The Voice of East Bay Living

We are off to a wild start to 2015 with an inventory driven market - low inventory remains the dominating factor and prices are being pushed upward in hot and heavy multiple offer bidding wars.  Here are our first samples: Piedmont home - located on Palm Drive  Listed for $1,295,000 (which seemed high), currently Pending for over $1,600,000. Crocker Highlands home - located on Underhills Road  Listed for $849,000, currently Pending for $967,000 Rockridge house - located on Locksley  Listed for $849,000, currently Pending for over $1,000,000 All agents are racing around with "I want Listings” written on their foreheads!

We are in the midst of a sizzling market where all cash buyers are increasing and  overbids on even the most modest of homes may be several hundred thousand dollars over  the asking price. Even real estate professionals are puzzled about where to price a home and are relying heavily on their real estate peers for a a collective opinion of value.  A sampling of Active inventory in Piedmont has the least expensive home- a 2 bedroom, 1 bath on Sunnyside listed for $849,000 and the most expensive home on Sea View listed for $6,400,000.  The most expensive home on the market is Pending-a home on Requa Road listed for $7,400,000. It is expected that the Piedmont inventory will increase in the next few weeks-this may help stabilize prices. 

The market for 2014 is starting off with a bang. This lovely home located in Upper Lincoln Heights just closed escrow-sold significantly over the asking price with multiple offers--on to the next.