Oakland CA (Crocker Highlands, Trestle Glen & Lakeshore)

by James Forquer

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

The Appraiser’s Appraisal

Oakland (Crocker Highlands, Trestle Glen & Lakeshore)

Sold past 1-6 months (n=69) median (med) $1,625,000 Days on Market (DOM)=14

Sold past 7-12 months (n=101) med $1,600,000 DOM=12

This suggests a primary (year) change of +1.063% (stable).

Sold past 1-3 months (n=26) med $1,692,500 DOM=18

Sold past 4-6 months (n=43) med $1,600,000 DOM=13

This suggests a secondary (quarter to quarter) change of +5.781%.

There are 11 current active listings ranging from $309,000 to $3,850,000 with median DOM at 21 days. Range 2–187 days.

There are 7 pending listings (in contract) ranging from $299,900 to $1,598,000 with median DOM at 18. Range 3-113

11/25 review: yearly change +24.768%; quarter-to-quarter change -0.594%. 10/10 review: yearly change +24.078%; quarter-to-quarter change -8.034%. 9/1 review: yearly change +16.071%; quarter-to-quarter change +8.387%

So, what’s going on? This area has seen very minimal impact from the interest rate increases. The yearly trend is just now stable having been in positive territory for all of our observations. The quarter-to-quarter trend turned negative in October, stabilized in November, and is now positive. This gives us some confidence in the positive figure from yesterday for the Piedmont side of Montclair. Crocker Highlands in particular, has a very strong demand. This may not be a good indicator of what will happen in the larger East Bay but, it does show an upward trend similar to many of the other markets we have looked at. I believe we are flirting with a recovery from recent interest rate shocks but, we will keep looking. We may restrict our review of prior observations to the past 2 only. This allows us to see the trend without including a possibly confusing volume. I have yet to decide as I like seeing the full set…

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 Oakland Ave, East of Hwy 580 and West of the City of Piedmont, all MLS residential listings, effective as of 01/27/2023

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

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