Sales of foreclosed homes continue to drop as a percentage of overall volume as the Bay Area housing market recovers from its collapse five years ago. In November, the Bay Area recorded the most home sales for that month in six years.
The familiar trinity of cheap money, high demand and tight supply is driving the market, according to the San Francisco Chronicle. The median Bay Area sale price in November was $438,000, up 20 percent over 2011.
Foreclosure resales represented slightly more than 10 percent of the market, compared to 25 percent a year ago and 52 percent in 2009.
Here are October sales for Berkeley.
Berkeley Home Sales by Zip Code, Oct. 2012 Community Zip Code Number Sold Percent Change over Oct. 2011 Median price Percent Change over Oct. 2011 Highest price Price per square foot Percent Change over Oct. 2011 Berkeley 94702 20 100% $446,000 5.9% $806,000 $384 3.2% Berkeley 94703 13 160% $580,000 -7.5% $875,000 $542 9.4% Berkeley 94704 3 200% $770,000 65.6% $1,460,000 $416 -35.1% Berkeley 94705 14 133.3% $826,000 -29.2% $1,850,000 $377 -37% Berkeley 94707 8 100% $896,500 44.7% $2,275,000 $507 6.4% Berkeley 94708 14 75% $800,000 19% $1,955.000 $446 13% Berkeley 94709 4 33.3% $805,750 159.9% $1,000,000 $610 58.4% Berkeley 94710 2 -60% $660,500 61.1% $820,000 $536 40.7% Source: DQ News