Berkeley Real Estate Market Update in H1, 2020

Let's review the Berkeley Real Estate market in the first half of 2020!

The graph above is very interesting. A long time trend of Berkeley: List low, get multiple buyers, and sell high with multiple offers has ceased, based on the numbers.

The Shelter-in-Place in Alameda county started in the middle of March. The properties closed in April were the last bunch before Covid-19. When you see the May closings, the difference between list and sold price got very close. The properties closed in June showed list price = sold price!!!

Since pandemics, conducting open house has been banned. Buyers who are ready get a chance to visit properties with their agents. So, it does make sense to put the list price as close to the market value as possible. There are no last minutes crazy writing offers just one hour before due time.

This is the leading trend in East Bay currently. it may change again but till then, list price seems good indication of what seller is wanting for their home.

© 2023 by Hiroko Tsumori, Bay Area Modern Real Estate, Cal DRE 01842561

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