Statistical Tables | | Good Times And Complaints

Trends at a Glance
(Single-family Homes)
  Apr 19 Mar 19 Apr 18
Median Price: $940,000 $912,000 $966,000
Average Price: $1,058,213 $1,033,771 #######
Home Sales: 909 751 904
SP/LP Ratio: 105.8% 104.9% 110.2%
Days on Market: 22 26 16
(Condos/Townhomes)
  Apr 19 Mar 19 Apr 18
Median Price: $625,000 $620,000 $667,000
Average Price: $642,871 $661,073 $670,858
Condo Sales: 294 240 282
SP/LP Ratio: 102.6% 102.4% 109.2%
Days on Market: 28 29 14

Sales Up, Prices Mixed

Sales prices for single-family, re-sale homes rose from the month before for the third month in a row. The average sales price gained 2.4% from March. Year-over-year, it fell 2.2%. The median price fell 2.7%, year-over-year. It was up 3.1% from March.

The average sales prices for condos was up 0.8% from March. It was down 4.2% year-over-year. The median sales price was down 2.8% from March and down 6.3% year-over-year.

The sales price to list price ratio remains in triple digits: 105.8% for homes and 102.6% for condos.

Home sales were up 0.6% year-over-year. Sales were up 21% from March.

Condo sales were up 4.3% from last year, and, they were up 22.5% from March.

Homes are selling in twenty-two days from being listed to going under contract. Condos are taking twenty-eight days.

Momentum Statistics

Sales momentum…
for single-family homes fell 0.9 of a point to –3.7.

Pricing momentum…
for single-family homes was down 1.1 points to +4.6.

Our momentum statistics are based on 12-month moving averages to eliminate monthly and seasonal variations.

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.

If you’re looking to sell, call me for a comprehensive Comparative Market Analysis.

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.

April 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 $940,000 $1,058,213 909 22 105.8% -2.7% -2.2% 0.6% 3.1% 2.4% 21.0%
Alameda $1,130,000 $1,205,053 30 17 105.0% -3.8% -1.7% 11.1% 6.6% 8.4% 3.4%
Albany $1,160,000 $1,211,857 7 31 120.7% -0.8% 2.6% -12.5% -13.1% -9.2% 250.0%
Berkeley $1,310,000 $1,355,793 46 15 102.8% -7.1% -4.6% -2.1% 1.9% 5.4% -2.1%
Castro Valley $921,500 $964,674 38 24 99.6% -0.6% 2.5% 35.7% 12.2% 10.0% 0.0%
Dublin $1,190,000 $1,179,741 37 21 100.3% 13.3% 7.0% -9.8% 20.3% 11.4% 27.6%
Fremont $1,221,500 $1,308,124 112 19 99.7% -3.1% -8.2% -4.3% 6.2% 1.0% 30.2%
Hayward $712,800 $773,535 95 27 100.1% 2.1% 1.3% 14.5% -2.0% 0.0% 8.0%
Livermore $800,000 $891,908 86 24 99.3% -1.2% -6.1% -16.5% 0.6% -0.5% 32.3%
Newark $927,500 $960,514 34 31 95.0% -9.5% -9.3% 9.7% -0.6% 0.3% 36.0%
Oakland $830,000 $970,165 228 24 108.5% 0.0% 5.4% 2.2% 2.7% 4.3% 14.6%
Piedmont $2,335,000 $2,501,400 15 17 104.5% -10.7% -16.1% 15.4% -9.1% -7.0% 0.0%
Pleasanton $1,205,000 $1,434,599 67 18 97.9% -1.2% -3.2% 3.1% -7.3% 1.7% 36.7%
San Leandro $719,000 $730,750 52 22 100.0% 8.9% 6.5% -11.9% 5.7% 5.0% 67.7%
San Lorenzo $657,000 $657,175 20 18 100.0% -2.7% -3.5% 11.1% -0.5% -0.3% 53.8%
Union City $905,000 $936,912 38 14 98.9% -15.0% -12.3% -7.3% 3.4% 4.4% 15.2%

 

April 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 $625,000 $642,871 294 28 102.6% -6.3% -4.2% 4.3% -2.8% 0.8% 22.5%
Alameda $675,000 $699,995 21 21 105.7% -16.8% -5.2% 61.5% -5.9% -7.0% 16.7%
Albany $521,500 $529,500 4 14 110.5% -22.2% -23.3% 0.0% -10.9% -12.3% 100.0%
Berkeley $750,000 $811,857 7 30 112.9% -3.7% 4.0% 0.0% 11.8% -0.1% -22.2%
Castro Valley $657,500 $703,250 8 15 100.8% 25.8% 34.6% 300.0% 3.1% 4.0% 0.0%
Dublin $685,000 $681,314 37 41 99.6% -8.7% -7.7% 12.1% 0.1% -2.3% 131.3%
Emeryville $600,000 $675,346 13 22 104.3% 1.3% 6.2% -18.8% 26.7% 10.3% 18.2%
Fremont $580,000 $615,753 37 18 101.1% -25.3% -20.4% 2.8% -10.6% -14.5% -19.6%
Hayward $505,000 $519,442 26 40 101.2% 6.2% 3.6% -13.3% -16.2% -15.5% 30.0%
Livermore $635,000 $621,774 27 41 98.9% 2.4% 4.9% 42.1% 3.3% 4.5% 50.0%
Newark $649,000 $694,546 14 25 98.7% -3.9% -4.9% 27.3% -1.7% -7.2% 75.0%
Oakland $655,000 $664,162 55 23 108.1% -2.2% -4.6% -22.5% -3.1% 4.4% -8.3%
Pleasanton $650,000 $679,975 20 28 100.0% -3.6% 0.5% 25.0% 9.9% 32.7% 300.0%
San Leandro $467,500 $481,929 14 26 100.5% 7.0% 8.4% 7.7% 3.5% -8.3% 55.6%
Union City $707,500 $656,380 10 23 100.3% 4.4% -4.3% -9.1% -2.0% -0.4% 42.9%

Good Times And Complaints

May 3, 2019 -- Although there are plenty of trouble on which one could focus, overall, the U.S. economy isn't really one of them. The pace of economic growth has moved higher of late, incomes are rising, the labor market is solid and financial conditions remain favorable. Interest rates remain far closer to historic lows than to anything approximating historical norms, but yet, there always seems to be someone who isn't quite happy.

Still, expressions of concern, worry or outright unhappiness persist. Take, for example, the bleating of President Trump to the Federal Reserve, pressing them not just to cut short-term rates, but to hack a full percentage point off of current levels and re-start Large-Scale Asset Purchases (LSAPs), commonly called Quantitative Easing (QE). To what end? Years of low interest rates --including the present day -- have helped create nearly the longest period of economic growth in U.S. history (coming soon now) and unemployment at 50-odd year lows. By what measure are lower rates the answer at this time? What sort of beneficial message would be sent to markets and consumers by moving rates back toward emergency levels?

Lower rates won't necessarily help anyone all that much. We know that low rates aren't really what's holding back a more robust housing market, which is suffering more from a lack of product to buy and high prices than difficult or expensive financing conditions. Low rates will tend to bring more demand into a market that has little supply, pressing prices higher and depleting inventory further, and that would actually tend to curtail growth in sales, at least for existing homes. After a lackluster existing home sales report for March last week (representative of demand in late January and February), the National Association of Realtors reported a 3.8% increase in their Pending Home Sales Index for the period, so falling mortgage rates in March did spur some folks into the market in early spring, who have likely now eaten up much of the minor increase in available inventory we've seen of late, and will probably also cause a slight re-firming of price increases, which have only recently come back to earth after years of far outstripping income growth.

Construction spending was a little soft in March, falling by 0.9% compared to February. We already new that spending for residential construction was in a soft pattern, and this continue in March with a 1.8% decline, a third such fall, making it 6 of the last 7 months of slipping residential spending. Sales of new homes have been trending higher, and inventories are being trimmed, so it's likely that we'll see some improvement in residential outlays before long. Spending on commercial projects manages a nice 0.5% increase, making it four gains in a row, but it looks as though the short-term spate of public-works spending is over, as those projects saw 1.3% fewer dollar for the month.

Despite a little up and down wobble this week, interest rates and mortgage rates are not going anywhere fast. We did see an expected fall in mortgage rates this week, perhaps just a little more than expected, but that's probably not going to be repeated next week. Given that underlying interest rates have been largely steady, this week's decline may have been due to a continuing slackening in demand for mortgage money, as the Mortgage Bankers Association reported fourth consecutive weekly decline in new applications for mortgage, with most of the falloff coming from refinancing activity.