Real estate in the East Bay was a tale of two markets in 2022. The year started as a continuation of 2021’s trends: sellers with all the power, buyers in desperation, wild over-asking prices and multiple offers. But everything began to change midyear, and now, in most respects, the power has shifted to buyers.2021 was a record-breaking year for East Bay real estate. Berkeley and Oakland both hitmedian sales prices of $1.6 million and $1.1 million, respectively, jumping more than 13% from 2020.
The East Bay’s continued high demand could in part reflect San Francisco’s newsworthy emigration trend in 2022: An American Housing Survey released in October found morethan any other city in the U.S. But most don’t go too far. Crawford, who often works with buyers moving from San Francisco to the East Bay, said that “Oakland, Berkeley, Alameda and Piedmont were the cities my clients most moved to.
is palatial at almost 10,000 square feet, with old world herringbone floors, a spiral staircase, leaded glass French doors and a wine cellar. There’s also an oversized primary suite on the 0.66-acre property, plus a three-car garage, guest quarters on the second level, a greenhouse, lawns, patios and a pool.
“The instances where we were seeing things sell 40, 50, even 60% over asking price were generally in the high $900,000 to low $2 million range,” Crawford said.