Avante Real Estate – East Bay Real Estate Blog

East Bay Blog

September 28th, 2007 1:11 PM

Thanks for stopping by the East Bay Real Estate Blog. So the recent home sales numbers just came out for the East Bay, and as I expected, they show some areas holding up a lot better than others. Below you will see home sale totals for August. Some areas like Union City seem to be keeping up pretty well. I suspect this is due to their proximity to Silicon Valley where jobs are plentiful. In the outlaying areas pain is becoming very severe. Take Antioch for example, which is showing a staggering 25%+ price drop in average home sale price from August of last year. These outlaying communities which grew tremendously in the last decade and see lots of commuters normally always get hit harder during real estate downturns.

As I mentioned in previous posts, many cities where the average price was lowest also had a larger percentage of sub-prime loans. During the boom those cities had huge price increases; they are also falling on hard times now. Another example being Stockton, CA which now as the dubious honor of the foreclosure capital of the United States. One article on www.cnbc.com says that 1 out of every 34 homes there is now in foreclosure. It will take some time for these areas to recover. The more expensive and more desirable areas however, are just returning to normal.

County/City	# Sold	August 2007	August 2006	% Change
Alameda County	992	$625,000	$600,000	4.17%
ALAMEDA	67	$690,000	$655,000	5.34%
ALBANY	15	$600,000	$672,500	-10.78%
BERKELEY	56	$750,000	$706,500	6.16%
CASTRO VALLEY	37	$580,000	$645,000	-10.08%
DUBLIN	40	$629,500	$677,500	-7.08%
EMERYVILLE	26	$428,000	$425,000	0.71%
FREMONT	165	$646,500	$640,000	1.02%
HAYWARD	62	$498,500	$565,000	-11.77%
LIVERMORE	71	$646,000	$610,000	5.90%
NEWARK	23	$580,000	$605,000	-4.13%
OAKLAND	238	$577,500	$535,000	7.94%
PLEASANTON	78	$792,500	$770,000	2.92%
SAN LEANDRO	50	$480,000	$550,000	-12.73%
SAN LORENZO	12	$506,250	$580,000	-12.72%
UNION CITY	52	$655,000	$550,000	19.09%
Contra Costa County	1,100	$575,000	$579,000	-0.69%
ALAMO	20	$1,587,500	$1,524,500	4.13%
ANTIOCH	85	$385,000	$517,500	-25.60%
BRENTWOOD	67	$515,000	$640,000	-19.53%
BYRON	34	$535,750	$599,000	-10.56%
CLAYTON	16	$635,000	$775,000	-18.06%
CONCORD	91	$500,000	$545,000	-8.26%
DANVILLE	112	$942,000	$1,000,000	-5.80%
EL CERRITO	22	$645,000	$625,000	3.20%
EL SOBRANTE	11	$505,000	$575,000	-12.17%
HERCULES	22	$581,250	$587,500	-1.06%
LAFAYETTE	38	$1,212,500	$1,147,500	5.66%
MARTINEZ	48	$504,750	$525,000	-3.86%
MORAGA	22	$1,008,000	$882,500	14.22%
OAKLEY	51	$468,000	$542,000	-13.65%
ORINDA	15	$950,000	$1,328,250	-28.48%
PINOLE	12	$505,000	$512,500	-1.46%
PITTSBURG	44	$406,000	$460,000	-11.74%
PLEASANT HILL	36	$585,250	$672,500	-12.97%
RICHMOND	70	$437,000	$430,000	1.63%
RODEO	2	$380,500	$525,000	-27.52%
SAN PABLO	25	$437,000	$490,000	-10.82%
SAN RAMON	145	$813,000	$800,000	1.63%
WALNUT CREEK	104	$620,500	$677,500	-8.41%

We hope you find this information helpful and useful. Please remember we are here to assist you with all of your real estate needs, until next time…

Posted by Ted & Lucy Ramos on September 28th, 2007 1:11 PMPost a Comment (0)