Alameda (Bay Farm/Harbor Bay)

What the heck is going on in the Real Estate Market?

The Appraiser’s Appraisal

Sold past 1-6 months (n=80) median (med) $1,230,500 Days on Market (DOM)=13

Sold past 7-12 months (n=66) med $1,307,500 DOM=7

This suggests a primary (year) change of -5.889%.

Sold past 1-3 months (n=37) med $1,125,000 DOM=16

Sold past 4-6 months (n=43) med $1,300,000 DOM=12

This suggests a secondary (quarter to quarter) change of -13.462%.

There are 10 current active listings ranging from $695,000 to $2,095,000 with median DOM at 28 days. Range 2 – 124.

There are 10 pending listings (in contract) ranging from $825,000 to $3,099,000 with median DOM at 24 days. Range 4 – 60 days.

So, what’s going on? The 10/04 review of the Bay Farm/Harbor Bay (Alameda) suggested a primary decrease of 4.453% and a secondary decrease of 17.654%. The primary trend has accelerated a bit and the secondary decrease has moderated. The moderation of the secondary trend seems to be a somewhat tenuous pattern in some East Bay cities. Could we be reaching a turning point? I expect another few months of modest declines followed by modest increases. This is assuming that interest rates do not vary significantly which could move the needle in a corresponding direction. It will be interesting to look at some of these same markets in the next month or so. We may be able to pick out some solid patterns but, we will just have to wait and see.

Where should we look next?

Want to know what’s going on in a different market or sub-market? Just ask!

Appraiser legal stuff:

Data is from EBRDMLS and includes the City Alameda -Bay Farm/Harbor Bay (94502), all MLS residential listings, effective as of 11/17/2022

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