For some uncanny reason the last 2 Oakland homes I lived in are on the market at the same time!
When we sold our home in 2006 we caught the market as it was starting to drop, not catching the highest price but happy we timed it when we did.
Below are charts showing the rise and fall of several east bay neighborhoods from 2005-2015!
If you’ve been waiting to sell the sellers market does not usually last for a very extended period of time!
Berkeley home prices have soared to new heights in the last couple of years. Always tight on inventory, prices never dropped as significantly as in some areas.
Piedmont prices have risen astronomically, with quality homes, easy commutes and schools ranked top 10 in the nation.
Rockridge homes have increased significantly in value due to proximity to urban amenities and the desire for convenience. Their fall was less precipitous than in many areas.
Glenview homes are being sought by buyers priced out of Crocker Highlands.
Montclair homes rose a little more slowly with many buyers liking the good schools but preferring walkable locations with a more urban vibe.
94602 includes The Oakmore, The Laurel and Dimond areas. Many of these homes are selling at record highs with the less pricey areas within 94602 still moving up in value.
Areas below MacArthur took a big hit when prices fell and had more ground to recover.
Redwood Heights has been slower to rise in value, despite the well regarded elementary school there is no central destination which drives other neighborhood prices.
Many homes in the 94605 zip code have not overtaken the height of the market but many have fully recovered values.
Expect to see the lower end of the market and condos continue to climb in 2015 as buyers are priced out of neighborhoods and compete for the more moderate end of the market.
