Oakland: Let’s Compare in the Laurel
It’s now officially summer, traditionally the time for homes to get spruced up and go on the market in droves. It’s also the first summer in a buyer’s market for many years and buyers are bargain hunting. One of the Oakland neighborhoods that saw its value shoot up during the housing bubble is the Laurel. With wonderful bungalows at the foot of the Oakland Hills, the Laurel offers not only great homes but convenience to shopping on MacArthur Ave. and proximity to the 580 freeway to the south and further up, the Warren freeway to the north.
Perusing throught the listings I was pleased to see that many homes in the “lower” Laurel seem to be pricing “right”. The homes I’ve highlighted below range from $277,500 to $474,000 and all are 2/1′s except for 4010 Brown Ave., which is a 3/2. Compare this to sales in the fall of 2007 contained in my post What Does Fair Mean? A Closer Look at the Laurel.
As you drive north into the ”upper” Laurel and towards the Oakland Hills, prices jump up to the 500k range, and once into Laurel Heights, there is at least one listing in the 600k range. Closer to the hills=higher prices; well, no surprise there. However, I wonder if these prices will hold since several of the listings I highlight in the upper district already have price reductions and all below have been on the market more than 40 days. Plus, while the homes are lovely from the photos, they are relatively small (all around 1000 SF). What do you think: are these homes priced “right”?
“Lower” Laurel District
3046 Georgia St. 2bd/1ba listed for $277,500. Description emphatically states “NOT A SHORT SALE” and status is “back on the market”. No square footage listed. Previous sale was in Feb 2007 for $470,000.
3531 Laurel Ave. 2bd/1ba 975 SF Listed for $289,900. 1920′s stucco bungalow. Last sale March 2008 for $303, 571.
3425 Suter St. 2bd/1ba 1024 SF. Listed for $349,000. Reduced from $399,000. Last sale was in May 2005 for $525,000. 1920′s craftsman.
3801 Brown Ave. 2bd/1ba 1138 SF. Listed for $399,900. Last sale was in Dec 1999 for $286,000. Victorian with white picket fence.
4010 Brown Ave. 3bd/2ba 1100 SF Listed for $465,000. Reduced from $497,000. Last sale was in Dec 2006 $474,000.
“Upper” Laurel District
Pictured Above: 3287 Arizona St. 2bd/1ba List price $548,000. Reduced from $598,000. 1920′s bungalow, crisp, clean, white, airy-looking interiors.
3251 Wisconsin St. 2bd/1ba 1110 SF List price $569,000. 1930′s Mediterranean. Reduced from $595,000.
3812 Harbor View Ave. 2bd/1ba 1057 SF List price $590,000. Last sale was in July 2004 for $550,000.
