Alameda CA (Harbor Bay/Bay Farm)

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

The Appraiser’s Appraisal

Alameda (Bay Farm/Harbor Bay)

Sold past 1-6 months (n=53) median (med) $1,075,400 Days on Market (DOM)=16

Sold past 7-12 months (n=90) med $1,340,000 DOM=11

This suggests a primary (yearly) change of -19.776%.

Sold past 1-3 months (n=20) med $962,500 DOM=14

Sold past 4-6 months (n=33) med $1,080,000 DOM=26

This suggests a secondary (quarter to quarter) change of -10.880%.

There are 6 active listings ranging from $685,000 to $1,149,000 with a median DOM at 6 days.  Range 4-242 days.

There are 7 pending listings (in contract) ranging from $790,000 to $1,499,000 with median DOM at 12 days.  Range 3-64 days.

1/19 review: yearly change -13.077%; quarter-to-quarter change -10.400%.  11/17 review: yearly change -5.889%; quarter-to-quarter change –13.462%.  10/04 review: yearly change -4.453%; quarter-to-quarter change –17.654%.

So, what’s going on?  The yearly trend is lower than any prior observation.   The quarter-to-quarter trend is very close to the prior observation.  Has it bottomed out?  That would be my guess at this point but, we will have to wait and see.   It is interesting that the days on market (DOM) have gone down from the prior quarter to the current quarter.  This suggests that the market or more likely seller expectations, have adjusted.  We will come back here in a month or so and see what’s up.  I am still thinking we will see some overall increases as the Spring and Summer selling seasons get underway.  I am seeing some increase in refinances…

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 the City of Alameda 94602, all MLS residential listings, effective as of 03/15/2023

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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