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Uncategorized • March 10, 2023

Berkeley CA (North)

by James Forquer

What the heck is going on in the Real Estate Market?

The Appraiser’s Appraisal

Berkeley (North)

 

Sold past 1-6 months (n=101) median (med) $1,440,000 Days on Market (DOM)=14

Sold past 7-12 months (n=218) med $1,777,500 DOM=13

 

This suggests a primary (yearly) change of -18.987%.

 

Sold past 1-3 months (n=19) med $1,515,000 DOM=13

Sold past 4-6 months (n=82) med $1,425,000 DOM=14

 

This suggests a secondary (quarter to quarter) change of +6.316%.

 

There are 19 active listings ranging from $599,000 to $2,495,000 with a median DOM at 10 days.  Range 1-164 days.

 

There are 18 pending listings (in contract) ranging from $599,000 to $3,495,000 with median DOM at 13 days.  Range 6-92 days.

 

1/16 review: yearly change -19.387%; quarter-to-quarter change -10.952%.  11/14 review: yearly change -5.714%; quarter-to-quarter change -16.312%.  9/28 review: yearly change +7.125%; quarter-to-quarter change -10.811%.

So, what’s going on?  The yearly trend is still quite negative but, it has improved.  Still, it’s just barley off of its bottom of -19.4% from January.  The quarter-to-quarter trend has gone from negative to a solid positive figure.  We should approach this observation with caution.  The current quarter sample size is on the small side but still above the minimum limits.  Note that volume of sales “n”, it’s way down.  Interesting, no?  From here, this market appears to be headed for some overall increases if these trends continue.  We will just have to wait and see.

Have any other real estate questions?   Want to know what is going on in a different market or sub-market?  Just ask!

 

Appraiser legal stuff:

CA Office of Real Estate Appraisers License No. AR041451 – JamesForquer.com jamesforquer@comcast.net  Data is from EBRDMLS and the City of Berkeley North of University Ave, and East of San Pablo Ave, all MLS residential listings, effective as of 03/10/2023

 

Listing/Sales services provided through Coldwell Banker – Montclair   510-339-6134 Jim Forquer – CA Department of Real Estate License No. 01205407

#realestate #property #investment #househunting

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