Oakland Home Values Continue to Rise

Oakland Home Values pic

Oakland Home Values
Image: sfexaminer.com

A graduate of the University of California, Berkeley, Neill Sullivan studied development economics and Spanish. Neill Sullivan leverages his experience to lead REO Homes, LLC; SMC East Bay; and Sullivan Management Company, LLC, in Oakland, California, which has seen considerable growth in home prices in recent years.

Since 2001, Oakland’s median home price has risen by an astounding 178 percent. As of June 2016, Oakland reported the biggest rise of the year in home appreciation in all of California and the largest increase in rent of the 50 biggest cities in the United States, per data gathered by Zillow. Further, Oakland’s home prices rose 16 percent to a median of $616,300, compared to prices in June 2015.

Oakland’s growth is largely attributed to high prices in San Francisco, but buyers and renters alike are also attracted to the city’s cultural offerings and diverse population. The city may continue to see growth, as Uber plans to open an office in the former Sears building in late 2017.