For the third month in a row, the number of properties sold in Emeryville was down compared to the same month last year. Higher prices, tax changes and rising interest rates are all attributed to this slow start.
That said, there are currently 20 properties pending and 15 properties for sale in Emeryville. We expect to see a substantial increase in April.
March 2018 Rental Report:
Zumper.com published their latest monthly rental report for the Bay Area that covers 30 cities in our region. The report notes that Emeryville had the largest year-over-year rental growth rate, up 15.8%.
- Emeryville was ranked as the third most expensive city to rent
- The price of a one bedroom units fell 1.1% to a median of $2,790
- The price of a two bedroom unit increased 0.5% to $3,740
March 2018 Sales by The Numbers:
The highest priced property that sold was at 1585 Brunswig Lane #2 that was listed for $765,000 and sold for $815,000. The lowest priced property was 1121 40th Street #3102 that listed for $369,000 and sold for $380,000.
Types of Homes Sold:
The number of homes sold in March vs February 2018 increased slightly from 7 to 8.
Studios & 1 Bedroom Homes:
The number of 1 bedroom and studios sold decreased from 4 to 2 .
2 Bedroom Homes:
The number of 2 bedroom homes sold increased from 2 to 6.
3 Bedroom + Homes:
No 3 bedroom or detached homes was sold in March.
Median Sales Price vs. Median List Price:
Both Median Sales price and Median List price increased in February with the sales price rising from $510K to $617K and the list price rising from $425K to 629K.
Average Days on Market:
The Average Days on the Market for Emeryville homes increased from 10 to 27.
Further insights or shopping for an agent?
If you are considering becoming a homeowner, one of your first steps should be getting pre-approval from a lender. Lenders generally require the last two years of tax returns. You might qualify for more than you expect. The sooner you know, the sooner you can strategize on how to become a homeowner and stop subsidizing your landlord’s mortgage. Building equity in your own house is a great investment.