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Eastbay Real Estate Market Update June 2020 - #brokermac
June 09, 2020 at 11:05am | Mac Rogers
this video we will look at the market activity per region in the east bay and let you know what is going on. Stick around to the end of the video for our free report.
Hey guys, it's Mac Rogers, broker/owner of Albert Rogers Realty here in Castro Valley CA. If you are new to the channel, this is all about real estate market updates as well as tips and advise for home buyers and home sellers. If you like this info please
like and click the subscribe button. If you have any questions, comments or feedback please let me know below.
Please note that these numbers are for detached homes. If you want the townhomes and condo numbers comment below.
Let us start with the 880 corridor. Let's take a look at inventory numbers. The number of homes for sale was down everywhere except for Alameda & Berkeley which stayed about the same.
In Albany, Hayward, Newark, and Union City, inventory was down more than 50% from May of 2019. Union City was actually down 73%. From 60 units last May to only 16 this May.
With the number of inventory down, the number of homes sold also down except for Albany which stayed the same.
The following cities experienced at least 50% or more drop in the number of homes sold.
Alameda, Berkeley, Fremont, Newark, San Leandro, San Lorenzo & Union City.
Selling price compared to last May is a little bit mixed with Alameda, Albany, Berkley, Castro Valley, San Lorenzo & Union City all experiencing an increase in average selling price. Albany had the biggest price increase -- hold on to your hats --
up 32% followed by my hometown of Castro Valley up 17%.
Days on market or how fast homes are going pending are also mixed. Some cities stayed the same others went up a bit but nothing significant except for Berkeley which went from 21 days down to 14 days and Union City from 22 days down to 12 days.
Let's head out to the Tri-valley. Inventory significantly down everywhere. At least 29% with San Ramon down 51% compared to May of last year.
As to be expected, with inventory down, the number of homes sold is significantly down as well. At least 54% in Danville and as high as 73% for San Ramon. The rest of the cities down in the 60% range.
Selling price also took a hit in the Tri-valley, with Danville and Livermore going down 14% & 15% respectively. Pleasanton and San Ramon followed. Down 13%. Alamo & Dublin down marginally. 1% and less than 1% respectively.
LAMORINDA is next.
Inventory for Moraga & Orinda both down over 30% and Lafayette inventory up 5%.
The number of homes sold all significantly down. 50%. 71%. 32% respectively for LAMORINDA.
Sales price stayed about the same except for Orinda. Down almost 8%.
Up next is West Contra Costa County.
No surprise here. Inventory also down throughout with El Cerrito the biggest with 68% decline in inventory.
Number of sales also down significantly. San Pablo a whopping 88% decline. Followed by Pinole down 75% and Hercules 71%. The rest of the cities in the 30 to 40% decline.
The average sales price is mixed. With El Cerrito and El Sobrante down the biggest at 17% & 15% respectively.
In Central Contra Costa County, it was only Martinez that had an increase in inventory. The rest all down with Clayton having the biggest decline at 61%.
Number of homes sold all down more than 50% except for Pleasant Hill. Only down 14%.
Average sales price all down with Walnut Creek the biggest decliner at 10%.
Finally, let's go to the Delta.
Inventory numbers? Yep. You guessed it. Significantly down. The lowest decline was Brentwood at 30%. The rest all above that number.
Number of homes sold, same story. All significantly down with at least a 34% decline in Pittsburg.
Average sales price was mixed with Oakley down a little over 10% and Antioch up about 5%. The rest of the cities declining marginally.
Number of days on the market was the same thing. Some taking longer to sell while others selling faster. Antioch went from 25 days to 17 days.
That's the East Bay regional market report. The story was pretty much the same across the board in terms of inventory. In most cases, inventory way down compared to May 2019. The number of property sold followed as well. Way down compared to May of last
Prices were all over the place, but for the most part prices remain strong. Meaning if you are looking for a bargain, it will be hard to find depending on where you are buying.. Let me know what you think? Do you think we will continue to go up or are
we going down?
I didn't cover the condos and townhomes on this video. If you would like to know those numbers or would like to get the actual data for your city, comment below and I will send it to you. Thank you for tuning in.