Emeryville Real Estate Market Report: January/February 2018

Published On April 4, 2018 | By Nicole Gruen | In the Neighborhood, Real Estate

2018 got off to a rather slow start in regards to home sales. While the numbers for January remained steady year-to-year with four sales in 2017 and 2018, we saw significantly lower sales in February with only seven sales this year compared with twenty last year.

Inventory is much tighter overall in the East Bay. We speak of a ‘sellers market’ when inventory is at a 3 months supply or lower. The current supply for the East Bay is below 2 months.

Many homeowners are holding on to their property for various reasons such as:

  • The average homeowner is now living in their home for a longer duration (Now 10 years versus only 5 years a decade ago).
  • Many current homeowners have locked in a lower, fixed-rate mortgage and are reluctant to take on a new, higher rate by moving (mortgage rates are still historically low).
  • With rising prices all over the bay area, homeowners don’t know where to go.

That said, deals for buyers can still be found. Every situation is different and determined buyers shouldn’t shy away from jumping into the market. With rising rents, it still might be cheaper to buy if you intend on staying put for a few years. I recommend using a rent vs buy calculator to find out where you stand. You should speak to a lender and get prequalified (we can recommend someone).

If you own a property, it might be the perfect time to sell!

January 2018 by The Numbers:

February 2018 by The Numbers:

Types of Homes Sold:

The number of homes sold for February increased from 4 t0 7.

Studios & 1 Bedroom Homes:
The number of 1 bedroom and studios sold increased from 3 to 4 .

2 Bedroom Homes:
The number of 2 bedroom homes sold increased from 1 to 2.

3 Bedroom + Homes:
The number of 3 bedroom homes sold increased from 0 to 1.

Median Sales Price vs. Median List Price:

Both Median Sales price and Median List price decreased in February with the sales price dropping from $562K to $510K and the list price decreasing from $538K to 425K.

Average Days on Market:

The Average Days on the Market for Emeryville homes decreased from 26 to 10.

Further insights or shopping for an agent?

Email East Bay Modern REALTOR® Nicole Gruen→.

About The Author

Born and raised in Germany, I moved to Emeryville (Hollis Corridor) in 2012 to escape the bad weather of San Francisco. Living on the greenbelt in one of Emeryville’s ‘painted ladies’, I take advantage of the walkability of the neighborhood and am known to stop dog owners to have lengthy petting sessions with their pooches. After a successful IT career and being burned by the stock market, I invested heavily in real estate. The transition to become a realtor seemed natural. I love helping buyers and sellers yield optimal results. Just as in IT, my goal is to stay in budget, scope and time and to leave my clients happy.

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