Incredulous Multiple Offers in Berkeley/Elmwood

Real Estate Agent with McGuire Real Estate

This has been the summer of multiple offers in the Berkeley-Oakland real estate market, especially in the much sought after market of The Elmwood.After a 5-year slump, this summer has been the summer of multiple offers in Berkeley-Oakland.  One astonishing example is a recent listing I had in the Elmwood on Piedmont Avenue (see 2620 Piedmont Ave.).

It was an historic house – the Gester House – and close to campus with 4 bedrooms and about 2,700 square feet.  We listed it for $1,195,000.  Truly, I expected a few offers.  We had over 30 disclosure packages out.  But we got 15 offers! And it ended up going over $300,000 above the asking price!

To be sure, it was marketed well and broadly.  We cleaned and staged.  But it’s also an indication of the demand for homes in the Elmwood area of Berkeley.  The Elmwood has become the destination of choice for Buyers in 2012…it’s close to coffee and campus, walk to everything and it’s an urban, but nice neighborhood.

In this era of tweets and Facebook and being constantly connected, the most important thing is to be close to everything that’s happening…in the Elmwood.

For a consultation on luxury homes in the East Bay, feel free to call me in my office: 510-847-2409.

Barbara Reynolds, your East Bay real estate specialist

Originally posted on my Elmwood Homes real estate blog here:

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