Alameda CA (Bay Farm Island & Harbor Bay)

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=63) median (med) $1,130,000 Days on Market (DOM)=16

Sold past 7-12 months (n=80) med $1,300,000 DOM=10

This suggests a primary (year) change of -13.077%.

Sold past 1-3 months (n=28) med $1,120,000 DOM=20

Sold past 4-6 months (n=35) med $1,250,000 DOM=15

This suggests a secondary (quarter to quarter) change of –10.400%.

There are 8 current active listings ranging from $799,000 to $1,499,000 with median DOM at 10 days.  Range 1–187 days.

There are 4 pending listings (in contract) ranging from $830,000 to $1,999,000 with median DOM at 30 days.  Range 4-92 days.

11/17 review: primary change -5.889%; secondary change -13.462%.  10/04 review: primary change -4.453; secondary change -17.654%.

So, what’s going on?  The yearly (primary) trend has accelerated as expected similar to almost every other market we have looked at.  The quarter-to-quarter trend moderated from the 10/04 bottom.  Here again, the quarter-to-quarter trend is still negative but appears to be recovering.  This is a slightly different pattern than what we saw on the main island of Alameda.  It could be that we will see a turn back into negative territory for some of those markets where the quarter-to-quarter trend has already turned positive but, I do not think so.  I expect the quarter-to-quarter trend to continue to moderate and turn positive in the next 30 to 45 days and the yearly trend to follow.  We will keep out eyes open…

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 OREA License No. AR041451 – JamesForquer.com  – jamesforquer@comcast.net

Data is from EBRDMLS and includes the City of Alameda (Bay Farm & Harbor Bay -94502), all MLS residential listings, effective as of 01/19/2023    #realestate