May’s numbers for Berkeley continue to show an area where the normal rules of physics and economics don’t apply.

Hey, what do you want, it’s Berkeley.

Someone forgot to tell the area buyers that we’re in a housing recession or a bubble or some such, because Berkeley buyers purchased 65 residential units this May as against 61 last May — a 6.6% increase. At the same time, fewer homes expired this May (seven) than last (eight), bringing the already healthy 13.1% expired to sold ratio from last year down to a meager 10.8% this year.

Alright, I suppose there are a few signs of slowing. Days on market are up to 20, from 18. And appreciation has just about capped. This May’s median sale price of $730,000, is actually down 3.7% from last May’s $758,000. At the same time, this year’s average of $807,207 is up 2.4% over last year’s average, and the average sold price per square foot is up 6.6% over last year.

This entry was posted on Sunday, June 25th, 2006 at 6:16 pm and is filed under Market Updates, Blogathon for Hunger, Berkeley. You can leave a comment, or trackback from your own site.

May’s numbers for Berkeley continue to show an area where the normal rules of physics and economics don’t apply.

Hey, what do you want, it’s Berkeley.

Someone forgot to tell the area buyers that we’re in a housing recession or a bubble or some such, because Berkeley buyers purchased 65 residential units this May as against 61 last May — a 6.6% increase. At the same time, fewer homes expired this May (seven) than last (eight), bringing the already healthy 13.1% expired to sold ratio from last year down to a meager 10.8% this year.

Alright, I suppose there are a few signs of slowing. Days on market are up to 20, from 18. And appreciation has just about capped. This May’s median sale price of $730,000, is actually down 3.7% from last May’s $758,000. At the same time, this year’s average of $807,207 is up 2.4% over last year’s average, and the average sold price per square foot is up 6.6% over last year.

This entry was posted on Sunday, June 25th, 2006 at 6:16 pm and is filed under Market Updates, Blogathon for Hunger, Berkeley. You can leave a comment, or trackback from your own site.