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We all know that the real estate market has cycles–and it certainly feels like we are in the heart of a big upswing again. Most would-be buyers out there looking for a home, as well as recent home purchasers, can attest to the craziness of the over-bidding, the huge amount of competition, and the general melee of the market this past year.

We also know that this current boom is coming on the heels of a major downturn and recession following the banking crisis of 2008. It’s true that the market was still strong through 2007, but sales in the East Bay and elsewhere had started to dip before that big fall. For most neighborhoods, the last boom really peaked in 2005.

While it may feel like the market is hot and crazy again, believe it or not, in many neighborhoods, homes are still selling well below their 2005/06 peaks.

But by the end of 2013, many neighborhoods had surpassed even those 2005 peak prices. Can you guess which ones?

EAST BAY NEIGHBORHOODS-Q2 of 2013 VS Q2 of 2005   

Greatest Appreciation in Median Sales Prices of Single Family Homes

Corey Comparison Revised (2)

So far in 2014 the market has remained strong, but it does seem like inventory is starting to outpace demand, at least in some areas.  Are we looking toward a more balanced market, or even (dare we ask) a buyers’ market anytime soon? What are your predictions?

If you are interested in learning what your home is worth, and/or in receiving quarterly updates about home values in your neighborhood, send me an email at corey@orangedoorproperties.com.