Emeryville Real Estate Market Report: September 2015
Emeryville homes continue to grow in demand, as evidenced by the large increase of median sales prices in recent months. The combination of Emeryville’s central location, proximity to San Francisco and more and more companies planting their roots here makes it highly desirable.
Overall list prices in September went up 21%, with a median of $499,000 from $412,750 in August. The median sale price also went up 24% at $542,000 from $437,000 in August.
*Data based on all studio, 1 & 2 bedroom condos and townhomes sold in Emeryville, CA in September 2015 (excludes BMR units). Information contained herein is deemed reliable, but not guaranteed.
MONTH OVER MONTH TRENDS:
Studios: There was a single studio home sold in September, sold at $345,000. It is 565 square feet and was on the market for only 2 days before it went into contract.
One Bedrooms: 10 of the 16 homes sold in September were one bedrooms, ranging in size from 482 square feet to 1,428 square feet. Sales prices of these homes ranged from $315,000 to $650,000, with an average of 16 days on the market.
Two Bedrooms: Five homes sold were two bedrooms, ranging in size from 859 to 1,598 square feet. Sales prices of these homes ranged from $520,000 to $833,000, with an average of 20 days on the market.
SPOTLIGHT HOMES OF THE MONTH:
This month’s spotlight homes are two live/work lofts, featuring exposed elements from the original warehouses they were converted from. Both units sold for a significant amount over their list price.
Listed by: Ann Wilkins, Bay Sotheby’s Int’l Realty
1250 Powell Street #6 is a large, light-filled live/work loft and part of the Powell Street Lofts, an old warehouse conversion. The home maintains much of the charm from the original warehouse, including exposed brick, beams and windows. The high ceilings and open floor plan give the space an expansive feel. This particular home boasts a skylight, private deck, solarium and newer stainless steel appliances. It is 1,200 square feet with 1 bedroom and 1 bath.
1250 Powell Street #6 was listed at $499,000 and sold for $66,000 (13%) over asking at $565,000.
Powell Street Lofts is an old 1940’s garment factory that was converted into homes in 1994. It is a 10 unit building with secured storage and parking. The Powell Street Lofts also features a shared rooftop deck.
Listed by: Kristen Thompson, McGuire Real Estate
4300 Horton Street #2 is an elegant 2 bedroom, 2 bath live/work loft with a spectacular master bath. The bath boasts a large skylight, showcasing the extra large retreat. The main floor has a combination of hardwood and concrete flooring, fitting alongside the exposed brick wall and exposed beams.
4300 Horton Street #2 was listed at $649,000 and sold for $833,000 – $134,000 (19%) over asking.
Horton Street Lofts was Emeryville’s first commercially zoned live/work project. The warehouse conversion was completed in 1993 by Costarella Architects. The building is divided into 15 units, featuring skylights, exposed brick, high ceilings and oversized windows that exude an industrial feel throughout. Units in this building range in size from 1400 square feet to over 1800 square feet. Some lofts feature private entranced and a split level design, conducive to the live/work functionality of the space.
SALES BY LOCATION:
For purposes of identifying sales by location, we have divided Emeryville into three parts:
Area A (North of Powell): 1 studio, 5 one-bedrooms & 3 two-bedroom homes for a total of 9 sales.
Area B (South of Powell): 4 one-bedroom condos, and 2 two-bedroom homes for a total of 6 sales.
Area C (West of i80): 1 one-bedroom condo, for a total of 1 sale.