1

Little boxes: Alameda real estate update

If you’re a house-or-condo-owing Zillow watcher, you have seen the value of your house tumble over the last year, more quickly in the last six months. Nonetheless, Alameda has been so far relatively insulated from the larger drops in value, foreclosures and short sales that have plagued many Bay Area cities and towns as well as the nation.

A recent report looking at real estate sales based on price per square foot, found prices down 8.5 percent in the last year in 94502 and 4.9 percent in 94501. (By way of extreme contrast, in the last year, Richmond’s 94801 zip code had the steepest price plunge in the Bay Area, a 68.8 percent drop from $311 per square foot to $97.)

Alameda real estate agent Pacita Dimacali has this summary of recent real estate activity. She writes, “Some positive things are happening in our local real estate market.” John Oldham’s new blog, 94501 Real Estate, is tracking local market conditions in national context. Oldham reports 13 foreclosures in Alameda in his November 30 report. And for an almost-always-snarky view of local homes for sale check out Knife Catchers.

epearlman

  • Bunche

    Alameda real estate must be an exception to what is going on in the rest of California. Smaller homes are going for many thousands of dollars above the asking prices. What is this trend all about?