One of the most important components of our seller and buyer representation is to provide our clients with the research and analysis they need to make informed decisions.
My data comes from the East Bay Regional Multiple Listing Service (MLS). The MLS doesn’t include every home sale, but I feel that it represents a significant sampling of home sales in the area. I download the information from the MLS, then import it into several File Maker Pro databases. Once in the databases, I can easily slice and dice it
Maps and graphs are particularly effective in trends and patterns, so thought you’d be interested in these.
I use the median price to compare one year to the next. The median price is simply the price at which half the homes sold for more, and half sold for less.
The average price is skewed upwards because the most expensive 5-10% of the homes for each bedroom count sell for significanly higher prices than the rest of the homes with the same number of bedrooms.
This graph shows that the median price of Berkeley single family homes stabilized in 2009-2010, and has decreased in the first half of 2011 compared to the value in 2010.
Will be interesting to see what 3rd Quarter 2011 brings.
Visit our Berkeley MLS Research Page to read more