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

Home Sales Up & Prices Up in November

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.

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.

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%

Gradually, Over Time

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.  

This page is copyrighted by https://rereport.com. All rights are reserved.