The year started slowly, but the last couple of months have made up for lull in the Eichler market in Castro Valley. On August 12th, not 1, but 2 Eichler homes in the neighborhood were sold and 2 weeks later a bank owned property at 5638 Greenridge came on the market. 5638 received multiple offers and is already in contract. Since then, 2 more listings have come on the market, one at 5288 Crown Court and the other at 5941 Highwood, which you may remember from earlier this year. If you saw Highwood before, you should see it again because a lot of work has been done to finish the home and make it much more livable. It may not be for the Eichler purist, but it does have a lot of the original aesthetics and it’s on a great block.
Needless to say, Greenridge is closing on a very active note in 2011 and it’s understandable. We live in a very desirable neighborhood and there’s a lot of value currently in the market. Combine value with the ridiculously low interest rates and you have more buyers than sellers. This was obvious with the activity at 5638 Greenridge which received multiple offers, and I expect the market to remain so until further notice.