Oakland, CA (Piedmont side of Montclair)

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

The Appraiser’s Appraisal

Oakland (Piedmont side of Montclair)

Sold past 1-6 months (n=31) median (med) $1,780,000 Days on Market (DOM)=15

Sold past 7-12 months (n=383) med $2,100,000 DOM=12

This suggests a primary (year) change of -15.238%.

Sold past 1-3 months (n=8) med $1,860,000 DOM=19

Sold past 4-6 months (n=53 med $1,780,000 DOM=13

This suggests a secondary (quarter to quarter) change of +4.494%.

There are 2 current active listings: $995,000 and $2,395,000 with median DOM at 2 days.  Range 1–5 days.

There are 0 pending listings (in contract).

11/24 review: yearly change -12.363%; quarter-to-quarter change -8.968%.  10/09 review: yearly change +0.901%; quarter-to-quarter change -16.862%.   8/31 review: yearly change +4.079%; quarter-to-quarter change -20.201%

So, what’s going on?  The yearly (primary) trend has accelerated as expected.  At first blush, it would appear that the quarter-to-quarter trend has turned positive.  This is not a reliable picture.  The sample size (n) for the current quarter is only 8, anything less than 10 is typically thrown out.  We can infer that this may be a somewhat accurate picture from the progression of the prior observations however, I would probably rely on the primary trend only.  It will be interesting to look here again to see if the market provides us with a few more sales next time.  Nearby Crocker Highlands may also provide additional clarity and we will be looking there tomorrow.   We will just have to come back here in a month or so…

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 Oakland North of Park Blvd, South of Broadway Terrace, East of the City of Piedmont and West of Hwy 13, all MLS residential listings, effective as of 01/26/2023

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

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