Emeryville Real Estate Market Report: February 2016

Published On April 18, 2016 | By Leo Peak | Real Estate

For the third consecutive month, the median sales prices in Emeryville have decreased. This is partially attributed to eight of the twelve homes sold in February being 1-bedroom homes, three studios, and only one 2-bedroom. Homes were on the market for only 18 days in February, compared to 34 days in January. On average, sales prices were 4.3% over the list price.

The Emeryville Real Estate Market is anticipated to pick up through the spring season. We’ll likely see more 2-bedroom homes come on the market and continue to sell quickly for over asking.

Feb-16-Monthly-Report---Breaking-It-Down

Studios
There were three studio homes that sold in February. Sales prices ranged from $275,000 to $360,000, with a median sales price of $280,000. These studios ranged from 432 to 565 square feet and were on the market for an average of 17 days.

One Bedroom Homes
Eight of the 12 homes sold were 1-bedrooms, ranging from 530 to 1,223 square feet. Sales prices ranged from $320,000 to $675,000, with an average of 20 days on the market. The median sales price decreased to $377,000, down $3,000 from January. Year to date, 13 of the 18 homes sold in Emeryville have been 1-bedroom homes. This number is up significantly compared to 2015 with only five 1-bedroom homes sold over the same time period.

Two Bedroom Homes
One 2-bedroom home sold in February. The home is 1,056 square feet, sold for $560,000, and was on the market for 11 days. This is only the second 2 bedroom home sold this year. Ten 2-bedroom homes sold this same time last year.

Feb-16-Monthly-Report---Month-Over-Month-Charts


Sales By Location

For purposes of identifying sales by location, we have divided Emeryville into 3 parts:

Emeryville-SectionMap

Area A (North of Powell): 1 studio, 3 one-bedrooms, and 0 two-bedroom homes, for a total of 4 sales.

Area B (South of Powell): 0 studios, 1 one-bedroom, and 0 two-bedroom homes, for a total of 1 sale.

Area C (West of I-80): 2 studios, 4 one-bedrooms, and 1 two-bedroom home, for a total of 7 sales.


Homes of the Month

6400 Christie Avenue #2418

6400 Christie Avenue #2418 Kitchen

6400 Christie Avenue #2418 Living

Listed by: Alain Pinel Realtors

6400 Christie Avenue #2418 is a light filled studio situated on the top floor in the Bridgewater complex. This home features a beautiful kitchen, a sleeping alcove, and a deck for you to enjoy a morning cup of coffee.

6400 Christie Avenue #2418 is a light filled studio situated on the top floor in the Bridgewater complex. This home features a beautiful kitchen, a sleeping alcove, and a deck for you to enjoy a morning cup of coffee.

6400 Christie Avenue #2418 was listed at $299,000 and sold for $360,000 with 19 offers. This home was on the market for only 16 days.

Bridgewater is a condominium conversion consisting of 424 total units, located adjacent to the Public Market. The community boasts abundant amenities including: 24-hour security, swimming pool and spa, dog run, yoga studio, dry sauna, fitness center, club room and landscaped courtyard. Individual units feature recent updates like stainless steel appliances and granite countertops along with existing elements like private balconies and walk-in closets.


1200 65th Street #212

1200 65th Street #212 Living

1200 65th Street #212 Kitchen

Listed by Sothebys International Realty

1200 65th Street #212 is located in Oliver Lofts. This large 1-bedroom is 1,223 square feet and features radiant floor heating, floor to ceiling windows, and a unique office space. Light is abundant throughout, and the open floor plan is ideal for entertaining.

1200 65th Street #212 was listed at $649,000 and sold for $675,000 after only 10 days on the market.

Oliver Lofts is a converted industrial building, formerly serving as the Oliver Tire and Rubber Company’s factory.  It was converted in 2002 into 50 residential units.  Designed by NHP Architects, Oliver Lofts features modern preferences like open floor plans, high ceilings and skylights, while maintaining the original charm of the building, as seen in the restored freight elevator. The building has secured entry and some of the units feature patios. Shared amenities include a landscaped courtyard and rooftop deck.

 

About The Author

Born and raised in San Francisco, Leo moved to Emeryville in 2010, where he and his wife started their family. Leo is particularly fascinated with the warehouse revivals and newer construction residential buildings in Emeryville. You can catch him on daily walks with his family and terrier-poodle along the Greenway. Follow Leo on instagram @leojpeak or visit leopeak.com.

2 Responses to Emeryville Real Estate Market Report: February 2016

  1. Jan says:

    Thanks so much for the thorough review and analysis of E’ville real estate!! This is a great monthly feature, and it’ll be interesting to see how this area changes with more residential units on the rise.

    • Leo Peak says:

      Hi Jan, I’m glad it’s been useful for you! I agree that it will be interesting to see how the trends and values will respond with all the rental units popping up and with the addition of new businesses.

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