| Trends at a Glance | |||
| (Single-family Homes) | |||
| May 14 | Apr 14 | May 13 | |
| Median Price: | $699,950 | $670,000 | $585,000 |
| Average Price: | $795,778 | $788,395 | $664,843 |
| Home Sales: | 905 | 794 | 1,021 |
| Sale/List Price Ratio: | 106.7% | 106.9% | 107.0% |
| Days on Market: | 19 | 21 | 21 |
After batting their heads against the wall for the past year, buyers are increasingly dropping out of the market.
While multiple offers are still quite common, the number of offers on any property have decreased.
Although closed sales of single-family homes were up from April, they were still below year ago levels.
It's tempting to say we're heading into a correction, but I believe we will experience a flattening of the market for the next six months.
Sales of single-family, re-sale homes were off 11.4% year-over-year.
The median price for homes gained 19.6% year-over-year.
Average days on market last month was 19. The average for the past fourteen years is 34.
The sale price to list price ratio has been over 100% for the past twenty-five months: 106.7%.
| Alameda County Price Differences | |||||
| from January 2013 & Peak & Trough | |||||
| Homes: detached | |||||
| YTD | Peak % | Trough % | Peak | Trough | |
| 3-month | 42% | -3% | 160% | Jul-07 | Mar-09 |
| 12-month | 43% | -3% | 112% | Oct-07 | Sep-09 |
| Homes: attached | |||||
| 3-month | 46% | -3% | 131% | Jun-07 | Feb-12 |
| 12-month | 60% | -7% | 113% | Jan-06 | Feb-12 |
for single-family, re-sale homes in Alameda County fell 0.2 of a point to -15.4. (See chart below)
for single-family, re-sale homes fell 0.9 points to +20.9.
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.
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.
The median price for condos was up 21.1% year-over-year. The median price has been up by double-digits twenty-eight months in a row, with twenty-five of those months showing increases over 20%.
Condo sales were up last month, gaining 4.9% year-over-year.
The sale price to list price ratio stayed over 100% for the twenty-fifth month in a row: 103.7%.
Average days on market last month was 22. The average for the past fourteen years is 36.
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.
The local market has split into three parts: the lower-end, under about $500,000, where multiple offers are common; the mid-range, between $500,000 and $1MM where the market is more balanced; and the upper end, over $1MM.
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.
In May, notices of default, the first step in the foreclosure process, fell 18.4% from April. Year-over-year, notices were down 51.1%, according to PropertyRadar.com.
Notices of sale, which set the date and time of an auction, and serve as the homeowner's final notice before sale, were down 34.5% year-over-year.
After filing a Notice of Trustee Sale, there are only three possible outcomes. First, the sale can be cancelled for reasons that include a successful loan modification or short sale, a filing error, or a legal requirement to re-file the notice after extended postponements, such as bankruptcy.
Alternatively, if the property is taken to sale, the bank places the opening bid. If a third party, typically an investor, bids more than the bank's opening bid, the property will be sold to the third party; if not, it will go back to the bank.
Year-over-year, cancellations were down 65.5%. Compared to April, cancellations fell 25.2%. There were 92 cancellations in May.
Property that went back to banks fell 3.2% from April, but they were up 57.9% year-over-year. Thirty properties went back to the banks last month.
The total number of properties that have had a notice of default filed increased by 37.2% month-over-month. Year-over-year they were down 1.3%.
The total number of properties scheduled for sale decreased by 4.3% from April, and they were down 47% year-over-year.
The number of properties owned by the banks were flat month-over-month. The banks own about 1,187 properties in Alameda County, down 22.1% year-over-year.
For further details and a city-by-city breakdown of foreclosure statistics, go to https://www.propertyradar.com.
Complete monthly sales statistics for the Alameda County are below. Monthly graphs are available for each city in the county.
| May 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 | $699,950 | $795,778 | 905 | 19 | 106.7% | 19.6% | 19.7% | -11.4% | 4.5% | 0.9% | 14.0% |
| Alameda | $758,000 | $911,288 | 28 | 24 | 103.9% | 4.8% | 25.7% | -30.0% | -1.2% | 15.7% | 16.7% |
| Albany | $875,000 | $889,429 | 7 | 14 | 116.3% | 29.6% | 31.7% | -22.2% | 12.8% | 10.4% | -30.0% |
| Berkeley | $875,000 | $1,066,908 | 47 | 31 | 101.9% | 0.0% | 13.2% | 9.3% | -17.5% | -18.7% | 4.4% |
| Castro Valley | $610,000 | $648,206 | 45 | 15 | 99.7% | 14.0% | 12.7% | 0.0% | -4.3% | -0.2% | 25.0% |
| Dublin | $797,000 | $853,603 | 45 | 16 | 101.6% | 2.0% | 5.9% | -13.5% | -8.7% | -6.8% | 12.5% |
| Fremont | $845,000 | $943,362 | 141 | 13 | 101.0% | 16.4% | 10.0% | -0.7% | 3.8% | 5.1% | 19.5% |
| Hayward | $465,000 | $485,664 | 65 | 24 | 103.2% | 16.3% | 12.3% | -8.5% | -0.7% | -6.5% | -14.5% |
| Livermore | $633,500 | $716,088 | 86 | 17 | 101.3% | 15.2% | 20.6% | -18.1% | 3.0% | -6.1% | 11.7% |
| Newark | $580,000 | $586,070 | 30 | 16 | 101.7% | 13.7% | 18.3% | 3.4% | -3.5% | -5.4% | 25.0% |
| Oakland | $550,000 | $655,556 | 235 | 22 | 104.3% | 18.9% | 16.9% | -6.7% | -1.8% | 0.5% | 16.9% |
| Piedmont | $1,565,000 | $1,821,330 | 27 | 14 | 109.9% | 6.1% | 19.9% | 58.8% | -20.9% | -14.4% | 68.8% |
| Pleasanton | $960,500 | $1,167,640 | 68 | 18 | 95.5% | 8.2% | 8.9% | 6.3% | 7.3% | 10.6% | 36.0% |
| San Leandro | $466,000 | $509,941 | 46 | 18 | 104.6% | 12.4% | 15.4% | -14.8% | -0.3% | -0.2% | 27.8% |
| San Lorenzo | $460,000 | $456,286 | 14 | 20 | 103.7% | 26.7% | 21.9% | -44.0% | 3.4% | 5.4% | -26.3% |
| Union City | $662,500 | $668,700 | 20 | 16 | 102.7% | 16.2% | 15.9% | -31.0% | 2.7% | 0.8% | -4.8% |
| May 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 | $431,000 | $457,108 | 297 | 22 | 103.7% | 21.1% | 21.7% | 4.9% | -0.7% | -1.3% | 16.0% |
| Alameda | $530,500 | $510,306 | 16 | 20 | 105.7% | 56.0% | 32.8% | 0.0% | -15.7% | -0.4% | 60.0% |
| Albany | $412,000 | $420,210 | 9 | 32 | 100.9% | 26.8% | 23.2% | 50.0% | 13.0% | 9.9% | 80.0% |
| Berkeley | $440,000 | $434,000 | 8 | 20 | 105.8% | -23.0% | -19.6% | -11.1% | -27.4% | -25.4% | 14.3% |
| Castro Valley | $381,500 | $440,750 | 4 | 17 | 101.4% | 15.6% | 12.9% | -20.0% | -18.8% | -29.7% | 100.0% |
| Dublin | $475,000 | $519,722 | 25 | 28 | 101.1% | 9.2% | 19.7% | -3.8% | -3.1% | -6.9% | 8.7% |
| Emeryville | $435,000 | $416,275 | 16 | 24 | 102.0% | 39.2% | 16.5% | 0.0% | -10.8% | -13.9% | 166.7% |
| Fremont | $483,000 | $516,958 | 61 | 19 | 104.1% | 12.3% | 16.3% | 15.1% | -0.1% | -8.5% | 32.6% |
| Hayward | $335,000 | $357,133 | 21 | 27 | 104.9% | 15.1% | 20.3% | -38.2% | 0.1% | -6.9% | -19.2% |
| Livermore | $405,000 | $388,727 | 11 | 32 | 101.8% | -6.7% | -11.5% | -21.4% | -9.3% | -5.6% | -47.6% |
| Newark | $390,000 | $398,636 | 11 | 10 | 104.9% | 5.8% | 6.0% | 83.3% | 25.0% | 21.9% | 120.0% |
| Oakland | $413,000 | $453,601 | 77 | 25 | 104.0% | 32.4% | 35.7% | 35.1% | 0.5% | -0.5% | 0.0% |
| Pleasanton | $488,000 | $511,200 | 15 | 11 | 103.3% | 17.9% | 17.4% | -6.3% | 11.4% | 5.6% | 15.4% |
| San Leandro | $315,000 | $338,571 | 7 | 15 | 106.1% | 51.4% | 66.7% | -50.0% | 39.6% | 29.9% | 600.0% |
| Union City | $400,000 | $406,577 | 13 | 18 | 102.9% | 40.4% | 32.7% | 44.4% | 14.5% | 12.7% | 0.0% |
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