East Bay Eichler Home Sales in 2011 - Market Update
In 2011, a total of 18 Eichler Homes were sold throughout the East Bay. Overall the average list price for an Eichler home in the East Bay was $506,285 and the average sale price was $504,995. The average days on market (DOM) across all towns were 48 days.
Last year the highest price paid for an East Bay Eichler home was $765,000 (a 4 bedroom home in Walnut Creek) and the lowest price paid was just $256,000 (a bank owned 4 bedroom home in Concord). Within this newsletter we've included additional information regarding 2011 sales by town.
Beyond Eichler sales, 2011 was a transitional year for real estate across much of the country, including the San Francisco Bay Area. We generally saw less volatility in the local real estate market - sales were up, prices were down and interest rates were (and still are) at an all-time low. Additionally, banks started to implement systems to streamline both the short sale and loan modification process which resulted in fewer bank owned properties and notices of default given to underwater borrowers.
Currently we are seeing many buyers wanting to enter the market however inventory is extremely low.
If you're thinking of selling your Eichler home in 2012, please give me a call at 510-999-0923. We'd be happy to put our Eichler home marketing and sales expertise to work for you!
Stay tuned for upcoming East Bay Eichler blogs including a detailed look at each East Bay Eichler neighborhood.