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RED OAK BLOG

Chicken Little

We’ll come out and say it: Chicken Little is plain old wrong.

Concerns about a slowdown were not a trend, just a blip.

And when you thought the East Bay real estate market couldn’t get any hotter, the second quarter of 2016 rolled around. Twenty three records were broken. Here’s a list of them all:

  • Highest median sale price in…
    • The East Bay*: $725,000
    • Berkeley: $1,200,000
    • El Cerrito: $800,000
    • Emeryville: $875,000
    • Oakland: $700,000
  • Highest average price over list price in…
    • Berkeley: 22%
    • Kensington: 19%
    • Oakland: 15%
  • Highest median price per square foot in…
    • The East Bay*: $546
    • Alameda: $584
    • Albany: $797
    • Piedmont: $791
    • Berkeley: $704
    • Kensington: $678
    • El Cerrito: $543
    • Oakland: $477
  • Lowest average days on market in…
    • The East Bay*: 21
    • Alameda: 15
    • Berkeley: 16
    • Oakland: 16
    • Piedmont: 13
  • Greatest percent of the market above $1M: 27% of the market
  • Highest number of sales above $1.8M (top 5% of the market): 71 sales

That means every major metric is performing at an all-time high. If the past is any prediction, those records may very well be broken next year, too.

See the complete report here,** and if you would like a custom analysis of your home, just let us know.

* Single family homes in Alameda, Albany, Berkeley, El Cerrito, Emeryville, Kensington, Oakland, Piedmont, Richmond and San Leandro
** Charts in the report will differ from the statistics reported in this blog post because the report includes sales in a different set of cities: Albany, Berkeley, El Cerrito, Kensington, Oakland and Piedmont.