Oakland CA (Adams Point & Pill Hill)

by James Forquer

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

The Appraiser’s Appraisal

City of Oakland (Adams Point & Pill Hill)

Sold past 1-6 months (n=52) median (med) $601,000 Days on Market (DOM)=34

Sold past 7-12 months (n=70) med $620,000 DOM=16

This suggests a primary (yearly) change of -3.065%.

Sold past 1-3 months (n=25) med $655,000 DOM=40

Sold past 4-6 months (n=27) med $580,000 DOM=30

This suggests a secondary (quarter to quarter) change of +12.931%.

There are 14 current active listings ranging from $344,800 to $1,595,000 with median DOM at 21 days. Range 5–183 days.

There are 9 pending listings (in contract) ranging from $349,000 to $1,800,000 with median DOM at 14 Days. Range 1-125 days.

12/08 review: yearly change +4.758%; quarter-to-quarter change +5.645%. 10/21 review: yearly change +7.545%: quarter-to-quarter change -10.769%. 9/10 review: yearly change +12.182%; quarter-to-quarter change -2.400%.

So, what’s going on? The yearly trend has steadily declined, and the quarter-to-quarter trend has consistently improved. We know from our review of North and West Oakland that we can have reversals so, we will keep our eyes open. Barring unforeseen influences, we know that the quarter-to-quarter trend will eventually start to nudge the yearly trend. This is still what I expect to happen in most East Bay markets. Here, the yearly trend started out positive, went down in both October and December and is now negative. The quarter-to-quarter trend started out just barley negative, went further down in October, changed to positive in December and has gone further up as of today. This is very similar to many of the other markets we have looked at and promises an improving market overall. I am still betting on Spring and Summer…

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 includes the City of Oakland North of Grand Ave, South & East of Hwy 580, and West of Hwy 24, all MLS residential listings, effective as of 02/09/2023

Listing/Sales services provided through Coldwell Banker – Montclair 510-339-6134 Jim Forquer – CA Department of Real Estate License No. 01205407 #realestate