Berkeley Homes Get Price Cuts As City Discovers Its Inner Paris

Today: price reductions — including the return of a house that is patently finding it very difficult to find a buyer — and a couple of “new” neighborhoods.

Prices are coming down on two 2/2 “green” condos and a cottage at 1532 Martin Luther King Jr Way in North Berkeley (pictured below left) . The cottage is down from $535,000 to $455,000, the garden flat is $669,000 and the upper flat $729,000. Visit the website here.

2354 Hilgard Avenue, a “sophisticated” 2/2 townhouse near UC, has been reduced from $550,000 to $530,000 after more than 70 days on Redfin.

The owner of 1535 Grand View Drive in the Oakland hills, a new custom-designed 5/4.5 Mediterranean style home, “needs a sale now!” The price has dropped from $2,698,000 to $2,295,000 after more than 400 days on Redfin.

Then there is the reappearance of 49 Evergreen Lane (pictured above right), a spacious 4/2.5 contemporary home which went on the market at the beginning of this year with a $2,275,000 sticker price; it went off the MLS at $1,695,000, and is back today for $1,545,000. That’s an impressive $730,000 — or 32% — drop.

Finally, I am always amused when I discover a “new” neighborhood — as in agents’ speak for a particular area of town. This weekend’s listings included mention of the “Left Bank” for a home on Matthews Street (not quite the Rive Gauche I fear); and “Gourmet Ghetto West” for a duplex on 7th Street. Brownie points for trying folks.