Bay Area Real Estate stats and numbers can be interpreted any number of ways.  As a Buyer or Seller,  geo- microtargeting is key.  Looking closely at the most recent sales in the specific neighborhood is the best way to determine the value of a home.

Buyers gain confidence determining “value” AFTER finding a home you can picture as theirs……. but don’t buy.   Once you learn what the new owners paid for it you’ll be ready to purchase your “dream home” at market value. 

ACTUAL 

In Oakland/Piedmont fewer homes are sold this year than last, but listings are down so inventory levels haven’t changed significantly in desirable neighborhoods.

In Rockridge, Crocker Highlands, Montclair, Oakmore & Temescal  well priced homes in all price ranges are getting multiple offers (and selling for over the asking price) IF the home is in great condition and priced well.  

10/4/07  Temescal, List Price $649K

3 BR/1Ba Craftsman Bungalow, 1300 sf

 Offer accepted in 8 days (>$700K)

9/15/07  Piedmont, List Price $7.8M

7 BR, 7++Ba Contemporary, 2 1/2 acres, pool & tennis courts

Offer accepted  in 7 days.

9/18/07   Upper Rockridge, List Price $1.049M

3 BR, 2 1/2 Ba, Contemporary built in 1998.  Offer accepted in 3 days!

10/5/07 Piedmont Ave Neighborhood $772K

3 BR, 2 BA Craftsman, 4100 sq ft lot sold in 8 days for $825K