Statistical Tables | Mounting Concerns
| Trends at a Glance | |||
| (Single-family Homes) | |||
| Feb 25 | Jan 25 | Feb 24 | |
| Median Price: | $1,300,000 | $1,120,000 | $1,300,000 |
| Average Price: | $1,376,602 | $1,292,320 | $1,375,156 |
| Home Sales: | 463 | 331 | 433 |
| SP/LP Ratio: | 108.0% | 102.1% | 107.3% |
| Days on Market: | 22 | 34 | 23 |
| (Condos/Townhomes) | |||
| Feb 25 | Jan 25 | Feb 24 | |
| Median Price: | $700,000 | $680,000 | $750,000 |
| Average Price: | $763,792 | $720,267 | $787,067 |
| Condo Sales: | 150 | 145 | 175 |
| SP/LP Ratio: | 101.7% | 99.5% | 102.3% |
| Days on Market: | 42 | 52 | 27 |
Sales of single-family, re-sale homes rose 6.9% from last year. There were 463
homes sold in Alameda County last month. The average since 2000 is 921.
The average sales price for
single-family, re-sale homes rose
0.1%
year-over-year.
It was up 6.5% from January.
The median sales price for
single-family, re-sale homes was flat year-over-year.
It was up 16.1% from January.
The sales price to list price ratio rose from 102.1% to 108%.
Homes sold in twenty-two-four days. This is the time from being listed to going
under contract.
The average sales price for condos was down 3% year-over-year. It was up 6% from
January. The median sales price was down 6.7% year-over-year but it was up 2.9%
month-over-month.
The sales price to list price ratio for condos rose from 99.5% to 101.7%.
Condo sales were down 14.3% from last year. There were 150 condos sold.
Condos sold on average in forty-two days.
Momentum Statistics
Sales momentum…
for
single-family homes fell 0.5 of a point to +10.6.
Pricing momentum…
for single-family homes was down 1.3 points to +3.8
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.
| February 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 | $1,300,000 | $1,376,602 | 463 | 22 | 108.0% | 0.0% | 0.1% | 6.9% | 16.1% | 6.5% | 39.9% |
| Alameda | $1,405,000 | $1,325,912 | 18 | 31 | 105.2% | -1.5% | -9.9% | -14.3% | 24.6% | 0.0% | 63.6% |
| Albany | $1,643,500 | $1,612,500 | 4 | 30 | 114.1% | 55.2% | 25.8% | 0.0% | 55.8% | 52.8% | 100.0% |
| Berkeley | $1,632,500 | $1,662,636 | 22 | 36 | 103.5% | -6.7% | -6.3% | -48.8% | 10.7% | 13.2% | 22.2% |
| Castro Valley | $1,250,000 | $1,294,523 | 17 | 53 | 102.6% | 0.0% | 1.6% | -10.5% | 1.4% | 3.7% | 6.3% |
| Dublin | $1,517,500 | $1,544,891 | 26 | 30 | 103.7% | -19.3% | -20.3% | 13.0% | -16.0% | -19.5% | 160.0% |
| Fremont | $1,722,000 | $1,853,543 | 51 | 32 | 109.6% | -3.8% | -6.0% | -40.7% | -1.3% | 1.2% | 121.7% |
| Hayward | $965,000 | $1,059,051 | 36 | 58 | 106.0% | -7.0% | -4.3% | -18.2% | 1.6% | 5.2% | 5.9% |
| Livermore | $1,300,000 | $1,473,716 | 50 | 34 | 102.2% | -0.8% | 0.5% | 16.3% | 10.4% | 16.0% | 56.3% |
| Newark | $1,360,000 | $1,393,105 | 19 | 45 | 107.5% | 0.7% | 2.8% | 11.8% | -8.4% | -5.6% | 72.7% |
| Oakland | $890,000 | $1,051,996 | 123 | 71 | 112.3% | 3.5% | 2.6% | 6.0% | 18.7% | 12.7% | 17.1% |
| Piedmont | $2,737,500 | $2,528,125 | 8 | 40 | 110.6% | 1.5% | -13.3% | 0.0% | -47.8% | -49.2% | 100.0% |
| Pleasanton | $1,690,000 | $2,024,448 | 29 | 45 | 101.9% | -13.3% | -13.2% | -25.6% | -8.2% | -13.9% | 45.0% |
| San Leandro | $870,000 | $896,341 | 29 | 49 | 105.5% | -0.9% | -1.6% | -3.3% | 4.8% | 8.6% | 38.1% |
| San Lorenzo | $872,500 | $911,323 | 12 | 36 | 104.6% | -1.5% | 0.8% | 0.0% | 2.0% | 2.9% | 33.3% |
| Union City | $1,601,000 | $1,700,568 | 17 | 39 | 108.1% | 9.3% | 19.2% | -15.0% | 9.6% | 10.7% | 21.4% |
| February 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 | $700,000 | $763,792 | 150 | 42 | 101.7% | -6.7% | -3.0% | -14.3% | 6.0% | 2.9% | 3.4% |
| Alameda | $877,500 | $940,500 | 8 | 28 | 105.4% | 2.5% | 10.0% | -55.6% | 33.9% | 12.9% | 33.3% |
| Albany | $399,000 | $453,000 | 3 | 79 | 97.3% | -1.5% | -2.0% | 0.0% | 5.2% | -7.0% | 0.0% |
| Berkeley | $958,000 | $950,600 | 5 | 85 | 104.5% | 33.0% | 32.2% | 25.0% | 35.9% | 27.9% | 66.7% |
| Castro Valley | $887,500 | $956,250 | 4 | 92 | 102.2% | 0.0% | 3.9% | -33.3% | 43.1% | 41.8% | 33.3% |
| Dublin | $785,000 | $881,525 | 11 | 71 | 100.6% | -18.8% | -10.6% | -52.2% | 9.3% | -2.4% | -8.3% |
| Emeryville | $580,000 | $771,667 | 3 | 144 | 92.3% | 46.1% | 74.9% | -40.0% | 24.5% | -7.6% | -25.0% |
| Fremont | $886,500 | $959,821 | 28 | 45 | 102.6% | -16.1% | -5.4% | -45.1% | 6.8% | 9.4% | -12.5% |
| Hayward | $705,000 | $703,025 | 20 | 87 | 102.1% | -11.9% | -11.5% | 33.3% | 1.7% | -0.7% | 5.3% |
| Livermore | $728,500 | $720,000 | 10 | 66 | 99.3% | -4.8% | 0.1% | -37.5% | -3.7% | -16.2% | 42.9% |
| Newark | $1,130,000 | $1,130,000 | 2 | 26 | 102.8% | 3.4% | 11.9% | -85.7% | 104.8% | 156.8% | -33.3% |
| Oakland | $508,000 | $537,108 | 35 | 94 | 101.2% | -24.1% | -22.2% | -10.3% | -10.8% | -5.0% | 29.6% |
| Pleasanton | $922,500 | $853,500 | 10 | 49 | 100.7% | 13.2% | 0.8% | 0.0% | 2.3% | 7.8% | 66.7% |
| San Leandro | $510,000 | $584,682 | 7 | 62 | 101.6% | -16.4% | -3.6% | -46.2% | 21.0% | 13.3% | 0.0% |
| Union City | $822,000 | $818,500 | 4 | 44 | 103.2% | -8.7% | 0.8% | -20.0% | 12.7% | 20.9% | -55.6% |
February 28,
2025 -- Long-term yields moved
lower this week, which should help mortgage rates retreat back to at least early
December levels. Unfortunately, what drove yields and rates lower appears to be
growing concern about the strength of the economy going forward. In recent
weeks, there's already been evidence of uncertainty or unease regarding the
impacts of changes to tariff and immigration policies, which have now been
joined by headlines of many tens of thousands of federal workers being laid off.
Headlines of mass firings can be unnerving and certainly add to the feeling of
discomfort.
There is essentially no
momentum to be seen in the housing market. We wrote about housing's winter chill
and builder blues in last week's MarketTrends, but there was more coldness to be
added to that this week. Sales of new homes in January slumped by 10.5%, falling
from an upwardly-revised 734,000 annual pace to just a 657,000 one. The drop in
sales saw inventory levels balloon back up to a nine month's supply at the
present rate of sale, with the 495,000 units available the highest supplies have
been since December 2007. More supply and less demand should have helped to
temper prices but didn't, as the median price of a new home sold rose to
$446,300, up 7.6% compared to December and 3.7% above year-ago levels. It's too
soon to say, but the increase may be early signs of the impact of tariffs on the
many goods that go into building a new house.
Perhaps the market for
existing homes can be expected to improve? Probably not, at least not in the
near term. The Pending Home Sales Index from the National Association of
Realtors -- a measure of signed contracts to buy -- followed up a 4.1% decline
in December with another 4.6% drop in January, leaving this index at its lowest
level ever (the series began in 2021). The December drop was partly or mostly
reflected in January's 4.9% decline in existing home sales to a 4.08 million
annual pace, and this new PHSI decline makes it likely that a drop back to
perhaps a 3.90 million rate will be seen when February sales are tallied. After
that, we'll need to see if the recent decline in mortgage rates spurs any buyers
into the market to start the spring homebuying season. Our guess is "some".
Applications for mortgage
credit certainly aren't improving, either. The Mortgage Bankers Association
reported that requests for home loans eased another 1.2% in the week ending
February 21. Applications for loans to finance home purchases rose by 0.2%, a
bare improvement but the first increase since mid-January, while demand for
loans to refinance existing mortgages slid by 3.6%. We may see a little increase
in refinancing activity for the last week of February, goosed by slightly lower
mortgage rates.
It's always been the case that
bad news brings lower interest rates. To be sure, we aren't seeing "bad" news of
late per se, but rather news that's simply not as good as it was. The economy is
growing, albeit likely at a slower pace. The labor market is still strong, and
should remain so overall despite federal job cuts. Prices for certain items are
still rising, but some of this may be offset in time with lower fuel costs, and
lower interest rates can help ameliorate the effects of higher prices, too.
Things may not seem great right now, but they certainly aren't bleak by any
measure.
Still, disappointment in where
things are and where they seem to be going does have some effect, and the
decline in bond yields this week will help lower mortgage rates next week. That
may spread a little cheer, at least among those inclined to obtain or refinance
a mortgage, so that's something. We think that the average offered rate for a
conforming 30-year fixed-rate mortgage as reported by Freddie Mac will fall by
about nine basis points next week, possibly a bit more. We'll know when the next
update for rates comes out Thursday amid the first-week-of-the-month blitz of
data.
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