Appraisers Appraisal January 20, 2023

The San Leandro Market

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

The Appraiser’s Appraisal

San Leandro (All)

 

Sold past 1-6 months (n=298) median (med) $780,000 Days on Market (DOM)=17

Sold past 7-12 months (n=339) med $914,900 DOM=9

 

This suggests a primary (year) change of -14.745%.

 

Sold past 1-3 months (n=121) med $780,000 DOM=17

Sold past 4-6 months (n=177) med $780,000 DOM=16

 

This suggests a secondary (quarter to quarter) change of 0%.

 

There are 43 current active listings ranging from $350,000 to $1,799,000 with median DOM at 35 days.  Range 1–339 days.

 

There are 30 pending listings (in contract) ranging from $349,000 to $1,050,000 with median DOM at 30 days.  Range 1-117 days.

11/18 review: primary change -7.833%; secondary change -7.471%.  10/05 review: primary change -0.588; secondary change -14.439%.

So, what’s going on?  The yearly (primary) trend has accelerated as expected similar to almost every other market we have looked at.  We expect this to happen as the data points (sales) from the current 2 quarters age and becomes a part of the yearly calculations.  The current quarter-to-quarter trend has moderated and is now exactly stable.  I expect the quarter-to-quarter trend to move into positive territory in the very near term, and the primary trend to start to moderate and turn positive in the coming few months.  This is the same pattern we have seen in parts of Contra Costa County.  It is interesting to note the current overall median sale value which suggests there is a price point at which we will see recovery first.  That $700,000 to $900,000 range.  We will have to keep tabs on this trend.

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 San Leandro (All), all MLS residential listings, effective as of 01/20/2023    #realestate