Oakland’s Hot Real Estate Market Keeps Soaring for Lake Merritt Condos

Oakland’s Hot Real Estate Market Keeps Soaring for Lake Merritt Condos

 

Oakland Red Hot Real Estate Markets Keep Soaring for Condos around Lake Merritt! Seems like talk of a real estate recession in the SF Bay Area is completely over nowadays with the rush of buyers in Oakland right now! Just Sold: 325 Vernon Street, #104, sold 9 days on the market; the appetite for buying is real in Oakland.

 Young professionals and dot-comers are choosing Oakland sometimes over million dollar places in San Francisco because condos in Oakland’s Adams Point — a unique area of Lake Merritt — are so desirable. In addition to the sexy condos, the area has lots of great bars and upscale restaurants, a Whole Foods, and Grand Lake farmers market, all in close proximity to Lake Merritt.

Oakland Red Hot Real Estate Markets Keep Soaring for Condos around Lake Merritt!

 

Seems like talk of a real estate recession in the SF Bay Area is completely over nowadays with the rush of buyers in Oakland right now! Just Sold: 325 Vernon Street, #104, sold 9 days on the market; the appetite for buying is real in Oakland.

Grand Lake Theater

 

Young professionals and dot-comers are choosing Oakland sometimes over million dollar places in San Francisco because condos in Oakland’s Adams Point — a unique area of Lake Merritt — are so desirable. In addition to the sexy condos, the area has lots of great bars and upscale restaurants, a Whole Foods, and Grand Lake farmers market, all in close proximity to Lake Merritt.

 

Oakland’s Whole Foods market provides hip urban dwellers with more options to hang out, grab food, and walk to BART nearby to visit friends in San Francisco. With market experts predicting high rents for years to come, condos near Lake Merritt will remain scarce; huge demand and continual low demand will only increase prices.  

The Star on Grand Avenue

Oakland’s hot trendy downtown, coupled with upscale bars, new restaurants such as Penrose sprouting up daily, and an immense need for new housing for new residents — you have the real estate thirst 

happening. Rents for 1 bedroom units range in price from $1400 to $1800 a month, in some cases right now.

Matter of fact, the word recovery might not be the precise word to describe the bay area market anymore. Below is a snapshot of past sales.

 

Address

Status

SOLD Date

List Price

Sold Price

Area

424 ORANGE ST

Sold

11/14/2013

$199,888

$251,000

Oakland Zip Code 94610

455 CRESCENT ST

Sold

12/13/2013

$235,000

$310,000

Oakland Zip Code 94610

3648 GRAND AVE

Sold

11/7/2013

$239,000

$286,000

Oakland Zip Code 94610

85 VERNON ST

Sold

11/27/2013

$265,000

$280,000

Oakland Zip Code 94610

466 CRESCENT ST

Sold

11/8/2013

$315,000

$410,000

Oakland Zip Code 94610

325 VERNON ST

Sold

11/20/2013

$389,000

$400,000

Oakland Zip Code 94610

376 ORANGE ST

Sold

10/31/2013

$459,000

$520,000

Oakland Zip Code 94610

376 ORANGE ST

Sold

12/12/2013

$475,000

$475,000

Oakland Zip Code 94610

150 PEARL ST

Sold

12/13/2013

$218,000

$248,000

Oakland Zip Code 94611

771 KINGSTON  AVENUE

Sold

11/13/2013

$230,000

$240,000

Oakland Zip Code 94611

127 BAYO VISTA AVE

Sold

11/20/2013

$249,000

$297,500

Oakland Zip Code 94611

1 KELTON CT

Sold

11/8/2013

$260,000

$296,000

Oakland Zip Code 94611

 Jonathan Fleming Broker