April 18, 2020 at 2:05pm | Mac Rogers
Hey guys it's Mac with Albert Rogers Realty here in Castro Valley, CA

With our ever changing situation, I wanted to give you a mid month real estate market update for the east bay.

We are just focusing on the first half of April. From the first to the fifteenth. Comparing it to the same period last year.

Let's start with the number of homes for sale. As you can see form the chart. It's mixed with some regions increasing inventory and two, LAMORINDA & the tri-valley experiencing a decline.

What's interesting about this is that back in March we saw a decline in inventory coming into the market.

Let's move-on to sales price. COVID-19 crises has affected our economy but how has it affected the sales price?

Let's look at the chart. While there's a lot of uncertainty currently around us, home buyers are still showing a lot of confidence in home ownership.

Take a look at the numbers. The only region that was down was LAMORINDA. Down by 4%. The 880 corridor, west contra costa and the tri-valley all experienced double digit price increase.

So mix a of inventory and prices mostly up. Now let's look at the number of homes sold.

As you can see from this chart. The number of homes sold all down throughout the region. Central contra costa experiencing the biggest decline so far with 44%.

So what might be in store for us in the second half of April? Let's look at pending sales to get an idea.

Compared to last year. Look at these numbers. Big drop everywhere. Tri-valley 68% drop. The rest of the region not too far behind.

That's our market snapshot and how it looks like right now for the first half of April.
Inventory is mix.
Prices still strong.
Sales activity & pending sales way down.

That's our mid month update. See you in a couple of weeks when we go give the full picture for April. Stay safe.



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