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Prices Are Relative
We move for different reasons. Yet we have one thing in common if we are considering the purchase or sale of a home in our local market: the realization that our area is expensive. What does “expensive” actually mean? After all, prices are relative. A median priced home in our local market* for the third quarter was $739,000 compared to $468,900 for all of Alameda County (in August, per the California Association of Realtors). In fact, our area’s median price was higher than the average in every county in the state with the exception of Marin and San Mateo counties. While I am not suggesting that prices are cheaper in Atherton, Malibu or Ross, I can conclude that the combined area of Piedmont and the hills of Oakland and Berkeley is a very pricey enclave.
So, when a buyer or seller is considering a move either out of or into one of our neighborhoods, the financial considerations are usually better for someone leaving the area than coming in. Within our community, however, the economic considerations are a bit trickier. I find it most useful to think about the relative values of a similar sized house in one neighborhood compared to another, ... more

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