Albany, CA

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

The Appraiser’s Appraisal

Albany (all)

Sold past 1-6 months (n=35) median (med) $986,000 Days on Market (DOM)=14

Sold past 7-12 months (n=87) med $1,300,000 DOM=13

This suggests a primary (yearly) change of -24.154%.

Sold past 1-3 months (n=15) med $927,500 DOM=7

Sold past 4-6 months (n=20) med $973,000 DOM=16

This suggests a secondary (quarter to quarter) change of -4.676%.

There are 9 active listings ranging from $389,000 to $1,350,000 with a median DOM at 18 days.  Range 3-153 days.

There are 9 pending listings (in contract) ranging from $510,000 to $1,399,000 with median DOM at 10 days.  Range 2-70 days.

1/11 review: yearly change -15.385%; quarter-to-quarter change -6.667%.  11/09 review: yearly change –11.518%; quarter-to-quarter change -28.291%.  9/24 review: yearly change +1.961% (stable); quarter-to-quarter change 0%.

So, what’s going on?  We can see that the yearly trend has deteriorated, and the quarter-to-quarter trend has improved.  This still appears to be the most common pattern.   The current quarter sample size is small but, would be considered reliable.  Note the days on market, down quarter-to-quarter but almost stable for the year.  It looks like the market here is adjusting but, the volume of sales “n”, is down.  Regardless, I suspect that the yearly trend has neared its bottom and the quarter-to-quarter trend will continue to improve and turn positive in the near term.  We will just have to wait and 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 all of the City of Albany, all MLS residential listings, effective as of 03/07/2023

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

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