As I took our snapshot of the Berkeley real estate market this month I saw some decrease in median price of the active listings, but a substantial decrease in the sold prices from June to July of this year. Overbidding continues on the most desirable homes, taking the median sold price 5.5% over the median list price for single family homes. Distressed properties now make up a surprisingly high percentage of the active single family homes at 23%.
Homes for sale in Berkeley CA as of August 12, 2010*
- 104 single family detached homes for sale in Berkeley CA or homes for sale in 94701 – 94710 are on the market
- Median list price in Berkeley is currently $625,000 for detached homes for sale, down from $649,000 last month.
- Prices range from $250,000 to $6,495,000 (the Spring Mansion) for detached homes for sale in Berkeley CAÂ
- Average days on market for detached homes for sale in Berkeley CA is 45 days
- Distressed properties (Potential Short Sales and REOs) represent 23% of the single family homes currently for sale in Berkeley CA:
- 11 properties are Potential Short Sales
- 13 properties are REOs (Real Estate Owned by banks)
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- 52 attached (condos, townhomes, duets) homes for sale in Berkeley CA
- Median home price in Berkeley is currently $427,000 for attached homes for sale
- Prices range from $189,000 to $764,000 for attached homes for sale in Berkeley CA
- Average days on market for detached homes for sale in Berkeley CA is 80 days
- Only two attached properties are currently distressed properties, 1 potential Short Sale and 1 REO.
Homes that sold in July 2010 in Berkeley CA
- 49 single family detached homes for sale in Berkeley CA sold in July 2010, compared with 60 homes sold in June 2010.
- Median home price in Berkeley was $685,000 for detached homes that sold, compared to $780,000 median sold price in June. In both months the median sold prices were in excess of the median list price by more than 5%.
- Prices ranged from $266,500 to $1,999,500 for detached homes that sold
- Average days on market was 24 days for the detached homes that sold in July 2010
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- 6 attached (condos, townhomes, duets) homes for sale in Berkeley CA sold in July 2010, compared with 8 attached homes sold in June 2010.
- Median home price in Berkeley was $377,500 for attached homes that sold, compared to $384,000 median sold price in June. In both months the median sold prices were below the median list price by more about 2%.
- Prices ranged from $242,000 to $520,000 for attached homes that sold.
- Average days on market was 24 days for the attached homes that sold in July 2010.
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Please feel free to contact me for any specific information about sales in the Berkeley, CA area!
