Oakland CA (North)

by James Forquer

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

The Appraiser’s Appraisal

City of Oakland (North)

Sold past 1-6 months (n=62) median (med) $1,025,000 Days on Market (DOM)=23

Sold past 7-12 months (n=100) med $1,222,500 DOM=13

This suggests a primary (yearly) change of -16.155%.

Sold past 1-3 months (n=20) med $827,000 DOM=15

Sold past 4-6 months (n=42) med $1,107,500 DOM=27

This suggests a secondary (quarter to quarter) change of -25.327%.

There are 24 current active listings ranging from $699,950 to $2,399,999 with median DOM at 29 days. Range 1–327 days.

There are 10 pending listings (in contract) ranging from $598,000 to $1,498,000 with median DOM at 18 Days. Range 8-142 days.

12/06 review: yearly change +3.289%; quarter-to-quarter change -25.490%. 10/19 review: yearly change +16.706%: quarter-to-quarter change -12.692%. 9/08 review: yearly change +8.401%; quarter-to-quarter change +10.870% (stable).

So, what’s going on? The area looks to be behind the curve and appears to still be headed down overall although, the quarter-to-quarter trend may have bottomed out. This demonstrates the variability between market areas. Looking back on our prior reviews we see that the yearly trend started out positive, went up in October, came down in December and is just now showing negative. The quarter-to quarter trend started out positive, went negative in October, continued down in December and has remained just about the same today. I expect that the quarter-to-quarter trend has hit its low point but, we will have to come back in a month or so to see…

Have any other real estate questions? Want to know what is 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 Hwy 580, South of the City of Berkeley, East of San Pablo Ave and West of Hwy 24/Telegraph Ave, all MLS residential listings, effective as of 02/07/2023

Listing/Sales services provided through Coldwell Banker – Montclair 510-339-6134 Jim Forquer – CA Department of Real Estate License No. 01205407 #realestate