East Bay Market Stats

Increasing Bay Area Home Prices - What to Do?

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RISING HOME PRICES

With a 6 year streak of rising home prices in the Bay Area, and median prices jumping double digits in each of last eight months, buyer demand continues to outpace the supply of available homes.

SALES PRICING

Year to Year sales price records shows an 11% increase in Alameda County for  a current median sale price of $810,000 and 8.4% price jump in Contra Costa for a median sale price of $591,000. 

FACTORS

Median prices in the entire Bay Area jumped nearly 15% in the last year owing to a booming tech sector and the region’s job growth which is outpacing new construction.

More mid and high-end homes are on the market with a lower inventory of affordable homes.

BUYERS

It’s a challenging time for buyers who need to make sure their agent helps determine a winning offer strategy.

SELLERS

Sellers face the challenge of pricing realistically and must think about selling now, rather than holding in hopes of further pricing increases. 

INTEREST RATES

The economy has made nearly a full-recovery since 9 years ago ago when the housing downturn took its toll. Interest rates usually rise when the economy is robust as with the latest increase of March 21, 2018. It may be wise to move to lock in today’s rates.

Next Level East Bay Real Estate Representation! 
PATTY ROGERS | The Grubb Co. | Broker Associate, BRE#00669968 

Excerpts for this post from @theeastbaytimes | Bay Area Home Prices Continue Upward to Record Heights | By Louis Hansen | Bay Area News Group

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Last 30 Days in East Bay Real Estate - Stats

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Overall the East Bay continues with a brisk real estate market, improving inventory and buyers poised to leap in the 50 neighborhoods of Oakland, Berkley and Alameda. Here are the stats for 4 neighborhoods. Connect with me for more neighborhood info.

BERKELEY

  • SOLD 15
  • New 27
  • Active 40
  • Median Days on Market 11

MEDIAN PRICE

  • SOLD $1,375,000
  • Active $1,077,500
  • Sale to List Price 113%

Patty: A brisker market in Berkeley allows buyers to choose from more, yet still limited inventory while keeping room in the budget for a winning bid.

NORTH BERKELEY HILLS

  • SOLD 3
  • New 4
  • Active 7
  • Median Days on Market 11

MEDIAN PRICE

  • SOLD $1,375,000
  • Active $1,249,888
  • Sale to List Price 109%

Patty: Homes for under $1.5M are available, with a short viewing period and buyers ready to offer and compete in the market place. Inventory is slowly picking up.

ALAMEDA

  • SOLD 31
  • New 20
  • Active 27
  • Median Days on Market 11

MEDIAN PRICE

  • SOLD $780,000
  • New $764,500
  • Active $839,000
  • Sale to List Price 108%

Patty: With a fairly brisk market in Alameda, homes are available under $1m. Buyers are well prepared to offer competitively, with an eye on homes with added value potential.  

PIEDMONT

  • SOLD 4
  • New 2
  • Active 2

Median Days on Market 3

  • MEDIAN PRICE
  • SOLD $2,575,000
  • Active $1,773,500

Patty: Currently on market, only two 3 and 4 bedroom homes available for under $2m. Piedmont home purchases are at a premium with buyers poised to leap. Bring your best first.

Next Level East Bay Real Estate Representation! Patty Rogers, The Grubb Co., Broker Associate, BRE#00669968  Doing business by your referrals.

#buyingahome #thescoop! #eastbaymarketreport #januaryeastbay #eastbayneighborhoods #eastbaylocal #eastbayrealestatemarket #pattyrogers #brokerassociate #eastbayrealestate #sanfranciscoeastbay #modicumofcharm #homesforsaleinoakland #homesforsaleinberkeley #igotyourback #thegrubbco #grubbco #aroundtheblock #40yearsinrealestate #realestatecloser #hiphomes #NoBS