Oakland Inventory: A Quick Scan

inventory.jpgAs Oakland is being hit hard with short-sales and foreclosures, inventory remains high with an estimated 1500 properties (does not include multi-family) for sale; compare this to less than 1000 a year ago and less than 600 two years ago. The average sales price is $661,431 while the median sales price is $471,000.  The past 3 months have seen just under 900 sales; compare this to 1151 the same time last year.  While many areas of the Bay Area each sport their own version of “Mansion and Shack” (to take my editor Susan Brady’s phrase) Oakland’s gap between rich and poor is evident when comparing  2 Westminster Dr. and 3226 Chestnut St.: at $4,500,000,  the former is more than 40 times more expensive than the latter.

Top 3 Most Expensive:

2 Westminster Dr. 4/6.5 5032 SF Current List Price: $4,500,000 Claremont Pines neighborhood; DOM: 133

6590 Swainland Rd. 5/4.5 5800 SF Current List Price: $3,400,000 Montclair Hills; DOM: 18

5900 Manchester Dr. 4/5.5 5429 SF $2,995,000 Claremont Pines; DOM: 130

Top 3 Least Expensive:

3226 Chestnut St. 1/1 456 SF Current List Price: $105,000 North Oakland; DOM: 10

1819 Church St. 2/1 Bank-Owned Current List Price: $124,900 East Oakland; DOM: 9

1419 Sunshine Ct. 2/1 803 SF Current List Price: $125,000 East Oakland