Berkeley Residence Sells for $1 Million Over Asking After Getting 29 Gives – CBS San Francisco
BERKELEY (KPIX) – Bid wars for homes in the East Bay are not uncommon during the pandemic as distant workers began looking for more space to house their families. However, selling a home for $ 1 million on demand was a first for Jill Carrigan, listing agent at Grubb Co.
The mid-century home at the end of a quiet cul-de-sac near Grizzly Peak received 29 offers in 11 days, Carrigan said.
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It sold for $ 2.3 million – twice the price.
“The view is just fabulous,” said neighbor Linda Schwat.
Elaine Parker has lived in the neighborhood for nearly 50 years.
“It’s place, place, place, so I’m not surprised,” she said.
The Harvard Circle home near UC Berkeley has 3 bedrooms and 2 bathrooms in over 2,400 square feet.
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“It’s a great property at a great time and people loved it, and that’s a general answer, but that’s the answer,” said Michael Friedman, broker for East Bay The Grubb Co. “I mean there was no secret sauce. “
Friedman said houses sell at all prices right now.
“Many shoppers are really concerned about taking control of their lives and do we need more space for the kids? Do I need a zoom room, do I need a garden? ‘”Said Friedman. “Interest rates are really low, but they’re starting to creep up. That’s another motivator. “
New data from Compass shows that the median sales price in Alameda County this year has increased 22% to $ 1.1 million, compared to the same period in 2020.
It boils down to supply and demand, added Friedman.
“I can understand why the market is still booming despite the pandemic,” said Schwat.
The Grubb Co. says Berkeley homes are typically on the market for less than two weeks, so being a buyer with so much competition is a difficult time.
