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East Bay Real Estate Property Values
Piedmont, Berkeley, and Oakland: A Comparison
Piedmont has long been thought of as one of the most desirable East Bay communities in which to live, and real estate prices certainly bear that out.
The trend over the last twelve months or so has been no different than it has for the last 60 years. The average Piedmont home sells for approximately twice as much as the average Berkeley home, and for about two-and-a-half times as much as the average Oakland home, even when adjusted for factors such as square footage and the condition of the home.
The demand for Piedmont homes is higher than that of its surrounding communities largely because of Piedmont's excellent public school system, its small-town atmosphere, low crime rate and desirable views of the entire Bay Area.
This kind of "micro-market" is actually more common in real estate than you might think. I recently came across a Breckenridge, CO real estate website which does a similar comparison of home prices in Summit County, a popular vacation spot in the Rockies. Unlike the Bay Area, though, this graph in particular seems to suggest that the discrepancy in home prices has emerged just within the last few years.
If you have similar examples from other parts of the country, I'd love to hear about them.
About Matt Heafey - "The Piedmont Realtor"
Matt Heafey is one of Piedmont's top real estate agents. He is a member of the Oakland Board of Realtors, as well as the California and National Associations of Realtors. As a California Licensed Real Estate Agent practicing in Piedmont, he will provide you with responsive, enthusiastic service whether you are interested in buying or selling your home in Piedmont. He is affiliated with The Grubb Company, a group of 55 Realtors representing clients in buying and selling Piedmont homes and Oakland homes, including homes in Rockrdige, Montclair, and Temescal, among other neighborhoods. With a 20-year background in institutional investments, Matt has the knowledge and expertise to help you make critical decisions about one of the largest investments of your life!
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