Market Conditions in Oakland>Question Details

Trulia Oakla…, Home Buyer in Oakland, CA

Are the Lake Merrit improvements having an impact on housing prices nearby?

Asked by Trulia Oakland, Oakland, CA Mon Mar 19, 2012

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Dear Trulia Oakland,

I think so, I enjoy going around the lake more now since there are grassy areas to have picnics and/or read a book.

Very Truly Yours,

Claire Wills

2 votes Thank Flag Link Sat Jun 16, 2012
It will certainly draw more potential buyers to the area. One only has to go to Lake Merritt and see the number of people walking, jogging, cycling, picnicking. It's a hubbub of activity. As more people become conscious of the benefits of urban lifestyle (and shorter commutes), they will look for properties with high WalkScores.

The newer establishments like Lake Chalet restaurant and the Basilica of Light, as well as the towering Essex condominium complex add to the benefits of living there. Now that they are also adding more parks and bicycle lanes, Lake Merritt is an absolute pleasure.

My parents live across Lake Chalet -- so I visit quite frequently and love all the improvements.
1 vote Thank Flag Link Mon Jun 18, 2012
Dear ?
My short answer is that I'm not seeing it yet. But I expect they will as soon as the improvements are complete and as soon as the public realizes that the market has turned.
Good question!
1 vote Thank Flag Link Mon Mar 19, 2012
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