Emeryville Real Estate & Rental Report: June 2018
Traditionally, the real estate market slows down in summer as people travel for vacation. Emeryville seems to be bucking that trend this year as home sales increased from May.
The Average Days on Market (ADM) also saw a significant year-to-year decrease falling from 23.5 days in 2017 to 16 days this year.
We also sew trends in sold versus asking price. In June 2017, properties in Emeryville sold on average 5% over asking price. In June 2018, properties went 10% over asking price.
Of the 20 sales in Emeryville in June:
- 11 went over asking between 0% – 10%
- 8 went over asking between 10%-20%
- 1 went over asking between 20%-25%
Among these 20 sold properties, 6 were all cash offers and 14 buyers utilized financing.
There are currently 20 active listings in Emeryville that range in price from $140,500 (a Below Market Rate Unit) to the above $829,000 townhouse at 1285 65thStreet. Browse all Emeryville listings on EastBayModern.com.
June 2018 Rental Report:
Zumper.com published their latest monthly rental report for the Bay Area that covers 30 cities in our region. Emeryville dropped from fourth to the fifth highest rents in our region. Despite this decline, the price of one bedroom units increased 3.1% to a median of $3,000. Two bedrooms increased 1.6% to $3,830.
June 2018 Sales by The Numbers:
In June, the lowest sale price was $444,000 for a 567 sq. ft. 1 Bed Room on Commodore Drive. The highest sales price was $950,000 for a 1598 sq. ft. 2 Bed Room loft in the Besler Building.
Types of Homes Sold:
The number of homes sold in June increased from 15 to 20.
Studios & 1 Bedroom Homes:
The number of 1 bedroom and studios sold increased from 8 to 11.
2 Bedroom Homes:
The number of 2 bedroom homes sold increased from 7 to 9.
3 Bedroom + Homes:
No 3 bedroom or detached homes were sold for the fourth consecutive month.
Median Sales Price vs. Median List Price:
Both median sales and list price decreased in June with the sales price decreasing from $599K to $584K and list price from $590K to 552K.
Average Days on Market:
The Average Days on the Market for Emeryville homes also decreased slightly from 17 to 16 days.
Help me help you?
I would love to add a Q&A section to our monthly Emeryville market reports. Have any questions about the Emeryville Market or need any clarifications? Email East Bay Modern REALTOR® Nicole Gruen→.