Oakland, Berkeley, Piedmont & City of Alameda Real Estate |
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1085 54th St | Oakland | $849,000
2 bed/2 baths 1484 Sq Ft. Hardwood Floors Parking for 2 cars Casita with separate entrance Stainless Steel Kitchen Appliances Close proximity to public transportation Beautiful outdoor space with deck and fountain
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With April’s end, we now have 2 months of spring season data unaffected by market activity at the end of 2018, when financial markets plunged. By early May 2019, stock markets had recovered to hit new highs (though there has been some subsequent volatility), interest rates are far lower than last year’s peak, and local unicorn IPOs have begun to roll out after a media frenzy of speculation regarding their potential effects on real estate markets.
The greater Oakland-Berkeley area market remains the strongest in the Bay Area. Many local counties have seen significant softening in their supply and demand dynamics, sometimes accompanied by year-over-year declines in median home sales prices. So far, this has not happened here: Its relative affordability compared to SF, San Mateo and Santa Clara Counties is certainly a major factor. |
Monthly Median House Sales Prices - 2 Years |
This first chart looks at the combined median house sales price for the 4-city region. No single month's median price should be regarded as a definitive indicator of market conditions, and 2 more months of spring sales data are yet to come before summer, when the market usually slows.
In 2018, median house sales prices continued to increase to hit an all-time peak in June. Comparing year-over-year Q2 - April through June - statistics will be a major indicator of market trends. |
This table compares the March-April market statistics of 2018 and 2019. Individual city median house sales prices have ticked up, and sales have increased, both in the overall market and in higher price segments. The huge jump in Alameda County price reductions delineated below is likely concentrated in cities closer to Santa Clara County (which has seen considerable cooling in its market since last summer). |
Home Sales by Price Segment & Bedroom Count |
An illustration of the last 12 months of house and condo sales broken out by price range and number of bedrooms. These sales are spread among a large number of very different markets within the 4-city area covered by this report. |
House Sales Volumes, Median Prices & Sizes |
The next chart breaks out the number of house sales over the past 12 months by city or sub-market, with median house sales prices and median square footage. (Median means half the sales were for more, or larger size, and half for less, or smaller size.) Note that the Oakland and Berkeley neighborhoods listed represent larger MLS areas or zip codes. |
Condo Sales Volumes, Median Prices & Sizes |
Higher-Price Home Sales, $1.5 Million+ |
Q1 2019 Highest-Priced Homes Market |
The highest priced home segments of most Bay Area markets - which start at varying price thresholds - are significantly weaker than that market segment here.
Q2 is typically the most active quarter of the year for luxury home sales. |
Home Size & Era of Construction |
Many factors influence home construction size during any particular period: Affluence, economic conditions, household size, buyer age, land costs, population growth, natural disasters, bridge construction, etc. Generally speaking, the median sizes of houses built in the Victorian and Edwardian eras were somewhat larger than those constructed in the 1920's and 1930's. From 1940 on - after the completion of the Bay Bridge in 1936 - they began increasing again until reaching the current median size of just over 2200 square feet. The figures below are based on recent home sales, and over the intervening decades since original construction, adding a second bathroom and/or a third bedroom behind the garage to older homes were popular renovations. Over the past few decades, condos have become a major alternative for people purchasing homes of smaller size. |
Selected Demographic & Economic Factors |
Increases in population obviously play a large role in housing markets, as they pressurize demand. Alameda County is not the most populous county in the Bay Area - that is Santa Clara County - but, since 2010, it has seen the highest growth rates by number and percentage increase (10.4%) in residents. For the latest 12-month period measured by the census, through July 1, 2018, its increase in residents has far outstripped other Bay Area counties, i.e. Alameda continues to be a big destination for those relocating to or within the region. |
Venture Capital Investment |
In recent years, the Bay Area has been the biggest destination of venture capital investment dollars in the country - and probably the world. These tens of billions of dollars have constituted a massive factor in the local economy, supercharging the creation of new companies, hiring, and, eventually, IPOs. Ultimately, venture capital is seed money that in the last decade has exploded into the creation of stupendous amounts of new wealth. |
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SOLD! 432 Athol Ave, Oakland 4 BD | 1.5 BA | 2,020 SQ FT | $965K A chance to live near Lake Merritt, the jewel of Oakland. A timeless classic in need of restoration. Hardwood floors throughout. Beautiful architectural columns in living and dining rooms. Large backyard with patio and grassy area. Blocks to lake Merritt where you can walk around the lake, stroll to the weekend farmers market, or catch a movie at the Grand Lake Theater. |
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SOLD! 4887 Shattuck Ave, Oakland 2 BD | 2 BA | 1,752 SQ FT | $960K This contemporary loft-style townhome is located in the heart of Temescal! Built in 2009, this unique 3-story corner end unit has 2 parking spaces, 2+ bedrooms including a bonus room & mezzanine, & 2 baths. Close to MacArthur BART, restaurants & shops! |
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SOLD! 1018 4th Ave #124, Oakland Studio Loft | 1 BA | 960 SQ FT | $660K This warehouse conversion loft is sure to spark your creativity. Soaring ceilings, exposed brick facade, and beautiful structural elements, this loft truly has it all. The spacious full bathroom has been thoughtfully updated and includes an in unit washer and dryer and custom lighting. With the Lake Merritt BART station just .6 miles away, and with easy freeway access, the location is a commuter’s dream! |
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© Compass 2019 ¦ All Rights Reserved by Compass ¦ Made in NYC
Compass is a licensed real estate broker (01991628) in the State of California and abides
by Equal Housing Opportunity laws. All material presented herein is intended for informational
purposes only. Information is compiled from sources deemed reliable but is subject to errors,
omissions, changes in price, condition, sale, or withdraw without notice. No statement is made
as to accuracy of any description. All measurements and square footages are approximate. Exact
dimensions can be obtained by retaining the services of an architect or engineer. This is not
intended to solicit property already listed
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