The local real estate market remained warm in April, possibly due to insufficient supply and still historically low, albeit rising, interest rates. Condominium prices remain stable and are selling almost at record levels.
Single-family homes available, which are rare in Emeryville, remain the most popular. There is only one single family home currently listed in Emeryville that is perpetually under construction on 55th street originally built in 1910.
The lot was approved for conversion to duplex in 2019. The list notes a “cash only” contingency.
See the full list on coldwellbanker.com.
Rents for 1 bedroom decrease, increase for 2 bedrooms
Emeryville was ranked the 5th most expensive city in the Bay Area to rent in April. Emeryville rents fell for the second consecutive month. The price for one-bedroom units fell 3.5% to a median of $ 2,200, while that for two-bedroom units rose 1.7% to $ 3,000.
On an annual basis, rents are down 15.4% for 1-bedroom units and 12.3% for 2-bedroom units in Emeryville.
Properties sell quickly but above all at the asking price
Decrease in real estate sales compared to March 2021
Real estate sales in April were 13, up 85.7% from 7 in April 2020 and -27.8% below the 18 sales last month. Sales for April 2021 were at an intermediate level compared to April 2020 and 2019. Sales for April from 59 years old are up 84.4% from last year’s sales of 32.
Median selling prices down from March 2021
The median selling price in April was $ 515,000, up 17.6% from $ 438,000 in April 2020 and -8.6% from $ 563,500 last month. The average selling price in April was $ 549,769, up 4.3% from $ 527,271 in April 2020 and down -8.0% from $ 597,683 last month. The April 2021 ASP was in an average range compared to April 2020 and 2019.
Inventory remains low
The total inventory of properties available for sale in April was 14, down -12.5% from 16 last month and -30.0% from 20 in April last year. The April 2021 inventory was at an intermediate level compared to April 2020 and 2019.
A comparatively lower monthly inventory supply (MSI) is more beneficial for sellers, while a higher MSI is better for buyers. The 1.1-month April 2021 MSI was in an average range compared to April 2020 and 2019.
The shortest days on the market in years
The Average Days On The Market (DOM) indicates the number of days the average property is on the market before selling. An uptrend in DOM tends to indicate movement towards more than one buyer’s market, a downtrend a movement towards moreeller’s market. The DOM for April was the 14th, up 7.7% from 13 days last month and down -51.7% from 29 days in April last year. The April 2021 DOM was at its lowest level compared to April 2020 and 2019.
Selling price vs list price – properties sell near the list price
The sale price relative to the listing price reveals the average amount that sellers agree to decrease from their list price. The lower the ratio than 100%, the more a buyer’s market exists, a ratio equal to or greater than 100% is more indicative of a seller’s market. The April 2021 selling price compared to the list price of 101.9% was down from 103.1% last month and up from 99.0% in April of last year.
Featured Active List: Watergate Studio for $ 325,000
3 Commodore Drive Unit # 365 is a 470 square foot studio apartment with a private balcony and a deeded parking space. Unit has been updated with new appliances, cabinets and rugs. Monthly HOA dues are $ 429 and include a tennis court, outdoor pool, fitness center, and sauna access. HOA dues also cover cable TV, earthquake and hazard insurance, management fees, supplies, garbage, water, and other amenities.
Complete list with additional photos posted here.
This report is prepared by longtime Emeryville resident and Coldwell Banker real estate agent Nicole Gruen. Want to buy or sell in Emeryville? Support your resident real estate agent.
** All data is believed to be accurate, but not guaranteed.