Bay Area Housing Market

After a strong month to month sales gain up to June, sales fell more after June, especially for homes above $500,000. Although sales are still higher than July last year, there were a total of 6,887 new and resale houses and condos sold in the nine-county Bay Area last month. That was a 13.9 percent down from 7,998 in June.  A decline from June to July is normal for the season. Foreclosure resales accounted for 26.6 percent of resales in July. Short sales made up an estimated 18,8 percent of Bay Area resales last month.

2 Properties, 1 Realtor

Izabella Closes Double...

http://www.free-press-release.com/news-izabella-closes-double-1312854364.html

Multiple offers through out the Bay Area, except the South Bay. There are bidding wars in the East Bay.

As for the Bay Area real estate market, there is low inventory and low sales volume. Sellers are waiting for better prices, and buyers are waiting for better inventory. So in the middle of the summer, the market is staying quite still. I am thinking that things are going to change soon. 

As of June 2011, The median price in Alameda County is $400,000. 

Compared to last year, the numbers are still down almost everywhere except Marin and Santa Clara counties. But most of the past year's loss came in the last five months of 2010, right after state and federal tax credits expired. Recent findings have been more hopeful, with prices rising for the past three months. 

There seem to be multiple offers everywhere except the South Bay. Three out of four East Bay transactions are now bidding wars. The same is true of San Francisco and the Peninsula, especially in areas like Cupertino where schools are strong. 

2011 Alameda Homes Median Price

Alameda median price compared to quarterly highs & lows

2nd Quarter 2011 Median Price: $599,500

Low Quarter Median Price: $555,000

High Quarter Median Price: $705,000

(Courtesy Mercury News)

SOLD- Mission Accomplished!

3165 Madera Ave, Oakland, CA is recently sold. Congratulations to Berenise Herrera! Izabella helped Berenise every step of the way by selling her home for the highest property value in this market.

If you or anyone you know is interested in buying or selling a home, please contact Izabella at ilipetski@gmail.com or (510)506-2072. Your referrals are greatly appreciated.

Mother's Day is coming up, May 9th!

A Mother’s Day to remember- win a special day out for your Mom

 

Give your mom an extra special Mother’s Day this year by winning her a day out in the city.

 

To enter the competition, just text your name and email to (510) 506- 2072- it’s that easy.

Or you can enter, by sending your name and email to ilipetski@gmail.com.

 

Start the day off with a $100 gift card to the Chakra Salon Spa where your mom can enjoy the spa with a massage and salon services.

 

One entry per household please. Contest ends April 30, 2011.