š” Insider Report - Wed, Feb 2
š” Insider Report - Wed, Feb 2
5 Bay Area homes under $1M, plus a New York city home for the books.
TRENDS
Market Movement
11 new listings were posted in the past day, a drop from 15 new homes at the same time last week, and 17 homes in the week prior to that. Home prices for most counties are falling, with the exception of San Mateo, Alameda, and Marin counties.
MARKET UPDATES
Quick Clicks
Price dropsĀ (424 today in the Bay):
54 price drops inĀ Contra Costa County, 119Ā inĀ San Francisco,Ā 77Ā inĀ Alameda County, andĀ others.
Last week in theĀ Bay Area:
Most expensive home listed: 17 Guy Place, San Francisco for $15,000,000
Cheapest home listed: 711 Old Canyon Rd #153, Fremont for $105,000
Oldest home listed:Ā 450 Randolph Street, Napa built in 1875
Home with the most beds: 479 32nd Avenue, San Francisco with 8 bedrooms
Home with the most baths:Ā 115 Sunshine Drive, Pacifica with 9 bathrooms
OUTSIDE INSIDER
š A New York City home where history meets modernity
Located on a peaceful historic block, this elegant Crown Heights townhouse with 8 beds and 5 baths is beautifully proportioned with extensions on each level. With convenient public transit, easy access to grocery stores and restaurants, and Brooklyn Public Library just minutes away, this home is a catch.
930 LINCOLN Place #NA is on the market for $2,999,000...
Highlights: A duplex below with the opportunity to rent the upper unit, 10-foot ceilings with restored millwork, modern updated kitchen with an island and double pantries, breakfast book apart from a gorgeous dining room and a spacious living room, luxurious primary bedroom suite with double vanity and terrazzo floors, basement family room, and an additional upstairs apartment that welcomes old-world glamour with nine-foot ceilings, intricate woodwork, and 2 garden facing primary bedrooms.
The outdoor patio and garden that can be accessed via the first floor features a cool horizontal privacy wall and is the perfect setup for entertaining guests in the evening.
Check out the complete listing here.
GET SMARTER
Homeownerās Insurance
A form of property insurance that helps homeowners cover any losses or damage to their property, including but not limited to structural damage, loss of assets, and liability protection. Most homeowners purchase homeownerās insurance to protect themselves and their residence against unforeseen events and are only liable to pay a deductible out of their pocket when a claim is made. A typical policy covers the costs needed to restore a home to its original (pre-damage) condition. Almost all lenders will require that a borrower also purchase homeownerās insurance as a condition for funding a mortgage.
A standard insurance policy covers the following three things -
Any exterior or interior damage to the structure of the home, insuredās assets and belongings inside the home, and any other furnishings.
Any living expenses incurred while the residence is repaired, such as the cost of a rental apartment/hotel, or meals.
Limited liability protection in case someone is injured on the property, or if the homeowner is found to be at fault for damaging someone elseās property.
MARKET WATCH
Hottest market of the week - Pittsburg, CA
Our hottest market this week is Pittsburg, with sales volume up by 178% this week! Average days on market were 116 days this month, up from 87 days last month and 25 days last year. Competition is heating up with homes in Pittsburg, CA selling for 6% more than the asking price in the last three months. However, three years ago they were selling at about the asking price.
The median sale price this week of $640k is close to the middle of the range since the mid-November, and lower than the last monthly high of $665k in November 2021; at $390, the price per square foot is also lower than the last monthly high of $405 in November last year. The number of new homes coming on the market each month in Pittsburg increased by 13.64%, while the number of homes sold each month increased by 193.33% over the past 12 months. Popular home searches include an open floor plan, solar system, and big yard.
HOME ADDICTION
5 beautiful Bay Area homes under $1M
Weāre always on the hunt for a good deal, and if the last two years are anything to go by, this has become super important. This week, we uncovered some beautiful Bay Area homes that are currently on the market for less than $1M. Check them out ā
4121 East 16th Street, Oakland: $650,000
This almost new home with a vintage Craftsman design offers an open floor plan, stylish light fixtures, hardwood floors, crown molding, and recessed lighting. A beautiful primary suite with an en-suite bathroom and walk-in closet completes this modern 4-bed, 2-bath home. Check out the complete listing here.2336 Wayfarer Dr, Discovery Bay: $949,000
This 1989 golf course property with amazing views oozes character and warmth. A grand foyer, high ceilings, chefās kitchen with a center island, and an elegant dining room that opens into an outdoor oasis make it the perfect place for entertaining guests. An in-ground pool, built-in BBQ, and a surround-sound media niche make it perfect. Check out the complete listing here.119 27th Street #A, San Francisco: $998,000
This bright and cozy 1-bed, 1-bath condo in the heart of San Francisco is priced just short of a cool million. Wooden floors, exposed beams, and French doors give the condo just the right touch of modern, combined with an updated kitchen, a work nook, and a second den option. A shared yard with mature trees and a patio is perfect for an evening drink with friends and family. Check out the complete listing here.5373 Dry Creek Road, Napa: $699,000
If youāre looking to have family live with you, or hoping to earn some extra bucks by renting out part of your home, this one is for you. With a detached studio on the property, this Napa home is ideal for a small family and some permanent guests. You can enjoy beautiful views from the porches, take in the summer breeze, and relax in front of the fireplace. Check out the complete listing here.5007 Palmetto Avenue #42, Pacifica: $828,686
There is nothing more fascinating than watching endless water views from your own home. This rare top-floor condo located with unobstructed views of the ocean features vaulted ceilings, spacious bedrooms, a remodeled kitchen, and an in-unit laundry. Situated minutes away from shopping centers, restaurants, and parks, this is a hidden gem. Check out the complete listing here.
INSIDER INSIGHT
š Checking in on San Francisco neighborhoods
It's time for our monthly look at how certain neighborhoods are doing in San Francisco when considering the median number of the current age of inventory- time the current homes on the market have been listed for:
Here's how things look: South Of Marketās median price per square foot and median sale price are just at or just below their positions from the end of last year. The percentage under listing that homes sell for has alternated between 1-2% below listing for the past month, while the age of the inventory has jumped up sharply. All this suggests that the SOMA housing market remains relatively cool.
North Beachās median age of inventory has increased for eight weeks straight after falling in the first week of December. The median price per square foot is still below its position from the end of last year, as is the median sale price.
GET IN TOUCH
Have a Great Day
Want to talk to someone about data on homes or have suggestions for this email? Great, our data science team is starved for human contact. Ping us atĀ data-team@zerodown.com.