East Bay: Berkeley Named Top Spot For Selling Your Home
By Home Girl, aka real-estate blogger Tracey Taylor
If you are selling your home, Berkeley is the place to be doing it, according to a piece in Forbes which ranks the ten best suburbs to sell a home. (Suburb? Ouch that hurts.) This is how they put it:
Berkeley known sometimes as a hippie haven, is becoming a hotbed for home sales. Prices in the Bay Area suburb are up 9% this year, with homes selling for a median price of $790,986. Properties are sitting on the market for 73 days on average, the lowest of any area with positive price trends within the confines of the country’s 75 largest Census-defined metro areas. Only 37% of sellers have been forced to reduce their prices, one of the lowest rates in the country.
“Only 37%” of sellers reducing their prices? Shows just how bad it is. Other California spots to make it into the Top 10 include Encinitas and Venice.
The report draws on stats from Altos Research and the really interesting angle — and one Forbes fails to mention — is provided by Altos CEO Mike Simonsen on his blog. He says this was a difficult one to call:
Their editors called and asked, “Where are the best selling suburbs for sellers right now?” It’s a tough question because the answer, really, is nowhere… By our Market Action Index, there are essentially no markets with demand levels high enough to call them “Sellers’ Markets”. We settled on identifying ten suburbs whose demand trends … simply weren’t horrible.
Of course, a Forbes ranking of “10 suburbs to sell that simply aren’t horrible” doesn’t have quite the same ring to it.
[Photo credit: www.cityofberkeley.info]