Homes Sell Above, Below And At Asking Prices

So what are we supposed to conclude from that? Probably no more than that the well-worn real-estate mantra that it’s all about location, location, location continues to prevail.

Three homes that I have been following were recorded as having sold last week.



The condo at 51 Oakvale (above left), which I flagged up when it came up for sale in August, sold for 4% over its $649,000 asking price. I’m not surprised as this is a very good looking house on a gorgeous south Berkeley street.

Meantime, 40 San Mateo Road in north Berkeley (above middle) had two price reductions (the last to $1,195,000) before selling for $1,070,000. I didn’t see this property in person but something obviously didn’t click for potential buyers.

Finally, over in Oakland (and therefore not on the Berkeley table below — but you can check out the full listing here) 5905 Claremont Avenue (above right) sold for $1,200,000, exactly what it went on the market for. This sounds right to me because it reflects the fact that even though it looked like a large, well-appointed home, that was counterbalanced by its location on a main thoroughfare.

Here’s the full Berkeley table (which has a healthier total this week (22) compared to last week when there were just five listings):