Real Estate Update in Oakland and Berkeley


  • Sold properties Median Price $726k down from $762k in Nov 2008
  • Sold units 43 up from 25 in Nov 2008
  • Current for sale properties Median price $699k same in Nov 2008
  • Units for sale 131 down from 159 in Nov 2008
  • Months supply of inventory at 1.7 down from 3.3 in Nov 2008
  • Days on Market at 65 up from 37 in Nov 2008


  • Sold properties Median Price $254k up from $200k in Nov 2008
  • Sold units 220 same from 219 in Nov 2008
  • Current for sale properties Median price $235k from $188k in Nov 2008
  • Units for sale 870 down from 1934 in Nov 2008
  • Months supply of inventory at 1.8 down from 6.2 in Nov 2008
  • Days on Market at 39 down from 61 in Nov 2008
  • Median price in Nov 2007 was $400k

The Real Estate 411 in Oakland and Berkeley

The two charts, provided by Altos show this week in real estate in Oakland and Berkeley.  This is an overview so it includes homes in excellent and in poor conditions, (and every  neighborhood).  To get a better sense of the market, email me.  Some properties are still flying off of the market due to high demand and the lack of quality inventory.  - Deidre


New Listing in Montclair


Can I plug my newest listing? This house is perfect for the buyer who wants SPACE, 3409 square feet of space.  There is also Golden Gate, Bay Bridge and South Bay views from almost every room.  The rooms do say, "I was built in the 1970's"  but the lay-out is supreme.  Some TLC is needed, but this house is totally move-in ready!  Oh, did I tell you the price? $699,000!

Thanks for reading!  - Deidre

1895 Manzanita
1895 Manzanita

How is the Economy? Let's Check In,

Senior Mortgage Consultant and Branch Owner of RPM Mortgage in Berkeley, Chet Gohd's market update:

We saw some encouraging news this morning with the Fed's Beige Book report, its somewhat of a glass half-full scenario with a hole in the bottom of the glass ..First the CNN report, then the Chet update;

The economy has shown signs of stabilizing or modestly improving in recent weeks, according to the latest Federal Reserve snapshot of regional economic conditions. "Reports of gains in economic activity generally outnumber declines," the Fed said Wednesday in the latest edition of its Beige Book. "But virtually every reference to improvement was qualified as either small or scattered." The Beige Book, published 8 times a year, is a summary of economic conditions in the central bank's 12 districts. It precedes, by about two weeks, the central bank's scheduled policy meeting at which interest rate movement is discussed. The housing market and manufacturing activity, which have been improving since the summer, were two bright spots in the October report. However, commercial real estate remains a concern, with all 12 districts reporting weak or deteriorating conditions in that sector. (end of story).  For example, the section at Home Depot where they sell "For Lease" signs is sold out and on back order!

It's often challenging to see much improvement on a day-to-day basis. It's easier and usually more reliable to use the data coming from various metropolitan areas throughout the country where the measurements can be weighed and scaled. We are in a complicated situation here..The Fed realizes that they see improvements but they are very small and thus we are vulnerable to falling backward( as opposed to falling forward). For this reason, they are not looking to pull the stimulus infusions back just yet but also may no longer be exploring new forms of stimulation as any program needing governmental approval has to compete with the healthcare debate, a war against terrorism and a midterm election next year.