October 2018 Emeryville Real Estate & Rental Report: Rare Sales of Two Single Family Homes
Single family homes in Emeryville are a very desired commodity. In October, Emeryville saw two sales of single family homes which is rarity. 5855 Vallejo Street listed for $749,000 and sold for $950,000 within 13 days, receiving five offers. 1027 47thSt (shown above in the featured image) was listed for $995,000 and sold for $1,305,000 within 12 days, receiving seven offers.
Not all of the listings sold fast. A studio at 6400 Christie Avenue sold after 156 days on market and still went 7% over asking price.
Even though many listings sell over asking, it stands out that four listings in October sold below asking price.
Currently the Emeryville real estate market shows 20 active listings– 15 of which have been on the market for 20 days or longer. Seven of these listings have been on the market for over than 50 days. The lowest priced listing is a studio on Admiral drive for $325,000 and the highest active listing is a duplex on 62ndSt for $1,191,000.
Rental Market Trends:
Zumper.com published their latest monthly rental report for the Bay Area that covers 30 cities in our region. Emeryville ranked as the fourth most expensive city to rent this month. The price of one bedroom units grew 4.8% to a median of $3,060, while two bedrooms increased 0.8% to $3,790.
October 2018 Sales by The Numbers:
In October, the lowest sale price went for $375,000 for a studio at 6400 Christie. The highest sales price was $1,305,000 (31% over asking price!) for a single family home on 47th St.
Types of Homes Sold:
The number of homes sold in October increased from 9 to 14.
Studios & 1 Bedroom Homes:
The number of 1 bedroom and studios sold increased from 4 to 6.
2 Bedroom Homes:
The number of 2 bedroom homes sold is unchanged 5.
3 Bedroom + Homes:
2 single family homes sold and 3 3-bedroom condos/townhomes.
Median Sales Price vs. Median List Price:
Both median sales and list price increased in October with the sales price increasing from $610K to $655K and list price from $574K to $661K.
Average Days on Market:
The Average Days on the Market for Emeryville homes increased from 14 to 36 days. One big factor in this spike is the aforementioned condominium that was on the market for 156 days.
Is this helpful?
I said it before and I’ll say it again: send me your feedback, your questions, your praise … even your gripes … and I’ll address this in a future market report. Thanks for reading!
Please Email East Bay Modern REALTOR® Nicole Gruen.