Statistical Tables | Gradually, Over Time
| Trends at a Glance | |||
| (Single-family Homes) | |||
| Nov 24 | Oct 24 | Nov 23 | |
| Median Price: | $1,275,000 | $1,260,000 | $1,227,500 |
| Average Price: | $1,410,895 | $1,354,458 | $1,331,459 |
| Home Sales: | 612 | 771 | 556 |
| SP/LP Ratio: | 105.3% | 107.3% | 106.0% |
| Days on Market: | 28 | 24 | 23 |
| (Condos/Townhomes) | |||
| Nov 24 | Oct 24 | Nov 23 | |
| Median Price: | $765,000 | $718,000 | $711,944 |
| Average Price: | $802,939 | $763,253 | $750,200 |
| Condo Sales: | 167 | 225 | 148 |
| SP/LP Ratio: | 101.2% | 101.1% | 101.7% |
| Days on Market: | 40 | 37 | 31 |
Sales of single-family, re-sale homes rose 10.1% from last year. There were 612
homes sold in Alameda County last month. The average since 2000 is 921.
The average sales price for
single-family, re-sale homes rose
6%. It was up 4.2% from October.
The median sales price for
single-family, re-sale homes rose 3.9%.
It was up 1.2% from October.
The sales price to list price ratio fell from 107.3% to 105.3%.
Homes sold in twenty-eight days. This is the time from being listed to going
under contract.
The average sales price for condos was up 7% year-over-year. It was up 5.2% from
October. The median sales price was up 7.5% year-over-year and it was up 6.5%
month-over-month.
The sales price to list price ratio for condos rose from 101.1% to 101.2%.
Condo sales were up 12.8% from last year. There were 167 condos sold.
Condos sold on average in forty days.
Momentum Statistics
Sales momentum…
for
single-family homes rose 1 point to +9.1.
Pricing momentum…
for single-family homes was down 0.1 of a point to
+6.0.
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.
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.
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.
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 | Change from last month | ||||||||
| Area | Median | Average | Sales | DOM | SP/LP | Median | Average | Sales | Median | Average | Sales |
| County | $1,275,000 | $1,410,895 | 612 | 28 | 105.3% | 3.9% | 6.0% | 10.1% | 1.2% | 4.2% | -20.6% |
| Alameda | $1,380,000 | $1,370,363 | 35 | 45 | 113.5% | 6.6% | 0.9% | 75.0% | 2.6% | -3.3% | 75.0% |
| Albany | $1,280,000 | $1,299,691 | 13 | 45 | 118.7% | -14.1% | -14.8% | 160.0% | 5.3% | -8.6% | 44.4% |
| Berkeley | $1,587,500 | $1,702,641 | 60 | 44 | 123.8% | 11.8% | 4.0% | 36.4% | -0.8% | 0.0% | 30.4% |
| Castro Valley | $1,227,500 | $1,255,559 | 42 | 44 | 105.1% | 11.6% | 9.4% | 75.0% | 2.9% | 1.1% | 75.0% |
| Dublin | $1,875,000 | $1,953,127 | 23 | 42 | 103.7% | 13.6% | 12.3% | 43.8% | 17.2% | 20.8% | 53.3% |
| Fremont | $1,722,600 | $1,907,632 | 91 | 44 | 109.6% | 16.8% | 18.5% | 65.5% | -0.3% | 3.9% | 13.8% |
| Hayward | $1,000,500 | $1,049,974 | 58 | 44 | 106.0% | 11.8% | 1.3% | 18.4% | 4.3% | -1.2% | -10.8% |
| Livermore | $1,200,000 | $1,272,712 | 39 | 50 | 102.2% | 2.6% | -1.2% | -7.1% | -4.0% | -6.6% | -44.3% |
| Newark | $1,395,000 | $1,386,231 | 13 | 40 | 107.5% | 8.3% | 11.4% | -31.6% | 4.0% | -3.3% | -55.2% |
| Oakland | $870,000 | $1,011,222 | 173 | 71 | 112.3% | -17.1% | -5.7% | 13.1% | -2.2% | -0.3% | -18.0% |
| Piedmont | $2,900,000 | $3,538,462 | 13 | 37 | 110.6% | 21.0% | 25.9% | 30.0% | 25.8% | 50.5% | -18.8% |
| Pleasanton | $1,797,500 | $2,195,442 | 30 | 53 | 101.9% | 18.4% | 24.7% | 36.4% | 6.5% | 7.5% | -37.5% |
| San Leandro | $878,000 | $910,933 | 33 | 60 | 105.5% | 3.3% | 3.7% | 13.8% | -0.8% | -2.3% | -15.4% |
| San Lorenzo | $850,000 | $851,846 | 13 | 41 | 104.6% | 6.9% | 6.4% | 8.3% | 0.9% | -0.1% | -27.8% |
| Union City | $1,520,000 | $1,617,686 | 29 | 42 | 108.1% | 17.8% | 21.1% | 31.8% | 1.3% | 6.2% | 7.4% |
| November 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 | $765,000 | $802,939 | 167 | 40 | 101.2% | 7.5% | 7.0% | 12.8% | 5.2% | 6.5% | -25.8% |
| Alameda | $898,964 | $889,108 | 17 | 70 | 101.9% | -2.8% | 15.8% | 750.0% | 3.9% | -0.8% | 54.5% |
| Albany | $483,000 | $483,000 | 1 | 73 | 96.8% | -7.1% | -12.5% | -80.0% | -22.5% | -29.0% | -66.7% |
| Berkeley | $846,000 | $850,400 | 5 | 33 | 111.4% | -10.9% | 16.9% | 150.0% | -6.0% | 4.3% | -50.0% |
| Castro Valley | $1,300,000 | $1,171,000 | 3 | 61 | 102.9% | n/a | n/a | n/a | 9.6% | 20.9% | -25.0% |
| Dublin | $1,050,000 | $1,065,263 | 11 | 66 | 100.5% | 26.5% | 26.4% | 266.7% | 8.8% | 8.7% | -31.3% |
| Emeryville | $572,500 | $566,250 | 4 | 87 | 99.3% | 15.7% | 5.0% | -50.0% | 40.4% | 52.7% | -55.6% |
| Fremont | $920,000 | $874,588 | 29 | 55 | 100.5% | 23.1% | 3.7% | 866.7% | 3.2% | 26.5% | -3.3% |
| Hayward | $707,500 | $723,316 | 20 | 83 | 102.2% | 15.5% | 13.4% | 0.0% | -5.7% | -14.2% | -37.5% |
| Livermore | $860,000 | $798,733 | 15 | 60 | 98.8% | 1.1% | -14.7% | 114.3% | 5.5% | 12.4% | -11.8% |
| Newark | $1,025,000 | $971,429 | 7 | 38 | 105.0% | n/a | n/a | n/a | 6.9% | 19.2% | -56.3% |
| Oakland | $609,000 | $606,323 | 31 | 88 | 100.3% | 18.3% | 19.0% | 933.3% | 0.4% | 9.8% | -32.6% |
| Pleasanton | $1,107,000 | $1,010,833 | 12 | 45 | 101.0% | n/a | n/a | n/a | 21.4% | 27.2% | -29.4% |
| San Leandro | $475,000 | $455,400 | 5 | 91 | 97.1% | n/a | n/a | n/a | -9.2% | -5.5% | -16.7% |
| Union City | $715,000 | $704,525 | 7 | 73 | 100.4% | 32.4% | 17.4% | 250.0% | 7.8% | 7.5% | 0.0% |
November 27,
2024 -- It's getting to be
anyone's guess as to whether the Fed will cut rates for a third meeting in a row
when mid-December rolls around. On the pro-cut side, the so-called "real"
federal funds rate (nominal rate minus inflation) is still strongly positive, so
the Fed does have some space to trim rates again if it so desires. The problem
is that the Fed does not know where the neutral rate lies, so it does not have a
clear read on exactly how restrictive monetary policy actually is, and neutral
is a moving target.
On the anti-cut side comes a
fair bit of solid economic data that doesn't suggest that the economy is being
all that restricted by the current stance of monetary policy. Solid growth,
solid labor market conditions and inflation that remains solidly above target
all suggest that the Fed could just as easily stand pat in two weeks' time,
and/or change their messaging to dissuade investors of the notion that
normalizing policy will happen quickly.
In the minutes from the last
Fed meeting, these concerns were expressed. Three passages detail these issues:
"[...] participants anticipated that if the data came in about as expected, with
inflation continuing to move down sustainably to 2 percent and the economy
remaining near maximum employment, it would likely be appropriate to move
gradually toward a more neutral stance of policy over time." However, "Many
participants observed that uncertainties concerning the level of the neutral
rate of interest complicated the assessment of the degree of restrictiveness of
monetary policy and, in their view, made it appropriate to reduce policy
restraint gradually," while "some participants noted that the Committee could
pause its easing of the policy rate and hold it at a restrictive level if
inflation remained elevated, and some remarked that policy easing could be
accelerated if the labor market turned down or economic activity faltered."
With mortgage rates at
multi-year lows at the end of September -- and still about a half-point below
today's levels through mid-October, contracts to purchase existing homes rose a
bit. The National Association of Realtors Pending Home Sales Index posted a 2%
increase for October, a third consecutive increase. After existing home sales in
October improved by 3.4% to a 3.96 million pace, the bump in the PHSI may be
enough to push sales to or just over the 4 million mark for November. After
that, though, the higher mortgage rates of November and seasonal sales effects
will likely damp sales until sometime after the calendar turns 2025.
Despite elevated mortgage
rates, somewhat more mortgage shoppers jumped in to the market in the week
ending November 22. The Mortgage Bankers Association reported a 6.3% increase in
the number of applications for mortgage credit for the period. Requests for
loans to refinance existing mortgages eased by 2.6%, but those to purchase homes
popped 12.2% higher as folks looked to get homebuying deals done before the end
of the year. Unless mortgage rates should suddenly plummet, we'd expect to see
demand for mortgages slackening over the coming weeks.
We expected a modest fall in
30-year mortgage rates this week, and received the same. Well, that's something
to be thankful for. In fact, we conjured up Five things homebuyers can be thankful for this
Thanksgiving, so the housing climate may
not be as bleak as one might be led to believe, or at least there's reason for
hope.
We
expected a modest fall in 30-year mortgage rates this week, and received the
same. Well, that's something to be thankful for. In fact, we conjured up Five things homebuyers can be thankful for this
Thanksgiving,
so the housing climate may not be as bleak as one might be led to believe, or at
least there's reason for hope.
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