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Your Monthly Analysis: Median Price Trends for Berkeley Condos

Propelled in part by San Francisco's resurgent condo market is Berkeley's condo market. The dearth of overall condo inventory available in SF, plus renewed tech-related job growth all over the Bay, has pushed many potential city condo buyers east. These buyers who've given up on competing for a San Francisco condo join thousands of would-be condo buyers who've always wanted to buy in Berkeley, making for stiff competition. Movoto offers excellent data on each facet of Berkeley's condo market.

Though we see here the median list price (less telling then the median sold price), we also see decreases in days on the market and inventory, all of which contribute to double-digit gains in home values.

With this kind of popularity, Berkeley condos don't come down in price too often. That trend has been more striking than ever in the last quarter of 2012, leading into 2013's first months. Again, we draw from Movoto's data and confirm: fewer listings total and fewer price reductions go hand-in-hand.

Will Berkeley become just as difficult and cut throat as San Francisco for would-be condo buyers? Unless new construction in the city adds housing units for purchase, not just for rent, we don't think Berkeley's condomania likely to abate anytime soon.
· Berkeley, CA Real Estate Statistics [Movoto]
· Over 1,000 New Housing Units Planned for Berkeley [CurbedSF]
· Your Monthly Analysis: Median Sold Trends for SF Condos [CurbedSF]