Oakland Loft Market Update - Jack London Square/Warehouse District
In 2011, a total of 82 condominums and lofts sold in the Jack London/Warehouse District. The average list price was $284,831 and average sales price was $274,957. The average days on market (DOM) was 61 days.
Last year the highest price paid for a JLS unit was $749,000 (2 bed/2 bath unit in the Ellington) and the lowest was $57,500 (1 bed/1 bath bank-owned unit in Portabello).
2011 was a transitional year for the area. Sales were up, prices down and interest rates were and still are at an all-time low. Banks started to streamline short sales resulting in fewer foreclosures, and some values were affected by litigation in one development. Currently, we are seeing many buyers wanting to enter the market, but inventory is extremely low.
If you are thinking of selling your unit in 2012, please complete a CMA form at JackLondonCMA.com and I will be happy to put our marketing and sales expertise to work for you!
Loft buyers should visit East Bay Lofts and explore units available by building/development.
For more detailed information, including a breakdown of sales per building, please send an email to [email protected]
Disclaimer: Sales data is based on sales reported in EBRDI and is not verified and is subject to change.