Oakland's Average Home Price Soars 76% in One Year (Los Angeles: lofts, houses)

[jade408]

There are also quite a few really nice blocks in West Oakland as well, with well restored Victorians.

[18Montclair]

Originally Posted by dragontales

We need to know how much the home prices dropped during the economic collapse. This 76% could be a bit misleading. For example if a home dropped from $300K during the bubble bursting time down to say $100k, then from that $100k it increased to $200k in just one year. That would be a Whopping 100% increase year over year. I'm just using this price as an example. It's not reflective of Oakland's current home prices.

I pretty much sense this as well. This huge rise is more of a correction as short sales and foreclosures subside, more market rate prices are becoming the norm again.

Still, from the standpoint of affordability, Oakland had a real advantage with lower home prices and I hope it doesn't get too high.

[Tallysmom]

I was going to point out the map doesn't show the hard hit areas of Deep East -- my value has gone up around 35%.

Not bad by any stretch, but I'm not sure if we people in the scary flatlands were included....

[ssmaster]

the average 2 bedroom apartment in san francisco lists for $4000

cnn/ money magazine,forbes,the huffingtonpost,new york times,food & wine magazine,boston globe,la times ,washington post,new york magazine,travel +leisure,sunset magazine,7x7 sf,smartertravel,sacremento bee,tastingtable,diablo magazine,conde nast traveler,businessweek,outside magazine,the city traveler,bon appetit magazine and wall street journal encourage people to check out oakland
oakland has become a dining destination in the national media

i think these 2 scenarios are adding to increased rents and home prices in oakland

[Stephen1110]

It's a very weird looking map. The white line indicates city limits? Where's 94618? (Upper Rockridge, Hiller Highlands, Rockridge) Isn't 94705 a part of Oakland? (Claremont Hills, Panoramic Hill)

[18Montclair]

Originally Posted by Stephen1110

It's a very weird looking map. The white line indicates city limits? Where's 94618? (Upper Rockridge, Hiller Highlands, Rockridge) Isn't 94705 a part of Oakland? (Claremont Hills, Panoramic Hill)

Yes, I did notice the absence of my zip code, 94618.

Also, it should be pointed out that the nicer parts of town didn't really lose much value, even throughout the depths of the housing crash, prices remained stable.

[dragontales]

Originally Posted by 18Montclair

Yes, I did notice the absence of my zip code, 94618.

Also, it should be pointed out that the nicer parts of town didn't really lose much value, even throughout the depths of the housing crash, prices remained stable.

That really makes this 76% claim misleading or even inaccurate.

[18Montclair]

Originally Posted by dragontales

That really makes this 76% claim misleading or even inaccurate.

Well, I don't know, I'd have to see the data before I start throwing out claims of misrepresentation against the creator of the link.

And ps, it's not that serious.

[Stephen1110]

Number of million dollar homes sold in the month of August - in Oakland - is 24

PleasantonWeekly.com : Luxury home sales up 74% in East Bay

[Stephen1110]

Originally Posted by Stephen1110

Number of million dollar homes sold in the month of August - in Oakland - is 24

PleasantonWeekly.com : Luxury home sales up 74% in East Bay

within the last 9 months, 164 million dollar homes have been sold in Oakland.