Are you finally ready to purchase the luxury home of your dreams? Check out this outstanding bungalow in Oakland.
If you’ve been researching the Oakland real estate market, you should have realized that its rental homes and properties for sale are being touted as the best real estate options in the entire state of California. In 2021, the home prices in the city went up by 2.7% compared to last year, with the median price touching $900K. Homes in Oakland will sell in an average of 38 days of being listed on the market. In April alone, 434 homes were sold compared to only 197 in the previous year.
If you’re looking for a home in the city, take a look at this beautiful Oakland Bungalow in light of the Oakland real estate pricing.
Fantastic Residential Vacancy in Oakland
If you’ve spent time in Oakland, you’re probably aware of the sunny Maxwell Park, a highly sought area in the city. Located in this region is this incredible, updated Bungalow. The property was recently remodeled and includes a novel primary suite bath with dual vanities, recessed lighting throughout and dual pane windows, updated electrical, roof, plumbing, updated kitchen, new paint outside and inside, and a separate laundry room.
The newly landscaped backyard presents a vegetable garden and an awesome space to host parties. The top deck is where you can enjoy your morning coffee with mesmerizing mountain views. The home also contains an unfinished basement that you can transform into a space of your choice.
Oakland Real Estate Prices Overview
Currently, there exist around 2,053 properties in Oakland, with a median home value of $680,950. The median list price/sq. ft. in the city stands at $485. The property we evaluated above costs a hundred thousand dollar higher than the median, that is, $789,000.
Out of the total residential properties in the city, 29% are for rent, 71% are for sale, and 58% are single-family homes. Prices of homes in Oakland, CA are approximately 198% higher than the median home prices in the US.
Over the past ten years, Oakland real estate appreciated by 95.5%, which is why the city is among the top 10% in the US for real estate appreciation. The region’s appreciation rates are so powerful that its properties continued to appreciate faster than the rest of the communities through the nationwide downturn in the real estate market.
A Tremendous Alternative to Silicon Valley Housing
As Silicon Valley became a real estate hotbed, those who can’t afford a decent home is forced to cram into a one-bedroom condo. People have now found an incredible solution: simply drive to the East Bay and acquire a home in Oakland. The fact that the Oakland housing market is in reasonable commuting distance of lucrative, high-tech jobs is creating a strong demand for the city’s rental vacancies.
Conclusion
Keeping in mind the above-discussed real estate trends in Oakland, you don’t have much time to capture the 4508 Brookdale Avenue Bungalow. If you think it accurately represents the dream home you have in mind, plan a visit at your earliest.
For more information on the property, get in touch with the Grubb Co. Realtors.
