Alameda County Second Quarter Report

Lisa and EllenThe Alameda 2016 Q2 Quarterly Report is out and it tells the story of what we have been seeing for the last couple of years: a strong sellers market with the median average sales price up from 1% to 17% from this time in 2015. Albany saw the smallest gain with Berkeley seeing the largest.

While the average price has increased, the number of sales are down. A lack of inventory, along with the typical lull during the summer months does contribute to the downward trend. It is expected that inventory will see a jump after the Labor Day Holiday.

We do see some softening, especially at the upper end of the market. Affordability seems to be a factor for many buyers and areas that were typically seen as affordable are still seeing a brisk and competitive market.

Local economic factors are still strong and interest rates maintaining historic lows will continue to help move the market forward, but potentially not at the rapid increase.

 

Lisa Cartolano & Ellen Diamond

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A bit of hiatus…

It has been a while since we have posted a blog. Between family obligations and a busy work schedule and honestly a bit a writers block, we are getting back to it.

Thanks,

Lisa & Ellen

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Noe is the new Pac Heights: Luxury home market shifts southward

In the last seven years, sales of $2-million-plus homes have shifted from the city’s northern neighborhoods (like Pacific Heights, the Marina and Telegraph Hill) to southern locales (like Noe and Eureka Valleys), according to a new report from Paragon Real Estate. In 2007, 62% of $2-million-plus…
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Famed architect Philip Johnson’s house lists for $1.575M

New Canaan, Conn. — The mid-century modern built by famed architect Philip Johnson in 1954 hit the market over the weekend, asking $1.575 million for the chance to purchase a piece of New Canaan’s architectural history. With three bedrooms and three bathrooms on 2.57 acres of land, the property can…
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Pac Heights Georgian sells after more than 7 years and $7 million in price cuts

When 2090 Vallejo Street in Pacific Heights first came to market in the heady days of early 2007, the housing market was still fairly “frothy,” Bear-Stearns was still an admired securities firm, and $17.8 million still seemed like an acceptable asking price for a Pacific Heights mansion with…
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High rents, low inventory push S.F. multifamily market to new heights

Apartment buildings in the Tenderloin are now worth more per square foot than multifamily properties in Marin, according to a recent report from Paragon Realty. Buildings with five or more units in the San Francisco neighborhood sell for an average of $357 per square foot, versus $298 per square…
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Got $4M to spare? You can own Tim Lincecum’s Arizona mansion

When Tim Lincecum needed a crash pad during Spring Training, he chose something elaborate. And private. But now, because this Arizona mansion is for sale, you get to peek inside. Built in 2003, the 11,028-square-foot sprawling affair rests between the Camelback and McDowell mountains, as well as…
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