Let’s start with the facts.
Two hundred and eighty-three homes have been sold in Oakland in the last 30 days. That includes condos, single-family homes, short sales, and everything in between. The median list price is $649,000, though the median sold is $700,000. That means that homes are selling for 11.4 percent more than the asking price. There’s also an average of 6.9 offers on each property, though that’s skewed because there are some properties that received dozens of offers and plenty of properties that only received two or three.
It’s also worth mentioning that the asking price for homes in Oakland has increased nearly 10 percent since June of last year, while the number of homes available for sale has decreased more than 10 percent.
That said, Oakland’s a big place with a lot of land, and there are still plenty of great homes for sale for a reasonable price. Below you’ll find a selection of properties in Oakland that are fabulous and under $500,000.
This circa-1906 three-bedroom home in the incredibly charming Highland Terrace neighborhood clocks in at 1,200 square feet and has one bathroom. It’s a fairly traditional craftsman—there’s a large sitting porch in the front and architectural highlights inside, like a plethora of built-in cabinetry, boxed ceiling in the dining room, and what appears to be a nonworking but beautiful fireplace. There’s also a well-kept backyard with a very large covered patio. The address has a Walk Score of 73.
Located in the Center Street Lofts in West Oakland, this airy and bight loft has one bedroom and a full bathroom upstairs with a half bathroom on the main level. Square footage is just under 900. The loft’s been remodeled—the floors are polished concrete (while the bedroom is carpeted) and the kitchen is sleek. An interesting observation: There are no wall windows, only a generous amount of skylights. HOA dues are $262 per month, and there’s assigned parking. The Walk Score is 82.
If you want the most bang for your buck, this home in Millmont is your best bet. It has three bedrooms, two bathrooms, and over 1,200 square feet. In the backyard you’ll find a cottage complete with its own kitchen, as well as a garage that’s been converted into a studio or office. The location has a Walk Score of 76.
Located on a tree-lined street in Lower Rockridge, this one-bedroom home with one bathroom comes in at a cozy 530 square feet. It’s one of four condos in the four-unit building, and has shared access to a laundry room, a garden with eight fruit trees, and a shed for storage. Inside the condo there are butcher block countertops and stainless steel appliances in the kitchen. There’s also a partially finished attic for extra storage. It has a Walk Score of 92.
Nestled into the hilly part of MacArthur between the Dimond and Laurel districts sits this Spanish-style home. Roomy at just under 1,200 square feet, the abode has two bedrooms and two bathrooms, plus a detached garage. There’s also a pretty large backyard that’s mostly concrete (with a generously sized covered sitting area). It has a Walk Score of 80.
This is a great location if you plan to live in Oakland without a car (it’s so doable). It’s got a Walk Score of 99 and is just over six blocks from the nearest BART station. It’s also a mere block from Lake Merritt and all the surrounding attractions. The one-bedroom, one-bathroom condo is located in a gated complex. Amenities include a courtyard and an outdoor pool. HOA dues are $348 per month.
What we like about this condo is the extra mile the current owner went to customize the design of the space. The overarching theme was a modern farmhouse, and the Home Co. design team nailed it. From the wide-plank flooring in the main living area to small details like the barn lighting and stone countertops in the kitchen, the place looks and feels like a really nice place to call home. It clocks in at 695 square feet and has one bedroom and one bathroom. HOA dues are $323 per month, and building amenities include garage parking, a gym, and a pool. The location has a Walk Score of 92.
Located in the Allendale neighborhood, this home is just across the 580 freeway from the Laurel District. There’s hardwood flooring throughout and a landscaped backyard. The two-bedroom, two-bathroom, 716-square-foot cottage just landed on the market. It has a Walk Score of 83.