East Bay Market Update - March 2023

Calia Homes is pleased to share our monthly newsletter providing data and detailed insight into the Berkeley, Oakland, and Piedmont housing markets.

 

Feel free to reach out with any questions you may have about the data enclosed or the East Bay housing market.

 

Kind Regards,
Carrie and Jennifer and Calia Homes  Team

 

510.980.9497 | caliahomes.com

For this month’s Calia Homes newsletter, we compared dollar-per-square-foot ($/sqft) values across different-sized single-family homes in Berkeley, Oakland, and Piedmont.

 

Realtors® often talk about how $/sqft values decrease as homes get larger. Our research shows that this is the case.

 

In all three cities, smaller houses are sold on a higher $/sqft basis than larger homes. When comparing the data across cities, Piedmont has the highest $/sqft prices, on average, for all three size categories of homes

 

 

 

The highest city-wide $/sqft values appear to be in Piedmont, with a population of approximately 11,107. Oakland, by comparison, has a population of 433,823 - 39 times the size of Piedmont. (Berkeley falls in the middle with a population of 117,145.)

 

Because of the large variation in city sizes, we thought it would be interesting to compare Piedmont housing data to housing data for an adjacent Oakland zip code, 94618, with 17,324 people. (Population information from 2021 US Census Data.) The 94618 zip code includes Rockridge and Upper Rockridge.

 

We found that 2-bedroom, 1-bath houses in Rockridge sold, on average, for 5% more than Piedmont homes of a similar size.

 

While the $/sqft prices for 3+ bedrooms, 2+bath homes (between 1,501-2,500 sqft) were similar across Rockridge and Piedmont, Rockridge homes in this mid-size group sold for nearly 1% more than in Piedmont. There were also more sales of homes in both size categories in Rockridge.

 

Looking at the data for larger-sized homes (2,501+ sqft), we found that there were more home sales in Piedmont and that, on an average $/sqft basis, they sold for nearly 18% more than in Rockridge.

 

Based on information from the MLS. All data, is obtained from various sources and has not been, and will not be, verified by the broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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