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What the heck is going on in the Real Estate Market?
The Appraiser’s Appraisal
San Leandro (All)
Sold past 1-6 months (n=320) median (med) $829,500 Days on Market (DOM)=13
Sold past 7-12 months (n=341) med $900,000 DOM=9
This suggests a primary (year) change of -7.833%.
Sold past 1-3 months (n=162) med $786,500 DOM=17
Sold past 4-6 months (n=158) med $850,000 DOM=12
This suggests a secondary (quarter to quarter) change of -7.471%.
There are 42 current active listings ranging from $430,000 to $1,790,000 with median DOM at 42 days. Range 1 – 313.
There are 51 pending listings (in contract) ranging from $349,000 to $1,325,000 with median DOM at 21 days. Range 1 – 168 days.
So, what’s going on? The 10/05 review of San Leandro suggested a primary stable trend of -0.588% (change of less than 2%) and a secondary decrease of 14.439%. The primary trend has turned solidly negative, and the secondary decrease has moderated. We again see this moderation of the secondary trend. This could foreshadow a market approaching bottom. Once again, we need more than just a couple of data points to establish a trend. Still, it is interesting. I suspect that some East Bay markets may well be approaching a new normal, but we will have to wait and see. I would think hard about these indicators if I were looking to buy in San Leandro.
Where should we look next?
Want to know what’s going on in a different market or sub-market? Just ask!
Appraiser legal stuff:
Data is from EBRDMLS and includes all of the City of San Leandro, all MLS residential listings, effective as of 11/18/2022
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