If you’re buying or selling in Piedmont, Rockridge, Montclair or Crocker/Lakeshore and curious about the effect of Foreclosures and Short Sales you hear  everyday in the media, the chart below paints the picture.  Shown are the number of REO’s *, Short Sales and Non-Distressed Sales of single family homes in Piedmont and in Oakland neighborhoods of Rockridge (94618), Montclair (94611) and Crocker/Lakeshore (94610) on April 5, 2009.

*”Real Estate Owned”/Bank-Owned

Twelve new listings this week in Oakland neighborhoods, fourteen in Berkeley and two in Piedmont.   Data is for single family homes priced >$450,000. 

Chart below is the companion to my previous post which differentiates Average Sale Price for REO (Foreclosures), Short Sales & Non-distress (Conventional) homes.  The trend is what would be expected, except in Piedmont.  It seems the higher Avg Price per Sq Ft in Piedmont for REO’s is probably because one of the (only) two Foreclosures in Piedmont was <1400 sq ft.  Square Footage numbers always skew high for small homes. 

The Chart above shows the disparity of Average Home Sale Price by isolating the data based on whether the home was in Foreclosure (REO), a Short Sale, or a “Conventional” Sale….my term for all homes sold that were “Non-Distressed” Sales.  Data is derived from local MLS which did not differentiate prior to June 2008 so the numbers above include all homes sold from  July 1 2008-Feb 12, 2009.

Note: In Montclair one of the 7 Short Sales sold for $2,250,000 which skews the numbers a bit.