Homes That Have Been On The Market Awhile In Piedmont

Two things happened in the real estate market in the Bay Area in August.

Housing prices decreased from the month before and home sales slowed down, according to information released by DataQuick.

In August, the median price paid for a home in the Bay Area was $540,000, down almost 4 percent from July and up 31 percent from August 2012. A late summer dip in prices isn't unusual, it should be noted.

Home sales in August in the Bay Area fell 7.7 percent from July and decreased 0.6 percent from August 2012.

This has caused some home sellers to reduce their prices. Others have had to settle in and leave their houses on the market longer than they probably expected.

In Piedmont, this eight-bedroom, seven-bathroom home at 17 Sotelo Ave. has been on the market for 205 days and seen its price reduced from $4.9 million to $4.5 million.

The 8,199-square-foot home was built in 1922 and sits on three-quarters of an acre.

Do you know of other homes that have reduced their price or been on the market for awhile? Let us know in the comments section.

This information was provided by Corey Weinstein, Broker Associate, Red Oak Realty, 510-708-0789 or corey@orangedoorproperties.com. Featured properties may be listed by a variety of local firms--agent does not represent this property.