MARKET PULSE | DESIGN & STYLE | LIVING
“Boots on the Ground” Market Update
The first month of 2020 just wrapped up and the results are in. Looks like it’s going to be another Sizzling Seller’s market this year. With boots on the ground, I took some new clients out this past weekend to see several Sunday Open Houses, and here’s what I saw: Every place was filled with couples, families, mother-in laws and new born babies — all of them buyers (neighbors peeked in too) streaming through, elbow to elbow.
The price range that attracted most buyers was under $1,000,000. In January, there were 47 pending sales in Oakland, with an average list price of $880,000.
But it’s not just the entry level homes that are hot (yes, that’s right, this is entry level range in the East bay). A stunning two story showcase home in Piedmont, listed for $4.3M, sold in 5 days with multiple offers.
And investors thinking they might snag a deal early in the year found the multi-dwelling market was just as crowded. I showed one of my investors a tired, turn of the century Victorian duplex that lacked a kitchen, baths and fixtures. Before we could jump on it, we learned the seller had already received 7 offers. Another property on the edge of North Oakland already had 20 requests for disclosures by its third day.
With Super Bowl Sunday now behind us, it’s officially the Spring Selling Season. Stay with me as I track the pulse of the market.
January Pending Sales
DESIGN & STYLE
Round Mirrors to Glam Your Walls
Sometimes just a few upgrades are all that’s needed to make over a room. Take bathrooms. Traditionally, most bathroom mirrors are rectangular with decorative frames or clipped on beveled edges.
The Impact of a Single Change
New Grand Lake Kitchen Comes to the Dimond District
Whether it’s a home or a neighborhood, sometimes one simple change can have an impact on everything around it. Last week I met a client for breakfast at the new Grand Lake Kitchen (GLK) in the Laurel District. The first GLK opened down by popular Lake Merritt and is packed each weekend with a line stretching down the block. The new location is on a corner of MacArthur Blvd. – a street that runs through most of Oakland and is defined by its nail shops, ma & pa grocery stores, and cheap motels lit up with vacant signs in the windows. Besides Farmer Joe’s and the Boulangerie nearby, the area has remained pretty much untouched for the past 30 some years.
I had found my new Saturday morning breakfast spot, and as I walked out and looked around at the tattered awnings and vacant store fronts, I sensed that soon these will be replaced with new local shops, eateries and much more– as people come to the GLK and discover a revitalized Dimond District.