Nowhere to Go But Down for Home Prices on Crash Site

Following my May 25 post on price reductions in Berkeley, a reader asked if there wasn’t a way to know for sure whether there were more or fewer price cuts around. “Isn’t this something that could be proved empirically, i.e. without appeal to one’s “sense” of the market?” asked Charles.

Well, we certainly wouldn’t want anyone relying on my sense of the market.

So, while I haven’t yet come across any snazzy graphs showing price reduction trends, the best source I have found for ongoing data is Berkeley Housing Crash where site-host Kim tracks all home price reductions, as well as final sales prices, and presents them on one handy map (like the one below).

A potential sweet deal straight from her site? 1730 Sonoma Avenue which went on the market at $1,849,000 on May 7 and was reduced to $1,595,000 today. (Read some of the juice on this property in the comments section of this post.)

Thanks Kim for all your hard graft — we real-estate junkies appreciate it.