
November 1, 2017
By Krista Miller
The Heat of the Market
October 4, 2017
By Krista Miller
Albany September Market Stats
October 2, 2017
By Krista Miller
Peaceful Retreat in the Heart of Hercules
September 27, 2017
By Krista Miller
2 Open Houses Today 
June 18, 2017
By Krista Miller

Archives