Berkeley Dwelling Sells for $1 Million Over Asking After Getting 29 Provides – CBS San Francisco
BERKELEY (KPIX) – Bid wars for homes in the East Bay are not uncommon during the pandemic as teleworkers began to seek more space for their families. But selling a home for $ 1 million above demand was a first for Grubb Co. stockbroker Jill Carrigan.
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 – double the asking price.
“The view is simply fantastic,” says neighbor Linda Schwat.
Elaine Parker has lived in the neighborhood for nearly 50 years.
“It’s location, location, location, so I’m not surprised,” she said.
The Harvard Circle home near UC Berkeley has 3 bedrooms and 2 baths in an area of 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, real estate agent for East Bay The Grubb Co .. “I mean it didn’t give a secret sauce. “
Friedman said houses are currently being sold at all prices.
“A lot of shoppers are really concerned about taking some sort of control over their lives and ‘do we need more space for the kids? Do I need a zoom room, do I need a garden? ‘”Friedman said. “Interest rates are really low, but they’re starting to creep up. That is another motivator. “
New data from Compass shows that the average sales price in Alameda County this year 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.
