Statistical Tables | | Scam Alert!

Trends at a Glance
(Single-family Homes)
  Oct 17 Sep 17 Oct 16
Median Price: $910,000 $870,000 $776,500
Average Price: $1,014,741 $950,305 $875,964
Home Sales: 837 723 866
SP/LP Ratio: 107.1% 106.7% 105.2%
Days on Market: 22 22 28
(Condos/Townhomes)
  Oct 17 Sep 17 Oct 16
Median Price: $615,000 $600,000 $530,000
Average Price: $625,472 $622,859 $551,177
Condo Sales: 265 257 264
SP/LP Ratio: 106.2% 104.4% 102.9%
Days on Market: 19 21 27

Average Price of Homes Sets New Record

The average price for single-family, re-sale homes in Alameda County went over $1,000,000 for the first time ever in October.

It was up 15.8% over last October. That was the fifth month in a row of double-digit gains.

The median price jumped 17.2% year-over-year and is just shy of the record high of $925,000 reached in August. The median price has been higher than the year before every month since January 2012!

The median price for condos gained 16.0%, the fifth month of the past seven with double-digit gains.

The average price for condos was up 13.5% over last October.

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: 107.1% for homes and 106.2% for condos.

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

Home sales were down, again, off 3.3% year-over-year. Year-to-date, home sales are off 3.7%.

Condo sales were up 0.3% from last October. For the year, sales are down 2.8%.

October Sales Statistics

Sales momentum…
for homes was flat at –3.2.

Pricing momentum…
for single-family homes rose 0.6 of a point to +9.7.

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

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.

October 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 $910,000 $1,014,741 837 22 107.1% 17.2% 15.8% -3.3% 4.6% 6.8% 15.8%
Alameda $1,100,000 $1,123,000 38 17 108.1% 8.3% 11.7% 40.7% 0.5% 2.4% 40.7%
Albany $1,250,000 $1,275,625 8 16 106.5% 26.3% 16.5% -11.1% 14.0% 14.3% 0.0%
Berkeley $1,240,000 $1,364,935 63 18 113.9% 3.3% 1.0% 18.9% -0.5% -4.2% 50.0%
Castro Valley $844,000 $878,617 56 28 102.9% 6.6% 9.1% 60.0% 3.6% 4.2% 36.6%
Dublin $921,000 $1,026,482 41 19 100.7% -4.9% 4.1% -2.4% -0.8% 3.3% 17.1%
Fremont $1,086,000 $1,210,660 142 20 101.0% 18.0% 19.3% 10.9% 5.2% 10.4% 34.0%
Hayward $657,500 $700,800 102 24 101.9% 15.4% 15.8% 37.8% -3.7% -4.1% 4.1%
Livermore $797,500 $905,875 88 22 99.8% 13.9% 19.0% -9.3% 3.9% 7.7% 7.3%
Newark $782,500 $804,460 30 18 102.0% 9.2% 7.6% 0.0% -0.1% -6.4% 11.1%
Oakland $730,000 $820,886 226 25 110.8% 6.5% 6.7% 11.9% 5.4% 1.0% 21.5%
Piedmont $1,925,000 $2,183,667 15 15 0.0% -23.8% -33.5% 200.0% -24.9% -18.0% 150.0%
Pleasanton $1,112,500 $1,381,884 56 27 98.7% 9.7% 15.7% 3.7% -2.6% 10.5% 33.3%
San Leandro $650,000 $669,916 59 18 104.0% 7.7% 10.4% -13.2% 0.0% 1.3% 3.5%
San Lorenzo $630,000 $622,705 19 18 105.5% 8.3% 10.8% 18.8% 6.4% 6.8% 46.2%
Union City $876,000 $926,762 26 15 100.4% 10.4% 15.3% -13.3% 2.5% 5.1% -16.1%

 

October 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 $615,000 $625,472 265 19 106.2% 16.0% 13.5% 0.4% 0.4% 2.5% 3.1%
Alameda $687,500 $658,111 18 22 103.0% 0.1% 2.3% 50.0% -8.2% -11.9% 63.6%
Albany $577,000 $547,000 5 19 107.8% 23.2% 13.3% 25.0% 26.0% 32.9% 150.0%
Berkeley $786,500 $743,875 10 21 115.6% 3.5% 8.6% 100.0% -1.7% 17.8% 25.0%
Castro Valley $560,500 $617,250 4 18 100.9% 24.6% 20.3% -55.6% -0.2% -10.3% -42.9%
Dublin $680,000 $692,238 23 21 101.4% 13.8% 11.6% -17.9% 3.3% 1.5% -20.7%
Emeryville $550,000 $564,172 18 22 107.3% 17.5% 20.6% 38.5% -13.0% -24.0% 28.6%
Fremont $646,500 $683,619 32 13 106.5% 22.4% 13.0% -15.8% -0.2% 5.1% -34.7%
Hayward $467,500 $500,975 24 19 103.6% -4.4% 7.2% -20.0% -0.5% -10.1% -22.6%
Livermore $583,500 $559,034 18 22 102.1% 30.0% 20.7% 38.5% 1.4% 9.9% 38.5%
Newark $620,000 $601,535 14 15 106.2% 20.4% 9.5% 40.0% -12.5% -15.1% 7.7%
Oakland $620,000 $633,168 79 20 109.5% 8.1% 11.1% 16.2% 5.0% 11.7% 58.0%
Pleasanton $695,975 $683,225 18 11 102.4% 29.5% 17.8% 100.0% 7.6% 3.5% -10.0%
San Leandro $492,500 $476,375 8 13 100.9% 20.1% 13.0% -27.3% 11.0% 5.9% -27.3%
Union City $468,500 $492,000 6 26 104.5% -6.0% -3.0% -40.0% -2.9% -0.5% -64.7%

 

Scam Alert!

How home buyers are getting robbed of their down payments

A hot new scam targets home buyers: down payment wire fraud.

Hackers send bogus emails, telling buyers where to wire the down payment money. The stolen money disappears. The home buyer ends up with an empty bank account and a broken heart.

Hundreds of millions of dollars have been stolen this way. But you can avoid that fate by making one phone call. It’s that simple.

How the scam happens

Stacy Hennessey, a real-estate agent in Falls Church, Virginia, was targeted with this scam, but she didn’t fall for it. If you follow her example, you won’t get defrauded, either.

Hennessey was buying a house in Maryland. About a week before the scheduled closing, she received an email that appeared to be from her real-estate agent. The email told her that the instructions for wiring the down payment had changed, and it gave her an account number to which she should send $30,000.

Hennessey was suspicious for three reasons:

“They were asking me to wire an incorrect down payment amount, lower than it should have been,” she says. “Why would I wire a partial deposit?”

“And why would I be doing it now, several days before closing?” Usually, the down payment money is wired the day before closing.

The sender’s email address was almost, but not quite, her agent’s email address.

How to stop the scammers

Hennessey prevented crooks from stealing her $30,000 by making one call to her real-estate agent.

“I said, ‘Hey, did you send me this telling me to wire money?’ And they said, ‘No.’ And I said, ‘Your computer’s been hacked because they know that I’m a buyer, closing soon.’”

Had Hennessey followed the scammer’s instructions, she almost certainly would have lost the money. At the time, she didn’t even know whom she should have called if she had fallen for the scam.

To read the full story, go to this link: http://tinyurl.com/yc78fys8