Alameda and Albany: Sales Under 500k

Since Dataquick’s headline last week that the median price for Bay Area homes has fallen below $500k (to $485k) I’m featuring homes that have sold in Alameda and Albany recently for under that mark. In the city of Alameda, SFGate lists 12 recorded sales this weekend edition; of these, over 40% are under $500k. Meanwhile, all Albany sales (a total of four) listed in this same edition are under $500k. Looking at the Alameda sales more closely, 1127 Mound Street was listed for $580k a year ago June and comments about “delusional floppers” (yes, “floppers” with an “o”) can be seen from then on Burbed. The commentator Adam was right: it ended up selling for $151k less than the asking price a whole year later. Actually, since it’s a 1bd/1ba I’m suprised it even sold for that much. 1732 Union St. was featured on Knifecatchers this past March who remarked that “they don’t seem to know what price they really want” after being listed for $450,000, then $465,000 then $529,000. The home eventually sold for $455,000. The townhome at 2991 Via Bahia was listed for $424,500 and after 19 DOM sold for $405,000. The only SFR recorded sold in Albany in this grouping is 711 Madison, pictured above. The price initially surprised me since in Albany, 2bds (even those with small square footage) tend to go for at least the high 400′s. However upon seeing the listing, the price made sense: it was a “Contractor’s Special” and needs a new roof along with a 43k pest repair among other issues.

Alameda

3212 Fir Avenue (condo)
$452,000, sold 06-18-08, 3 bdrms, 1673 sq. ft., 1969
1127 Mound Street
$429,000, sold 06-19-08, 1 bdrms, 776 sq. ft., 1900
950 Shorepoint Court #201
$320,000, sold 06-24-08, 2 bdrms, 951 sq. ft., 1972
1732 Union Street
$455,000, sold 06-24-08, 1 bdrms, 760 sq. ft., 1926                                                               
2991 Via Bahia
$405,000, sold 06-18-08, 2 bdrms, 1188 sq. ft., 1968

Albany

711 Madison Street
$427,000, sold 06-23-08, 2 bdrms, 840 sq. ft., 1927
535 Pierce Street #3213
$365,000, sold 06-20-08, 2 bdrms, 1170 sq. ft., 1988
535 Pierce Street #1116
$380,000, sold 06-17-08, 2 bdrms, 1170 sq. ft., 1988
555 Pierce Street #901
$310,000, sold 06-18-08, 1 bdrms, 1040 sq. ft., 1977