If you don’t know history, then you don’t know anything. You are a leaf that doesn’t know it is part of a tree.
– Michael Crichton
2013 has been an excellent year for sellers because low interest rates and insufficient inventory have led to high prices. Buyers, conversely, have found this to be a challenging real estate market.
I hear many opinions about local prices. With so much information online, it is easy to draw conclusions, but are they correct? Some say prices have surpassed highs of our previous seller’s market, others think not.
To answer this question, I chose three popular Oakland zip codes, 94602, 94611 and 94618, and charted Multiple Listing Service (MLS) statistics back to 2005, the peak year for closed sales.Read More