Berkeley Homes Without Instant Appeal Linger, Lose Value
The highest priced home to be sold in Berkeley in the week ending July 20 was a 4-bedroom on Shasta Road in the north of the city which went for $1,450,000, while the lowest price paid was $225,000 for a 2-bedroom condo on Parker Street.
Which tells you little except that there is diversity to be had in Berkeley. But that you knew already.
The story of the week is of houses that took a long time to sell and then had to do so with a price reduction. Sign of the times for homes without instant sex appeal, I guess.
2742 Prince Street took a long time to sell — this 3/2 Craftsman on a nice street in The Elmwood went on the market in September last year priced $1,150,000. It sold for 22% less at $900,000. It last sold in 2004 for $560,000.
927 Euclid Avenue in north Berkeley also sat on the MLS for some months. It was on the market at the beginning of the year for $1,075,000, had a cut to $1,050,000, found and lost a buyer, and finally sold for $1,020,000.
797 San Diego Road made it into a list of BIG homes (3,000+ sq ft) for sale I compiled back in March. This 4/4, 3,500 sq ft Mediterranean close to John Hinkel Park in north Berkeley was priced at $1,289,000 (an attractive 368/sq ft). It sold for a little less at $1,250,000.
Finally, just to buck the trend, there’s 3020 Wheeler Street, a 3/1 home in central Berkeley, which was on the market in April for $499,000 ($374/sq ft) and just sold for 3% more at $512,500. I trust it was worth the wait.
