Tuesday, October 27, 2009

Breaking Down Berkeley's Median Home Price Statistics.

In our last post we provided the Median Home Prices for Alameda and Contra Costa Counties. We also stated that:
This is not an automatic indication of the depreciation of your individual home. Our area contains many unique geographic pockets and real estate is still acting in a hyper-local manner.
This statement is more profound and dramatic than our previous post illustrates. In this post we have taken two Berkeley zip codes, 94702 and 94708, and charted a graph for each zip code's year performance.

(Click on the graphs for a larger view)

These two zip codes alone represent a 64 point statistical spread. The graphs stress that this area does not lend itself to blanket statements about "the current market." The city statistics can not accurately depict values for individual neighborhoods. National statistics and trends are even less telling. Talk to your Realtor (or one of Berkeley Hills Realty's qualified agents) to get a better understanding of this hyper-local phenomenon.

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