If you need assistance, please call 888-400-2246

Ka-ching! Oakland Home Sellers Cash In On Record Home Values

Tuesday, September 19, 2017   /   by Abio Properties, Blogger

Ka-ching! Oakland Home Sellers Cash In On Record Home Values

Oakland | East Bay Real Estate | Abio Properties.jpg

We know the East Bay real estate market is hot. But how hot? 

A new study that compares national home sales prices with initial purchase prices found that Oakland sellers reap the greatest return on their investments – by a landslide.

The typical Oakland homeowner made a profit of $235,000 on the sale of their property in 2016, after living in it for about seven years, according to a Zillow report out this month.

That’s 78 percent more than what the owners initially paid.

Nationally, homeowners sold for 24 percent more than what they initially paid, a gain of about $40,000.

The data analyzed by Zillow was from 2016, but we can tell you anecdotally that nothing has changed in 2017. Home values continue to climb in the strongest sellers market, thanks to record low housing inventory.

Oakland was one of the nation’s most competitive markets this August, when about 67 percent of homes sold above list price, according to analysis by Redfin.

So, how hot is the Oakland housing market? Just check out these results for recent Abio Properties listings:

6016 Herzog St., Oakland

6016 Herzog Street 2 bed | 1 bath in NOBE
Purchased in 2011: $310,000
Listed in 2017: $639,000
Sold in 2017: $800,000

548 60th Street 2 bed | 1 bath in Bushrod
Purchased in 2009: $610,000
Listed in 2017: $899,000
Sold in 2017: $1,275,000

1989 Wrenn Street  3 bed | 2 bath in Oakmore
Purchased in 2012: $643,000
Listed in 2017: $929,000
Sold in 2017: $1,090,000

6273 Brookside Avenue 3 bed | 3 bath in Upper Rockridge
Purchased in 2011: $300,000
Listed in 2017: $929,000
Sold in 2017: $1,070,000

---
Still trying to decide whether the time is right to sell your East Bay home? Let us help you make a pros and cons list!  Contact any of our Abio Properties agents at 888-400-ABIO (2246) or hello@abioproperties.com.


  east bay real estate, market conditions, oakland

Abio Properties
4200 Broadway
Oakland, CA 94611
888-400-2246
DRE# 01993663
3385 Mount Diablo
Lafayette, CA 94549
888-400-2246

IDX Content is provided via the Internet for consumers’ personal, non-commercial use. Variable Price’ indicates the seller is willing to entertain offers within a Listing Price Range. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. IDX provided by Commissions Inc. Data last updated:April 19, 2024
MIMLS Bay East ©2024. CCAR ©2024. bridgeMLS ©2024. Information Deemed Reliable But Not Guaranteed. This information is being provided by the Bay East MLS, or CCAR MLS, or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website. This information is intended for the personal use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated at 4/19/2024 8:37 AM CST.
Listings on this page identified as belonging to another listing firm are based upon data obtained from the SFAR MLS, which data is copyrighted by the San Francisco Association of REALTORS®, but is not warranted. Date last updated:April 19, 2024
The data relating to real estate for sale on this web site comes from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than {listing office} are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. The information being provided is for the consumers personal, non-commercial use and may not be used for any other purpose other than to identify prospective properties consumers may be interested in purchasing.
This site powered by CINC: www.cincpro.com