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What the heck is going on in the Real Estate Market?
The Appraiser’s Appraisal
San Lorenzo (All)
Sold past 1-6 months (n=127) median (med) $830,000 Days on Market (DOM)=13
Sold past 7-12 months (n=115) med $905,000 DOM=8
This suggests a primary (year) change of -8.287%.
Sold past 1-3 months (n=58) med $785,000 DOM=15
Sold past 4-6 months (n=69) med $850,000 DOM=12
This suggests a secondary (quarter to quarter) change of -7.647%.
There are 23 current active listings ranging from $575,000 to $1,600,000 with median DOM at 19 days. Range 3 – 350.
There are 17 pending listings (in contract) ranging from $599,000 to $894,900 with median DOM at 16 days. Range 1 – 79 days.
So, what’s going on? The 10/06 review of San Lorenzo Township suggested a primary stable trend of -1.489% (change of less than 2%) and a secondary decrease of 10.497%. Very similar to San Leandro, the primary trend has turned solidly negative, and the secondary decrease has moderated. We have seen this secondary moderation in several East Bay markets over the past few weeks. We will need to look at some of these same markets again in the next few weeks to see if this pattern continues. We know that interest rates have had an effect but, the main determinate of housing values is employment saturation. Google that!
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 all of the San Lorenzo Township, all MLS residential listings, effective as of 11/21/2022
#realestate
