Statistical Tables | | Getting Your Home Ready to Sell

Trends at a Glance
(Single-family Homes)
  Jan 18 Dec 17 Jan 17
Median Price: $840,000 $860,000 $750,000
Average Price: $914,713 $958,069 $834,911
Home Sales: 472 788 519
SP/LP Ratio: 105.8% 105.9% 102.5%
Days on Market: 26 23 34
(Condos/Townhomes)
  Jan 18 Dec 17 Jan 17
Median Price: $585,000 $577,500 $515,500
Average Price: $620,397 $603,206 $536,532
Condo Sales: 129 234 172
SP/LP Ratio: 104.4% 104.4% 102.2%
Days on Market: 22 21 30

Prices Continue Rising to Start Year

The average price for single-family, re-sale homes in Alameda County started the year with a 9.6% gain year-over-year.

The median price jumped 10.0% year-over-year. The median price has been higher than the year before every month since January 2012.

The median price for condos rose 13.5%. The average price for condos was up 15.6% over last January.

Multiple offers continue to be the norm. The sales price to list price ratio, or what buyers are paying over what sellers are asking, remains in triple digits: 105.8% for homes and 104.4% for condos.

The ratio has been over 100% since May 2012 for both homes and condos.

Home sales were down 9.1% year-over-year.

Condo sales were down 25.0% from last January.

Homes are selling quickly, taking twenty-six days from being listed to going under contract. Condos are taking twenty-two days. 

Momentum Statistics

Sales momentum…
for homes dropped 0.8 of a point to +6.1.

Pricing momentum…
for single-family homes rose 0.3 of a point to +8.6.

We Calculate…
sales momentum by using a 12-month moving average to eliminate seasonality. By comparing this year's 12-month moving average to last year's, we get a percentage showing market momentum.

In the chart below…

the blue area shows momentum for home sales while the red line shows momentum for pending sales of single-family, re-sale homes. The purple line shows momentum for the median price.

This is an extraordinarily tough market for buyers. It's important to be calm and realistic. If you don't know what to do or where to begin, give me a call and let's discuss your situation and your options.

 

Alameda County Days on Market

Alameda County Days on Market

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.

Monthly Statistics

Complete monthly sales statistics for the Alameda County are below. Monthly graphs are available for each city in the county.

January Sales Statistics
(Single-family Homes)
  Prices Unit     Change from last year Change from last month
Area Median Average Sales DOM SP/LP Median Average Sales Median Average Sales
County $840,000 $914,713 472 26 105.8% 12.0% 9.6% -9.1% -2.3% -4.5% -40.1%
Alameda $910,000 $1,009,618 16 27 109.0% -5.5% 4.4% 0.0% -9.2% -3.8% -50.0%
Albany $1,405,000 $1,405,000 2 18 113.0% 49.0% 51.0% -66.7% 17.1% 15.8% -60.0%
Berkeley $1,262,500 $1,338,837 18 24 111.2% 3.1% -7.6% 5.9% 8.8% -1.7% -57.1%
Castro Valley $798,500 $832,278 18 11 103.8% 2.9% 7.2% -35.7% -5.8% -5.5% -47.1%
Dublin $1,005,000 $1,076,094 16 9 102.6% -12.6% -4.6% -23.8% 0.5% 2.8% -36.0%
Fremont $1,195,000 $1,259,660 52 17 106.9% 27.1% 18.6% -14.8% 2.8% 3.7% -46.4%
Hayward $731,750 $796,857 62 31 102.8% 25.6% 28.7% -3.1% 9.5% 13.4% -41.5%
Livermore $773,500 $842,401 46 15 101.4% 5.8% 0.3% -14.8% -2.6% -6.4% -37.8%
Newark $915,000 $926,265 34 14 105.6% 14.4% 16.0% 126.7% -1.0% -2.5% 6.3%
Oakland $667,750 $749,457 116 42 110.0% 10.3% 4.8% -17.7% -6.0% -7.7% -40.8%
Piedmont $2,300,000 $2,200,000 3 25 103.5% 54.6% 47.9% 50.0% -10.5% -13.7% -62.5%
Pleasanton $1,167,500 $1,208,455 24 26 101.1% 12.3% 2.4% -17.2% 6.1% -7.2% -46.7%
San Leandro $670,000 $659,166 32 18 106.4% 24.5% 13.8% 3.2% 1.2% -3.9% -8.6%
San Lorenzo $672,500 $666,214 14 30 103.1% 26.3% 22.4% 16.7% 8.5% 2.4% -12.5%
Union City $920,000 $966,947 19 20 102.6% 18.9% 28.2% 0.0% 1.1% 0.8% -34.5%

 

January Sales Statistics
(Condos/Town Homes)
  Prices Unit     Change from last year Change from last month
  Median Average Sales DOM SP/LP Median Average Sales Median Average Sales
County $585,000 $620,397 129 22 104.4% 13.5% 15.6% -25.0% 2.8% 1.3% -44.9%
Alameda $706,000 $651,888 9 20 101.8% 3.1% -4.0% 12.5% 11.2% 37.6% -35.7%
Albany $560,000 $560,000 1 8 97.4% 11.4% 11.4% 0.0% 0.9% -8.2% -66.7%
Berkeley $539,000 $539,000 1 116 98.0% -10.9% -17.7% -66.7% -22.9% -20.5% -80.0%
Castro Valley $433,000 $606,333 3 25 104.8% -5.5% 16.1% 0.0% 5.9% -24.0% 0.0%
Dublin $700,000 $682,400 11 20 102.9% 25.7% 19.6% -8.3% 3.4% 8.9% -31.3%
Emeryville $560,000 $631,667 3 20 107.8% 12.0% 16.7% -25.0% 11.3% 7.7% -75.0%
Fremont $700,000 $743,417 23 15 104.3% 25.0% 22.9% -14.8% 11.8% 11.1% -46.5%
Hayward $455,000 $480,357 21 21 104.4% 9.6% 10.2% -22.2% 0.3% 2.1% -4.5%
Livermore $607,500 $579,250 6 40 101.2% 16.8% 15.8% -14.3% -2.9% -5.1% -64.7%
Newark $617,500 $652,500 4 27 106.4% 6.5% 7.3% -69.2% 18.9% 20.5% 0.0%
Oakland $575,000 $635,845 29 22 106.4% 10.5% 17.2% -34.1% 1.1% -4.1% -48.2%
Pleasanton $600,000 $622,143 7 20 104.1% -5.5% 4.3% 40.0% 2.8% 9.2% -41.7%
San Leandro $320,500 $390,500 5 14 102.4% -15.7% 4.6% -16.7% -24.6% -38.4% -37.5%
Union City $600,000 $623,333 6 22 105.6% 57.9% 66.9% 0.0% 20.3% 15.3% -25.0%

GETTING YOUR HOME READY TO SELL

I know, I know. You’re thinking, “I live in Silicon Valley where everything is selling with multiple offers! Why bother fixing anything?”

Well, not quite. Well-kept homes properly priced ARE selling quickly with multiple offers. Yet, there are still homes that have been on the market for over thirty days. P.S. We are averaging twenty-one days on market.

Homes that have been on the market over thirty days are either over-priced and/or not spiffed up.

Well-maintained homes priced properly will receive multiple offers in this market. Also, a clean, well-kept home will sell for more money than one that is run down.

If you are ready to sell your home, we have some tips for you.

First, make sure people will be enticed into your home when they first look at it from their car. This is called curb appeal. The next time you drive up to your home, look at it as if you were thinking of buying it. What could you do to make it more appealing from the curb? Is the yard neat? The grass green? The bushes trimmed? The kid’s toys put away? Is the front door clean? The garage door? A little paint and elbow grease here ensures more people will visit your home.

Next, you know all those little niggling things you’ve been meaning to fix? The squeaky door. The door knob that doesn’t work properly. The closet door that slides roughly. Fix them!

Go for the spacious look. You are going to be moving, that’s why the house is on the market. Start packing. Pack everything but the essentials, then put them in storage. This goes for the kitchen as well. Take all those appliances and containers off the counter tops and pack them away.

Spruce up your back yard. The back yard has evolved into one of the most important rooms of the house. Buyers will be attracted to back areas that have a nice deck or patio area with plenty of space for dining, grilling, and entertaining. And if you have a section of your yard that is child-friendly -- perhaps with a swing set, sandbox or play area -- play it up as much as possible.

Make your windows sparkle. Make sure your windows are nice and clean.

Keep your walls light. If you're thinking about touching up the paint on your walls before you put your home on the market, keep the colors neutral and light. A light yellow or beige will make the room feel cooler than darker hues, like brick red or dark taupe.

Let the light in. Open blinds and curtains so plenty of light illuminates the home's interior.

Keep the pool clean. If you have a pool or spa, make sure it's clean. If you have a fence, make sure locks and latches are working properly.

All this may seem like a lot of work, and it is, but it means a quicker sale with less hassle and more money in your pocket. Not to mention the pleasure you and your family will receive from living in a well-kept home.

To set the proper price, a seller must be aware of current market conditions, including what has sold recently in your neighborhood, and what is your competition.

Your local REALTOR®, that’s me, can assist you with this. Call me.