The San Lorenzo Market

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

The Appraiser’s Appraisal

San Lorenzo (All)

Sold past 1-6 months (n=104) median (med) $789,000 Days on Market (DOM)=18

Sold past 7-12 months (n=118) med $900,000 DOM=8

This suggests a primary (year) change of -12.333%.

Sold past 1-3 months (n=38) med $787,000 DOM=19

Sold past 4-6 months (n=66) med $800,000 DOM=18

This suggests a secondary (quarter to quarter) change of -1.625% (stable).

There are 8 current active listings ranging from $129,000 to $1,049,900 with median DOM at 30 days.  Range 2–69 days.

There are 7 pending listings (in contract) ranging from $697,000 to $925,000 with median DOM at 24 days.  Range 7-165 days.

11/21 review: primary change -8.287%; secondary change -7.647%.  10/06 review: primary change -1.489; secondary change -10.497%.

So, what’s going on?  The yearly (primary) trend has accelerated as expected and in fact, this market is very much like the San Leandro market.  We again see the moderation of the quarter-to-quarter trend.  It is now stable, and I expect it to turn positive shortly.  This also suggests that the yearly trend will follow.  The sky has not fallen, and we should see prices start to go back up.  First the quarter-to-quarter trend in the next 30-45 days followed by the yearly trend in the next 60-90 days.  That is what I see today.  Things can change and we will keep our eyes open for indicators either way.

Have any other real estate questions?  Want to know what’s going on in a different market or sub-market?  Just ask!

Appraiser legal stuff:

CA Office of Real Estate Appraisers License No. AR041451 – JamesForquer.com  – jamesforquer@comcast.net  Data is from EBRDMLS and includes the City of San Leandro (All), all MLS residential listings, effective as of 01/23/2023

Listing/Sales services provided through Coldwell Banker – Montclair   510-339-6134 Jim Forquer DRE No. 01205407