At my open houses lately people have been talking about which neighborhoods are “hot” right now.  NOBE? Piedmont Ave? South Berkeley? Point Richmond? Uptown? Rockridge?

I think folks mean to ask which neighborhoods are trendy and strangely magical — luring buyers with delectable urban treats like house-cured local meats and freshly roasted, cold-brewed oji coffee, or bike-sharing, art galleries and parklets. But hot is not just about hip — and savvy buyers and sellers know this.

There are certain neighborhoods that always claim high prices, are competitive for buyers, easy to sell, and increase in value over time. These are stable communities, often with good schools, access to amenities and easy commutes.

Trends come and go. Real estate moves in cycles, and sometimes by the time you catch the trend you’ve missed the flow of the cycle—when you can find great deals or sell before the market changes, or be at the front of the next “hot” neighborhood.

When I’m talking with a client about selling their home, being in a “hot” neighborhood could mean a lot of extra value to them if they play their cards right.

When a buyer is looking for the next hot area, they want to buy into a place while it’s trending up, so they can feel secure in their investment or get in before it becomes too spendy.

So what’s hot right now in the East Bay?

Let’s look at the neighborhoods with the highest median sales price, the greatest year over year increase in price, the homes selling the most over their asking price, and the ones selling in the shortest time*.

THE 5 HOTTEST NEIGHBORHOODS:

Highest median sale price: (otherwise knows as Always In Demand)
1. Piedmont: $1.635M
2. Claremont, Berkeley: $1.363M
3. Rockridge (Upper), Oakland: $1.325M
4. Berkeley Hills, Berkeley: $1.043M
5. Rockridge (Lower), Oakland: $913K

Greatest year-over-year increase in price:
1. Eastmont, Oakland: 97%
2. Belding Woods, Richmond: 65%
3. Iveywood, Oakland: 60%
4. Webster, Oakland: 59%
5. North & East Richmond: 59%

Furthest over asking:
1. Claremont, Berkeley: 26.5%
2. Rockridge (Lower), Oakland: 18.8%
3. Frick, Oakland: 17.4%
4. Brookfield Village, Oakland: 15.6%
5. Cox, Oakland: 14.7%

Shortest Number of Days on the Market:
1. Davis Tract, San Leandro: 7 days
2. Cox, Oakland: 8 Days
3. Brookfield Village, Oakland 8 Days
4.  Bay Farm Island, Alameda: 14 Days
5. Eastmont Hills, Oakland: 14 Days 

*At least 5 single family home sales in both quarters.

Are you looking in these neighborhoods? Are you finding them particularly competitive? What do you think?

Let me know at corey@orangedoorproperties.com