| Trends at a Glance | |||
| (Single-family Homes) | |||
| Oct 08 | Sep 08 | Oct 07 | |
| Median Price: | $410,000 | $425,000 | $647,000 |
| Average Price: | $480,854 | $514,871 | $746,661 |
| Home Sales: | 965 | 758 | 447 |
| Sale/List Price Ratio: | 98.3% | 98.5% | 98.3% |
| Days on Market: | 47 | 50 | 42 |
Sales of single-family, re-sale homes rose 115.9% year-over-year in October. This is the fourth month in a row homes sales have been higher than the year before. Year-to-date, home sales are up 6.4%.
The median price for homes fell 3.5% from September, a drop of 36.6% compared to October 2007. The average price was off 6.6% month-over-month, and down 35.6% year-over-year.
Bank-owned property sales continue to dominate the market, driving down statistical prices because most of these properties are in the entry-level segment of the market. The good news is that they are selling quickly, thereby reducing inventory and shortening the time until we reach a normal market again.
The following chart shows the percentage of homes sold in three market segments: under $500,000, between $500,000 and $1,000,000, and $1,000,000 plus. You can see that the under $500,000 segment of the market is the most active, accounting for 62.5% of all sales last month.
Condo sales rose 25.6% from September, and were up 91.5% year-over-year. The median price for condos fell 6.9% compared to September, and was off 32.3% year-over-year.
The sales price to list price ratio, or the price paid for a home compared to the asking price, fell 0.2 of a point to 98.3%. The ratio for condos gained 0.6 of a point to 97.9%.
Days on market for homes fell three days to 47 days. Days on market for condos rose three to 53 days.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or property, call me.
If I can help you devise a strategy, call or click the buying or selling link in the menu to the left.
Complete monthly sales statistics for the Alameda County are below. Monthly graphs are available for each city in the county.
| October Sales Statistics | ||||||||
| (Single-family Homes) | ||||||||
| Prices | Unit | Change from last year | ||||||
| Median | Average | Sales | DOM | SP/LP | Median | Average | Sales | |
| County | $410,000 | $480,854 | 965 | 47 | 98.3% | -36.6% | -35.6% | 115.9% |
| Alameda | $648,500 | $656,668 | 30 | 29 | 98.0% | -9.3% | -6.3% | 30.4% |
| Albany | $637,500 | $624,188 | 8 | 26 | 98.5% | -20.2% | -20.6% | 100.0% |
| Berkeley | $715,750 | $786,849 | 52 | 33 | 98.9% | 8.0% | 0.2% | 30.0% |
| Castro Valley | $567,000 | $578,981 | 30 | 70 | 97.6% | -3.1% | -2.0% | 57.9% |
| Dublin | $579,000 | $605,246 | 33 | 52 | 97.0% | -17.0% | -18.5% | 106.3% |
| Fremont | $570,000 | $619,154 | 95 | 43 | 97.6% | -25.2% | -25.4% | 48.4% |
| Hayward | $295,000 | $347,116 | 147 | 46 | 99.7% | -37.2% | -26.6% | 406.9% |
| Livermore | $418,000 | $467,078 | 79 | 42 | 97.7% | -30.3% | -34.2% | 83.7% |
| Newark | $427,950 | $436,180 | 38 | 54 | 99.7% | -35.9% | -35.2% | 123.5% |
| Oakland | $214,000 | $339,856 | 242 | 53 | 99.0% | -63.2% | -49.2% | 96.7% |
| Piedmont | $1,100,000 | $1,251,429 | 7 | 15 | 95.8% | -20.9% | -49.8% | -30.0% |
| Pleasanton | $810,000 | $933,313 | 48 | 63 | 96.3% | -1.2% | 0.3% | 45.5% |
| San Leandro | $365,000 | $367,938 | 87 | 45 | 98.8% | -21.5% | -23.8% | 234.6% |
| San Lorenzo | $325,000 | $332,331 | 31 | 43 | 100.5% | -27.8% | -27.9% | 244.4% |
| Union City | $505,000 | $523,379 | 37 | 43 | 99.2% | -32.7% | -29.9% | 184.6% |
| October Sales Statistics | ||||||||
| (Condos/Town Homes) | ||||||||
| Prices | Unit | Change from last year | ||||||
| Median | Average | Sales | DOM | SP/LP | Median | Average | Sales | |
| County | $298,000 | $324,819 | 247 | 56 | 97.9% | -32.3% | -30.6% | 91.5% |
| Alameda | $436,000 | $437,786 | 14 | 75 | 97.4% | -18.1% | -12.7% | 75.0% |
| Albany | $458,000 | $458,000 | 2 | 58 | 92.1% | 24.6% | 28.1% | -33.3% |
| Berkeley | $507,000 | $485,667 | 3 | 38 | 104.1% | 2.4% | -5.8% | -40.0% |
| Castro Valley | $377,900 | $418,980 | 5 | 70 | 96.7% | -6.1% | -1.8% | -16.7% |
| Dublin | $408,500 | $385,313 | 16 | 65 | 98.3% | -22.0% | -30.9% | 60.0% |
| Emeryville | $270,000 | $320,100 | 5 | 64 | 94.8% | -32.3% | -32.1% | -37.5% |
| Fremont | $331,000 | $364,311 | 47 | 45 | 98.7% | -31.0% | -27.1% | 67.9% |
| Hayward | $223,800 | $233,847 | 42 | 48 | 98.9% | -37.0% | -37.5% | 425.0% |
| Livermore | $220,000 | $235,000 | 9 | 42 | 100.1% | -44.4% | -41.4% | 50.0% |
| Newark | $258,000 | $268,275 | 12 | 50 | 98.7% | -32.1% | -35.6% | 300.0% |
| Oakland | $330,000 | $371,664 | 47 | 70 | 96.7% | -21.5% | -17.7% | 27.0% |
| Pleasanton | $339,000 | $335,111 | 9 | 53 | 98.0% | -15.8% | -25.2% | 28.6% |
| San Leandro | $257,000 | $266,350 | 10 | 62 | 98.0% | -14.2% | -11.1% | 900.0% |
| Union City | $233,000 | $256,057 | 23 | 47 | 98.5% | -39.8% | -36.0% | 228.6% |
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