Oakland, CA (Montclair)

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

The Appraiser’s Appraisal

Oakland (Montclair)

Sold past 1-6 months (n=104) median (med) $1,471,500 Days on Market (DOM)=16

Sold past 7-12 months (n=172) med $1,712,500 DOM=12

This suggests a primary (yearly) change of -14.073%.

Sold past 1-3 months (n=38) med $1,400,650 DOM=22

Sold past 4-6 months (n=66) med $1,562,500 DOM=14

This suggests a secondary (quarter to quarter) change of -10.358%.

There are 26 current active listings ranging from $799,000 to $2,495,000 with median DOM at 12 days.  Range 4–217 days.

There are 4 pending listings (in contract) ranging from $799,000 to $2,400,000 with median DOM at 33.  Range 5-67 days.

11/29 review: yearly change -7.864%; quarter-to-quarter change –7.831%.  10/12 review: yearly change -1.212%; quarter-to-quarter change -13.650%.   9/3 review: yearly change +2.989%; quarter-to-quarter change -8.600%

So, what’s going on?  We see that the quarter-to quarter trend has gone back down a little but, it is still above its 10/12 bottom.  Trends seldom go in a straight line in either direction.  The yearly trend has also accelerated (gone down) as expected.  I do not believe that the fluctuation of the quarter-to-quarter trend is a concern and still think we will see it get better in the near term.  The primary trend may be at or near its bottom and should start coming back up shortly thereafter.  We will come back to Montclair in a month or so and see how things pan out.

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 Office of Real Estate Appraisers License No. AR041451 – JamesForquer.com  – jamesforquer@comcast.net  Data is from EBRDMLS and includes the City of Oakland North of Joaquin Miller/Redwood Parks, South of Hwy 24, East of Hwy 13 and West of  Contra Costa County, all MLS residential listings, effective as of 01/31/2023

Listing/Sales services provided through Coldwell Banker – Montclair   510-339-6134 Jim Forquer DRE No. 01205407

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