Bay Area real estate shows extreme price fluctuations

Recent real estate transactions in the Bay Area highlight significant volatility and extreme bidding activity. In Berkeley, a 1906 Craftsman home at 2129 Roosevelt Ave. sold for approximately $2.05 million, which was 87% above its $1.095 million asking price. The buyer submitted a preemptive offer to avoid a bidding war after a highly attended broker tour.

In Mill Valley, a single-level property at 114 Lomita Dr. closed at $3.415 million, representing a $940,000 premium over its $2.475 million list price after only six days on the market.

Conversely, a sale in San Francisco’s Excelsior district showed different market dynamics. A five-bedroom home at 737 London Street closed at $1.04 million, which was $80,000 or roughly 7.14% below the original asking price of $1.12 million.