September 2018 Emeryville Real Estate & Rental Report: Sales See Steep Decline
The month of September saw a fairly steep decline in home sales in our city. My personal theory is that people have been apprehensive because of the election, rising interest rates and volatility in the stock market. We’ll be watching closely to see if the market picks back up in spring which is typical.
There are currently 21 active listings in Emeryville. 4 of the active listings have been sitting over 25 days and 7 for over 50 days. There just might be a deal out there for you. Browse all Emeryville listings on EastBayModern.com.
Rental Market Trends:
The average rent for an apartment in Emeryville is $2,883 according to rentcafe.com. This represents a 3% decrease compared to the previous year, when the average rent was $2,984.
Studio apartments in Emeryville are renting for $2,365 a month, while 1-bedroom apartments ask on average $2,711 a month; the average rent for a 2-bedroom apartment is $3,297.
September 2018 Sales by The Numbers:
In September, the lowest sale price went for $450,000 for a 1 Bedroom condo on Commodore Drive. The highest sales price was $835,000 for a 2 Bedroom condo at Bay Street.
Types of Homes Sold:
The number of homes sold in September decreased from 16 to 9.
Studios & 1 Bedroom Homes:
The number of 1 bedroom and studios sold decreased from 10 to 4.
2 Bedroom Homes:
The number of 2 bedroom homes sold increased from 4 to 5.
3 Bedroom + Homes:
No 3 Bedroom condo or single family home was sold.
Median Sales Price vs. Median List Price:
Both median sales and list price decreased in September with the sales price increasing from $625K to $610K and list price from 598K to 574K.
Average Days on Market:
The Average Days on the Market for Emeryville homes decreased from 21 to 14 days.
Is this helpful?
This September report represents one year of these Real Estate market insights and I’d love your feedback. Have recommendations to improve them or topics to spotlight?
Please Email East Bay Modern REALTOR® Nicole Gruen.