Leo PeakEmeryville’s Real Estate market started off strong in 2016 with more homes sold in the first quarter than the previous year. Overall, the total number of homes sold decreased by 6% in 2016. As a result, the total sales volume also decreased 4% ($87.4M in 2015 vs $83.9M in 2016).
Some other notable sales data:
- The median sales prices of all homes in Emeryville increased by 8.9% in 2016 to $500,000
- The median sales price of studios went from $271,500 in 2015 to $322,500 in 2016
- One bedroom homes also increased from $410,500 to $415,000
- Two bedroom median sales price stayed the same at $640,000
- Emeryville had 165 homes sold in 2016
2016 by the Numbers:
2015 vs 2016:
+8.9% increase in Median Sales Price
-2.2% decrease in Median List Price
-4.1% decrease in Total Sales Volume
-6.3% decrease in total number of homes sold
+4 day increase in average days on market
-10.3% decrease in average square feet
Sales By Location:
For purposes of identifying sales by location, we have divided Emeryville into three areas.
- Area A includes: City Limits, Liquid Sugar, Oliver Lofts, Glashaus, Bridgewater, Pacific Park Plaza, The Terraces and Elevation 22
- Area B includes: Bay Street One, Emery Bay Village, Vue 46, Blue Star Corner, Emeryville Warehouse, Besler Building, Green City Lofts and Andante
- Area C includes: Watergate
Sales By Building:
Most of Emeryville’s housing stock consists of Condominiums with 17 “large” condominium complexes. Not surprisingly, the Watergate had the highest volume of sales with 57 units sold (Watergate’s six low-rise buildings encompass 1200 units and 26 acres). Blue Star Corner had the highest median sales price and square footage at $865K and 1,623 respectively. Liquid Sugar and Emery Bay Village each had the shortest average duration on the market at 14 days.
Sales By Number of Rooms:
Of the 165 homes sold in Emeryville in 2016:
26 – Studios
77 – One Bedroom
61 – Two Bedroom
Studios:
26 – Homes Sold
$322,500 – Median Sales Price
508 – Average Square Feet
$540,00 – Highest Sale
One Bedroom:
77 – Homes Sold
$415,000 – Median Sales Price
794 – Average Square Feet
$680,00 – Highest Sale
Two Bedroom:
61 – Homes Sold
$640,000 – Median Sales Price
1,191 – Average Square Feet
$890,00 – Highest Sale
2017 Forecast:
A major milestone for the city in 2016 was the opening of the Emeryville Center of Community Life which acts as a hub for community services and is home to both the elementary and secondary schools of the EUSD. School performance is a well established criteria of a home’s value and appreciation and should be monitored. 2017 will see new amenities for the city including Bike Share the highly anticipated New Seasons Market grocery store amid the ongoing Public Market renovation. In our assessment, there are no signs of slowing down Emeryville’s growth and value to its residents.
You can download the complete printable PDF version of this report from leopeak.com.
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