May 27, 2008

Oakland: Selling Above Asking

1348 trestle glen rd Oakland: Selling Above AskingWell, I don’t believe in Santa Claus or the Easter Bunny anymore and lately I wouldn’t believe in homes selling for above asking in the Bay Area either. Especially in Oakland, as the Town has taken a hard hit with hundreds of foreclosures and sellers in “good” neighborhoods taking large losses.  But I found a couple that sold above asking (published in SFGate’s most recent edition). And I mean, just a couple; well, actually, three. Here they are:

1348 Trestle Glen Rd. 3bd/1ba 1739 SF Sold for: $989,000 Asking Price: $959,000 (Trestle Glen Area; pictured right)

1551 Excelsior Ave. 2bd 1060 SF  Sold for: $605,000 Asking Price: $579,000 (“Lower” Glenview)

6841 Elverton Dr. 2bd 2989 SF  Sold for: $1,335,000 Asking Price: $1,295,000 (Oakland Hills)


  • Alison Ching

    Thanks for your input, David G and Oakland Res. Yes, Trestle Glen, Oakland Hills, parts of Glenview and Crocker Highlands and Rockridge, as the most sought after 'hoods in Oakland, are able to command pre-bubble bursting prices and then some... let's see how long it will take for the crash to "move inward" as David and many others have said. I'm guessing these neighborhoods will stay strong over the summer and into fall, and so we may not see the dip until the winter? What do you all think?

  • OaklandRes

    Not surprising. Trestle Glen seems immune to what is happening elsewhere. Asking prices are still high but the "charm" factor of homes allows for it.

  • Elverton and Trestle Glen are 2 of the premier streets in their respective districts of Oakland, so this does not surprise me. These are the top tier neighborhoods and have yet to be hit anywhere like the other parts of Oakland.

    I would say Montclair is the "best" district to be hit hard so far, but that is a vast area there too.

    It always starts in the outlying areas (or worse) and moves it way inward (to the better).

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