Explaining the East Bay market to buyers, especially first time home buyers, can be challenging. Many listings are listed below value in the hope to create competition between buyers and to drive the price up. This year so far, it seemed that Emeryville wasn’t part of this mind game. Yes, we had outliers, but in general properties went slightly above asking price. September clearly shows a new trend: many units went 10%, in one case 20%, over asking.
Emeryville has mostly condos and townhomes. When a single-family home hits the market, it most likely will go way over asking and fast. In September, a beautifully new constructed house (technically a townhouse, but if feels like a single-family home) at 5534 Doyle street was listed for $798,000 and sold for $915,000 within 13 days.
Overall the market seems steady when it comes to number of properties sold. It is a strong seller’s market with potential to yield high prices for well marketed properties.
By The Numbers:
Types of Homes Sold:
The number of homes sold for September decreased compared to last month at 14 homes sold.
Studios & 1 Bedroom Homes:
The number of 1 bedroom and studios sold decreased from 9 to 5.
2 Bedroom Homes:
The number of 2 bedroom homes sold increased from 5 to 8.
3 Bedroom + Homes:
Single family home sales remained flat with 1 home sold.
Median Sales Price vs. Median List Price:
Median Sales price increased from $543K to $565K. Median List price also increased from $494K to $565K.
Average Days on Market:
The Average Days on the Market for Emeryville homes increased from 13.9 to 20.6.
Sales By Location:
For purposes of identifying sales by location, we have divided Emeryville into four geographic areas.
North Emeryville: 2 Homes Sold.
South Emeryville: 5 Homes Sold.
East Emeryville: 2 Homes Sold
West Emeryville: 4 homes Sold