| Trends at a Glance | |||
| (Single-family Homes) | |||
| Nov 08 | Oct 08 | Nov 07 | |
| Median Price: | $385,000 | $410,000 | $650,000 |
| Average Price: | $444,441 | $480,854 | $743,262 |
| Home Sales: | 691 | 965 | 454 |
| Sale/List Price Ratio: | 97.9% | 98.3% | 97.5% |
| Days on Market: | 50 | 47 | 43 |
Sales of single-family, re-sale homes rose 52.2% year-over-year in November. This is the fifth month in a row homes sales have been higher than the year before. Year-to-date, home sales are up 9.6%.
The median price for homes fell 6.1% from October, a drop of 40.8% compared to November 2007. The average price was off 7.6% month-over-month, and down 40.2% 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 69% of all sales last month.
Condo sales dropped 32.4% from October, but were up 54.6% year-over-year. The median price for condos fell 1.8% compared to October, and was off 28.5% year-over-year.
The sales price to list price ratio, or the price paid for a home compared to the asking price, fell 0.4 of a point to 97.9%. The ratio for condos was flat at 97.9%.
Days on market for homes rose three days to 50 days. Days on market for condos fell twelve to 44 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.
| November Sales Statistics | ||||||||
| (Single-family Homes) | ||||||||
| Prices | Unit | Change from last year | ||||||
| Median | Average | Sales | DOM | SP/LP | Median | Average | Sales | |
| County | $385,000 | $444,441 | 691 | 50 | 97.9% | -40.8% | -40.2% | 52.2% |
| Alameda | $649,500 | $679,237 | 22 | 72 | 98.0% | -3.0% | -6.5% | -8.3% |
| Albany | $688,000 | $607,571 | 7 | 17 | 102.2% | 36.2% | 9.1% | -30.0% |
| Berkeley | $753,750 | $809,700 | 24 | 31 | 101.6% | -5.8% | -7.8% | -48.9% |
| Castro Valley | $462,500 | $521,126 | 26 | 42 | 95.9% | -25.4% | -16.8% | 52.9% |
| Dublin | $615,000 | $659,050 | 14 | 36 | 97.9% | -6.8% | -5.0% | -33.3% |
| Fremont | $468,500 | $558,824 | 68 | 55 | 96.6% | -39.5% | -31.5% | -8.1% |
| Hayward | $285,000 | $327,788 | 113 | 42 | 99.7% | -41.2% | -36.9% | 213.9% |
| Livermore | $410,000 | $468,249 | 61 | 60 | 97.2% | -25.5% | -28.9% | 110.3% |
| Newark | $390,000 | $420,467 | 15 | 34 | 99.3% | -28.6% | -27.2% | 114.3% |
| Oakland | $202,000 | $338,644 | 199 | 52 | 97.4% | -65.7% | -50.1% | 68.6% |
| Piedmont | $1,091,702 | $999,632 | 4 | 37 | 89.4% | -28.6% | -35.6% | -60.0% |
| Pleasanton | $685,000 | $837,667 | 27 | 52 | 95.5% | -18.3% | -23.2% | -18.2% |
| San Leandro | $350,000 | $367,038 | 52 | 60 | 98.3% | -25.0% | -25.1% | 116.7% |
| San Lorenzo | $332,400 | $327,264 | 28 | 56 | 99.0% | -19.6% | -21.9% | 250.0% |
| Union City | $438,500 | $436,723 | 31 | 42 | 101.9% | -25.7% | -32.5% | 40.9% |
| November Sales Statistics | ||||||||
| (Condos/Town Homes) | ||||||||
| Prices | Unit | Change from last year | ||||||
| Median | Average | Sales | DOM | SP/LP | Median | Average | Sales | |
| County | $292,706 | $317,770 | 167 | 44 | 97.9% | -28.5% | -27.8% | 54.6% |
| Alameda | $439,500 | $425,667 | 6 | 25 | 102.0% | 5.9% | -19.5% | -60.0% |
| Albany | $329,000 | $329,667 | 3 | 36 | 95.9% | -20.9% | -20.8% | 200.0% |
| Berkeley | $526,850 | $523,170 | 5 | 46 | 95.3% | 27.0% | 29.4% | 66.7% |
| Castro Valley | $365,000 | $333,667 | 3 | 48 | 94.0% | -10.8% | -18.4% | 200.0% |
| Dublin | $387,500 | $395,625 | 12 | 53 | 98.8% | -20.5% | -17.7% | 100.0% |
| Emeryville | $345,000 | $318,942 | 5 | 16 | 100.6% | -12.9% | -23.3% | 25.0% |
| Fremont | $310,853 | $334,041 | 28 | 58 | 98.4% | -27.5% | -23.5% | 16.7% |
| Hayward | $209,000 | $209,745 | 32 | 54 | 100.1% | -34.9% | -39.5% | 255.6% |
| Livermore | $337,500 | $318,744 | 8 | 27 | 101.0% | -16.9% | -22.7% | -20.0% |
| Newark | $280,000 | $292,600 | 5 | 35 | 99.7% | -27.3% | -23.6% | 66.7% |
| Oakland | $325,000 | $360,594 | 31 | 44 | 94.7% | -13.3% | -15.8% | 6.9% |
| Pleasanton | $453,000 | $438,725 | 8 | 26 | 97.6% | -13.1% | -15.8% | 300.0% |
| San Leandro | $266,000 | $257,500 | 7 | 13 | 98.6% | -20.2% | -27.3% | -12.5% |
| Union City | $228,950 | $214,064 | 14 | 47 | 99.4% | -45.9% | -52.3% | 133.3% |
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