MARKET REPORT Oakland and Piedmont CA, November 2011 review of 3-year median list and sold prices

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Real Estate Agent with Alain Pinel BRE 01367196
http://actvra.in/nTl

OAKLAND CA MARKET REPORT

Zip code 94611 encompasses desirable Oakland areas of Montclair and Rockridge, as well as the city of Piedmont --- famed for good school districts, fabulous high-end shopping and fine dining, and affluent residents.

Zip code 94611 Oakland and Piedmont CA

 

Drop in market value

But like nearly all cities in the nation, zip code 94611 has also seen its share of drop in market values. Looking at a 3-year time period starting from third quarter 2008 to Q3 2011, there is a marked decline of 16% in median sold price.

Lower prices coupled with the lowest interest rates in forty years present an excellent opportunity for buyers who have aspired to buy or move up in these areas.

It is important to note that in Q3 2011 median listing price matches median sold price, which is a significant departure fromQ2 2011 wherein median sold price was considerably higher --- $860K median sold price versus $770K median list price, or approximately 10% difference.

During this 3-year study period, in only two quarters -- Q3 2010 and Q2 2011 --- did the median price sold exceed median list price. This could mean that sellers are still unrealistic and tended to price them higher than market value.

 

Oakland and Piedmont real estate median prices

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Topic:
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California Alameda County Oakland
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oakland ca real estate median price
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median list price versus median sold price
zip code 94611 r

Comments 5 New Comment

Rainmaker
639,029
Elite Home Sales Team
Tenacious and skilled real estate team
Keller Williams Realty

It is a time where we are seeing a drop in a lot of the markets around the country.

November 30, 2011 01:32 AM
Rainmaker
657,458
Pacita Dimacali
Alameda/Contra Costa Counties CA
Alain Pinel

Mark

Some areas thought they were "immune" from the market downward trends, and they are to a certain extent in terms of the drop not being quite as drastic as some other cities.

Hope all is well with you.

November 30, 2011 01:39 AM
Rainmaker
1,276,370
Sally K. & David L. Hanson
WI Realtors - Luxury - Short Sale - CDPE, REDS
Keller Williams 414-525-0563

One more acclamation of "it's a great time to buy"!

November 30, 2011 07:45 AM
Ambassador
779,757
John McCormack
AlbuquerqueHomes.com
Albuquerque Homes Realty * www.AlbuquerqueHomes.com

Contact Pactia Dimacali for all your Oakland and Piedmont California real estate needs!  Pacita is ready to exceed all your real estate needs!

November 30, 2011 09:46 AM
Rainmaker
657,458
Pacita Dimacali
Alameda/Contra Costa Counties CA
Alain Pinel

Sally and David --- wondering why people don't list in the winter months. Serious buyers don't stop looking, and there are fewer properties to compete with

John -- how very nice of you! May I say the same about you. Thanks!

November 30, 2011 12:44 PM
Rainmaker
657,458

Pacita Dimacali

Alameda/Contra Costa Counties CA
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