Montclair Market Trend
February 2, 2010 Market Trends
Values in the Montclair neighborhood in Oakland, CA are holding up fairly well compared with many areas. Since early 2006 to the present, prices have declined approximately 20% , from about $450/sf to about $360/sf. The market appears to be stabilizing at this time, as it is in much of the Bay Area.
Click on Chart to Enlarge
The chart displayed is a regression analysis of sale in Montclair since 2006. Each point on the graph is a home sale expressed in $/sf. This analysis basically draws a trend line equidistant from all points (using a 3rd factor polynomial). There is a wide variation in price/sf in Montclair. Views, construction quality, house size, condition, and lot size vary substantially. All these impact the price/sf. Web sites for evaluating the value of your house just can’t take this into consideration. There is still a job for appraisers.
