MARK E T R E PO R T
Q3 2020
Q3 2020
E A S T B AY A R E A
Keller Williams 1
Overview
Q3 2020
New Listings
Closed Sales
+5.2% Year-over-Year
+10.4% Year-over-Year
Median Sale Price
Average Price Per SqFt
5,518
4,572
Despite the continued concerns regarding the economy, the for-sale housing market accelerated through the end of the third quarter. With more households seeking larger spaces to work from home and for children to attend online classes, as well as families gaining access to backyards and outdoor spaces, homebuyer demand surged in many neighborhoods. While the pandemic and recession dominate headlines, the inventory of homes for sale continue to dictate market statistics. The potential sales activity for the last few months would be even higher if more quality homes were available. In recent months, the number of homes available decreased to historic lows. The lack of trade-up options for some existing owners has kept the household in place. Many potential sellers remained hesitant to market and make their homes available for tours. With few homes available for sale, those homes that were marketed efficiently sold quickly.
$885K $577 +9.4% Year-over-Year
+6.1% Year-over-Year
The third quarter was characterized by high sales volume and increased sales price. Overall sales volume was up about 21% from this same time last year. New listings were up approximately 5% from the previous year and about 28% over the previous quarter. Following this pattern, the overall median sales price on Single Family homes increased 13% over the past year, and about 5% over the past month. Surprisingly, the median sales price on Condos/Townhomes was flat month-over-month, and up 7% year-over-year. The average time on the market was around 20 days, which is about half the time compared to the same quarter last year but up over the historically undersupplied second quarter.
Total Sold Volume
Average Days on Market
Throughout the Bay Area, elevated demand for housing should persist as low mortgage rates improve purchasing power. Though the recession may extend longer than many had hoped, the tech industry may avoid widespread layoffs, helping to sustain demand.
+20.7% Year-over-Year
+23.7% Year-over-Year
$4.55B 20
Tina Jones | CEO, Team Leader Data includes all single family, townhome, and condominium sales in Alameda, Albany, Berkeley, Castro Valley, Dublin, El Cerrito, El Sobrante, Emeryville, Fremont, Hayward, Livermore, Newark, Oakland, Piedmont, Pleasanton, Richmond, San Leandro, San Lorenzo, San Pablo, Unition City sourced from BrodgeMLS and Broker Metrics.
Keller Williams 2
Contracts Signed and Closed Sales Single Family, Townhomes, and Condominiums
New Contracts Signed By Month, Year-Over-Year 2200
2019
Q3 2020
2020
2,191
2000 1,910
1,889
1,899
+5.1% 1800
1,830
1,729
1,798
1,734 1600
1,617
1,571 1400 May
June
July
August
September
Closed Sales By Month, Year-Over-Year 1800
2019
2020
1,680
1600
1,502
1400
1,460
1,462
1,536
1,534
1,457
1200
+25.7%
1,220 1,143
1000 800 675 600 May
June
July
August
September Keller Williams 3
Single Family Homes East Bay Area
Q3 2020
Q3 2020’s single family homes saw a sharp increase in new listings and sold units quarter-over-quarter. Median sales price was overall steady quarterover-quarter and properites sold over original asking price. Average days on market have been in a steady decrease during the past year.
New Listings vs. Closed Sales 4000
New
Sold
Median Sales Price
3,975
0-1BD
2BD
3BD
4BD
5+BD
ALL
3Q19
$536,800
$661,500
$787,500
$1,056,500
$1,350,000
$885,000
4Q19
$535,000
$650,000
$800,000
$1,050,000
$1,310,000
$875,000
1Q20
$527,500
$642,500
$785,750
$1,100,000
$1,417,000
$889,000
2Q20
$525,000
$730,000
$852,100
$1,150,000
$1,407,500
$950,000
3Q20
$500,000
$750,000
$885,000
$1,185,000
$1,500,000
$1,000,000
3,896
3500
3,193
3,175 3000
2,811
3,466
2,660
2500 2,111
2,143
2000
1,815
1500 3Q19
4Q19
1Q20
2Q20
3Q20
Median Sales Price vs. Original Asking Price
Average Days on Market
107%
106.5% 106.4%
106%
30
30
107% 106.2%
106.1%
25 25 22 20 20
105.5% 105%
19
15 3Q19
104.5%
4Q19
1Q20
2Q20
3Q20
104.5%
104% 3Q19
4Q19
1Q20
2Q20
3Q20 Keller Williams 4
Townhomes & Condominiums East Bay Area
Q3 2020
Q3 2020’s townhomes and condominiums saw a sharp increase in new listings and sold units quarter-over-quarter. The median sales price was slightly down to flat in all BR types year over year, and down drastically compared to the previous quarter. Average days on market was flat quarter-over-quarter, and properties sold slightly less than original asking price. New Listings vs. Closed Sales
New
1600
Sold
Median Sales Price 0-1BD
2BD
3BD
4BD
5+BD
ALL
3 Q 19
$460,000
$575,000
$725,000
$786,000
$787,000
$615,000
4 Q 19
$430,000
$570,000
$710,000
$794,995
$790,000
$605,000
1Q 2 0
$456,500
$605,000
$761,750
$771,475
$771,475
$640,000
2Q20
$455,000
$610,000
$767,500
$900,800
$899,900
$655,000
3Q20
$450,000
$620,000
$784,000
$900,000
$900,000
$660,000
1,542 1,349
1300 1,104 1100 964
1,012
1,106
903
900 700 765
735 582
400 3Q19
4Q19
1Q20
2Q20
3Q20
Median Sales Price vs. Original Asking Price 103%
102.8%
Average Days on Market
102.9%
40
39
35 102.5% 30
31 27
102% 101.8%
101.8%
101.8%
2Q20
3Q20
25
28
25 3Q19
4Q19
1Q20
2Q20
3Q20
101.5% 3Q19
4Q19
1Q20
Keller Williams 5
East Bay Area Number of Sales
73
Q3 2020
47
228 64 37
175 32
36
998 Alameda pg 7 Albany pg 7 Berkeley pg 8 Castro Valley pg 8 Dublin pg 9
184 181 196
El Cerrito pg 9 El Sobrante pg 10 Emeryville pg 10 Fremont pg 11
303
71
309
360
476
Hayward pg 11 Livermore pg 12 Newark pg 12 Oakland pg 13 Piedmont pg 13
105
Pleasanton pg 14 Richmond pg 14 San Leandro pg 15
604
San Lorenzo pg 15 San Pablo pg 16
135
Union City pg 16 Keller Williams 6
East Bay Area Sales by City
Q3 2020
$3,600,000
Alameda
Single Family Median Sales Price
Highest sale price
Q3 2019 Q3 2020
% PRICE CHANGE
Townhome/Condo Median Sales Price
Q3 2019 Q3 2020
% PRICE CHANGE
3BD
4BD
5BD+
ALL
$580,400 -
$895,500 $965,000
$1,200,000 $1,155,000
$1,400,000 $1,362,500
$1,500,000 $1,712,500
$1,156,000 $1,238,500
-
7.8%
-3.8%
-2.7%
14.2%
7.1%
$432,000 $448,500
$724,000 $722,500
$829,000 $825,000
$835,000 $1,175,000
-
$730,000 $756,000
4%
0%
0%
41%
-
4%
Highest sale price
% PRICE CHANGE
Townhome/Condo Median Sales Price % PRICE CHANGE
Q3 2019 Q3 2020
Highest price/sqft
2BD
$1,840,000
Q3 2019 Q3 2020
$1,109.01
Lowest sale price
0-1BD
Albany
Single Family Median Sales Price
$407,000
$805,000
$1,510.79
Lowest sale price
Highest price/sqft
0-1BD
2BD
3BD
4BD
5BD+
ALL
$890,000
$908,000 $1,069,000
$1,345,000 $1,305,000
$1,315,000 $1,205,000
$1,875,000 -
$1,257,500 $1,185,000
-
17.7%
-3%
-8.4%
-
-5.8%
$433,500 $480,000
$590,000 $614,000
$865,000 $868,000
-
-
$585,000 $572,500
11%
4%
0%
-
-
-2%
Keller Williams 7
East Bay Area Sales by City
Q3 2020
$4,100,000
Berkeley
Single Family Median Sales Price
Highest sale price
Q3 2019 Q3 2020
% PRICE CHANGE
Townhome/Condo Median Sales Price
Q3 2019 Q3 2020
% PRICE CHANGE
3BD
4BD
5BD+
ALL
$786,000 $855,000
$1,067,500 $1,044,750
$1,350,000 $1,449,000
$1,700,000 $1,805,000
$2,005,000 $2,140,500
$1,375,000 $1,410,000
8.8%
-2.1%
7.3%
6.2%
6.8%
%
$630,000 $658,000
$875,000 $767,000
$1,254,000 $1,051,000
$1,765,000 -
-
$875,000 $675,000
4%
-12%
-16%
-
-
-23%
Highest sale price
% PRICE CHANGE
Townhome/Condo Median Sales Price % PRICE CHANGE
Q3 2019 Q3 2020
Highest price/sqft
2BD
$1,900,000
Q3 2019 Q3 2020
$1,418.44
Lowest sale price
0-1BD
Castro Valley
Single Family Median Sales Price
$800,000
$550,000
$897
Lowest sale price
Highest price/sqft
0-1BD
2BD
3BD
4BD
5BD+
ALL
-
$650,450 $780,000
$830,000 $881,000
$1,005,000 $1,095,000
$1,200,000 $1,308,500
$886,500 $970,000
-
19.90%
6.10%
9.00%
9.00%
9.40%
$345,000
$525,000 $523,000
$827,359 $789,999
$787,000 $846,547
-
$702,500 $695,000
-
-0.40%
-4.50%
7.60%
-
-1.10%
Keller Williams 8
East Bay Area Sales by City
Q3 2020
$2,356,200
Dublin
Single Family Median Sales Price
Highest sale price
Q3 2019 Q3 2020
% PRICE CHANGE
Townhome/Condo Median Sales Price
Q3 2019 Q3 2020
% PRICE CHANGE
3BD
4BD
5BD+
ALL
-
-
$855,000 $910,000
$1,066,750 $1,131,000
$1,450,000 $1,497,500
$1,050,000 $1,136,091
-
-
6.4%
6%
3.3%
8.2%
$425,000 $472,000
$639,000 $630,000
$764,000 $821,500
$852,000 $926,000
$914,784 -
$700,000 $686,944
11%
-1%
8%
9%
-
-2%
Highest sale price
% PRICE CHANGE
Townhome/Condo Median Sales Price % PRICE CHANGE
Q3 2019 Q3 2020
Highest price/sqft
2BD
$3,200,000
Q3 2019 Q3 2020
$784.05
Lowest sale price
0-1BD
El Cerrito
Single Family Median Sales Price
$745,000
$490,000
$1,088.44
Lowest sale price
Highest price/sqft
0-1BD
2BD
3BD
4BD
5BD+
ALL
-
$805,000 $905,000
$950,000 $1,143,000
$1,180,000 $1,380,000
$815,000 $1,985,000
$925,000 $1,012,500
-
12.4%
20.3%
16.9%
143%
9.5%
-
$640,000 $640,000
$890,000 $911,106
-
-
$868,398 $857,212
-
0%
2%
-
-
-1%
Keller Williams 9
East Bay Area Sales by City
Q3 2020
$975,000
El Sobrante
Single Family Median Sales Price
Highest sale price
Q3 2019 Q3 2020
% PRICE CHANGE
Townhome/Condo Median Sales Price
Q3 2019 Q3 2020
% PRICE CHANGE
3BD
4BD
5BD+
ALL
-
$470,000 $510,000
$587,500 $652,500
$711,500 $755,000
$737,500 $665,000
$618,000 $658,000
-
8.5%
11.1%
6.1%
-9.8%
6.5%
$230,000 $239,500
$284,500 $374,500
$410,000 -
-
-
$284,500 $364,000
4.1%
31.6%
-
-
-
27.9%
Highest sale price
% PRICE CHANGE
Townhome/Condo Median Sales Price % PRICE CHANGE
Q3 2019 Q3 2020
Highest price/sqft
2BD
$800,000
Q3 2019 Q3 2020
$746.09
Lowest sale price
0-1BD
Emeryville
Single Family Median Sales Price
$330,000
$640,000
$902.93
Lowest sale price
Highest price/sqft
0-1BD
2BD
3BD
4BD
5BD+
ALL
$485,000 -
$910,000 $785,286
$1,200,000 -
$640,000
-
$910,000 $770,572
-
-13.7%
-
-
-
-15.3%
$485,000 $450,000
$810,000 $825,000
$872,500 $720,000
-
-
$606,250 $498,000
-7%
2%
-17%
-
-
-18%
Keller Williams 10
East Bay Area Sales by City
Q3 2020
$2,920,000
Fremont
Single Family Median Sales Price
Highest sale price
Q3 2019 Q3 2020
% PRICE CHANGE
Townhome/Condo Median Sales Price
Q3 2019 Q3 2020
% PRICE CHANGE
3BD
4BD
5BD+
ALL
-
$775,000 $875,061
$1,000,000 $1,130,000
$1,250,000 $1,310,000
$1,675,000 $1,880,000
$1,143,000 $1,260,000
-
12.9%
13.0%
4.8%
12.2%
10.2%
$424,000 $381,000
$588,000 $675,000
$895,000 $948,000
$995,995 $1,070,094
-
$682,500 $830,000
-10%
15%
6%
7%
-
22%
Highest sale price
% PRICE CHANGE
Townhome/Condo Median Sales Price % PRICE CHANGE
Q3 2019 Q3 2020
Highest price/sqft
2BD
$1,960,000
Q3 2019 Q3 2020
$1,146.10
Lowest sale price
0-1BD
Hayward
Single Family Median Sales Price
$730,000
$335,000
$1,039.58
Lowest sale price
Highest price/sqft
0-1BD
2BD
3BD
4BD
5BD+
ALL
$450,000 $499,000
$563,113 $630,000
$675,000 $715,000
$870,000 $908,250
$1,139,000 $1,130,000
$705,000 $760,000
10.9%
11.9%
5.9%
4.4%
-0.8%
7.8%
$393,888 $400,500
$480,000 $487,500
$587,500 $620,000
$755,000 $783,000
-
$529,500 $572,500
2%
2%
6%
4%
-
8%
Keller Williams 11
East Bay Area Sales by City
Q3 2020
$2,100,000
Livermore
Single Family Median Sales Price
Highest sale price
Q3 2019 Q3 2020
% PRICE CHANGE
Townhome/Condo Median Sales Price
Q3 2019 Q3 2020
% PRICE CHANGE
3BD
4BD
5BD+
ALL
-
$635,000 $645,000
$760,000 $810,000
$945,000 $995,000
$1,246,500 $1,265,000
$815,000 $880,000
-
1.6%
6.6%
5.3%
1.5%
8.0%
$355,000
$507,000 $600,000
$659,000 $705,000
$702,500 $737,000
-
$610,000 $680,000
-
18%
7%
5%
-
11%
Highest sale price
% PRICE CHANGE
Townhome/Condo Median Sales Price % PRICE CHANGE
Q3 2019 Q3 2020
Highest price/sqft
2BD
$1,611,000
Q3 2019 Q3 2020
$800.26
Lowest sale price
0-1BD
Newark
Single Family Median Sales Price
$538,500
$650,000
$1,121.43
Lowest sale price
Highest price/sqft
0-1BD
2BD
3BD
4BD
5BD+
ALL
-
$780,000
$875,000 $940,000
$970,000 $1,062,000
$1,369,500 $1,375,000
$930,000 $1,025,000
-
-
7.4%
9.5%
0.4%
10.2%
$420,000 -
$550,000 $574,444
$700,000 $880,000
$983,750 $990,000
-
$570,000 $855,000
-
4%
26%
1%
-
50%
Keller Williams 12
East Bay Area Sales by City
Q3 2020
$3,000,000
Oakland
Single Family Median Sales Price
Highest sale price
Q3 2019 Q3 2020
% PRICE CHANGE
Townhome/Condo Median Sales Price
Q3 2019 Q3 2020
% PRICE CHANGE
3BD
4BD
5BD+
ALL
$487,500 $420,000
$635,000 $736,500
$829,500 $922,500
$1,250,000 $1,323,010
$1,027,500 $1,372,778
$825,000 $900,000
-13.8%
16.0%
11.2%
5.8%
33.6%
9.1%
$520,000 $510,000
$700,000 $715,000
$820,000 $800,000
$875,000 $920,000
-
$650,000 $661,500
-2%
2%
-2%
5%
-
2%
Highest sale price
% PRICE CHANGE
Townhome/Condo Median Sales Price % PRICE CHANGE
Q3 2019 Q3 2020
Highest price/sqft
2BD
$5,800,000
Q3 2019 Q3 2020
$1,370.97
Lowest sale price
0-1BD
Piedmont
Single Family Median Sales Price
$225,000
$1,470,000
$1,484.98
Lowest sale price
Highest price/sqft
0-1BD
2BD
3BD
4BD
5BD+
ALL
-
$2,070,000 $1,677,000
$1,727,500 $1,925,000
$2,325,000 $2,500,000
$3,150,000 $3,775,000
$2,000,000 $2,487,500
-
-19.0%
11.4%
7.5%
19.8%
24.4%
-
-
-
-
-
-
-
-
-
-
-
-
Keller Williams 13
East Bay Area Sales by City
Q3 2020
$3,860,000
Pleasanton
Single Family Median Sales Price
Highest sale price
Q3 2019 Q3 2020
% PRICE CHANGE
Townhome/Condo Median Sales Price
Q3 2019 Q3 2020
% PRICE CHANGE
3BD
4BD
5BD+
ALL
-
$849,000 $871,000
$972,500 $1,060,000
$1,222,500 $1,310,000
$1,630,000 $2,200,000
$1,210,000 $1,270,000
-
2.6%
9.0%
7.2%
35.0%
5.0%
$395,000 $431,500
$577,000 $632,000
$790,000 $826,000
$750,000 $910,000
-
$650,000 $700,000
9%
10%
5%
21%
-
8%
Highest sale price
% PRICE CHANGE
Townhome/Condo Median Sales Price % PRICE CHANGE
Q3 2019 Q3 2020
Highest price/sqft
2BD
$1,550,000
Q3 2019 Q3 2020
$1,178.13
Lowest sale price
0-1BD
Richmond
Single Family Median Sales Price
$789,000
$220,000
$1,211.45
Lowest sale price
Highest price/sqft
0-1BD
2BD
3BD
4BD
5BD+
ALL
$445,000 $399,000
$525,000 $549,000
$550,000 $595,000
$620,000 $707,500
$765,000 $805,000
$575,000 $620,000
-10.3%
4.6%
8.2%
14.1%
5.2%
7.8%
$408,500 $402,000
$520,000 $485,000
$672,000 $631,622
$755,000
-
$511,750 $480,000
-2%
-7%
-6%
-
-
-6%
Keller Williams 14
East Bay Area Sales by City
Q3 2020
$1,390,000
San Leandro
Single Family Median Sales Price
Highest sale price
Q3 2019 Q3 2020
% PRICE CHANGE
Townhome/Condo Median Sales Price
Q3 2019 Q3 2020
% PRICE CHANGE
3BD
4BD
5BD+
ALL
$444,250 -
$660,000 $680,444
$716,000 $750,000
$860,000 $910,000
$868,000 $1,075,000
$725,000 $768,000
-
3.1%
4.7%
5.8%
23.8%
5.9%
$330,000
$442,500 $449,000
$520,500 $555,000
$765,972 $653,000
-
$479,675 $490,500
-
1%
7%
-15%
-
2%
Highest sale price
% PRICE CHANGE
Townhome/Condo Median Sales Price % PRICE CHANGE
Q3 2019 Q3 2020
Highest price/sqft
2BD
$988,888
Q3 2019 Q3 2020
$937.25
Lowest sale price
0-1BD
San Lorenzo
Single Family Median Sales Price
$529,000
$585,000
$740.78
Lowest sale price
Highest price/sqft
0-1BD
2BD
3BD
4BD
5BD+
ALL
-
$590,000 $643,000
$680,888 $722,500
$714,500 $782,500
$725,000 $988,888
$685,000 $725,000
-
9.0%
6.1%
9.5%
36.4%
5.8%
-
$440,500
$705,000
-
-
$467,500
-
-
-
-
-
-
Keller Williams 15
East Bay Area Sales by City
Q3 2020
$775,000
San Pablo
Single Family Median Sales Price
Highest sale price
Q3 2019 Q3 2020
% PRICE CHANGE
Townhome/Condo Median Sales Price
Q3 2019 Q3 2020
% PRICE CHANGE
3BD
4BD
5BD+
ALL
$200,000
$465,000 $395,000
$525,000 $520,000
$550,000 $615,000
$570,500 $535,000
$525,000 $520,000
-
-15.1%
-1.0%
11.8%
-6.2%
-1.0%
$199,000 -
$335,000 $344,500
$435,000 $503,500
$528,000 -
-
$429,000 $362,500
-
3%
16%
-
-
-16%
Highest sale price
% PRICE CHANGE
Townhome/Condo Median Sales Price % PRICE CHANGE
Q3 2019 Q3 2020
Highest price/sqft
2BD
$1,900,000
Q3 2019 Q3 2020
$628.67
Lowest sale price
0-1BD
Union City
Single Family Median Sales Price
$187,000
$640,000
$962.41
Lowest sale price
Highest price/sqft
0-1BD
2BD
3BD
4BD
5BD+
ALL
-
$749,000 $640,000
$789,500 $905,000
$944,000 $1,060,000
$1,060,000 $1,298,000
$900,000 $1,050,000
-
-14.6%
14.6%
12.3%
22.5%
16.7%
$410,000 -
$475,000 $492,500
$695,900 $622,500
$635,000 $700,000
-
$580,000 $595,000
-
4%
-11%
10%
-
3%
Keller Williams 16
Team of Success & Excellence Being an independently owned and operated franchise of Keller Williams. Keller Williams unparalleled team consists of more than 160 associates and professionals strategically located in Oakland, Alameda, and Castro Valley. Under the same ownership, we have sister offices located in San Francisco, Burlingame, San Mateo, and Half Moon Bay respectfully KW San Francisco, KW Peninsula Estates, KW San Mateo, and KW Coastside. With uncompromising principles, Keller Williams has established a new standard of excellence within the industry. The company’s growth has been strategic and exciting. Since its inception half way through 2016, the team has successfully represented more than 2,100 transactions, totaling more than $1.8 billion in total sales. Dedicated to upholding unparalleled standards for integrity and client care, they strive to create a culture where agents thrive while developing their own businesses to their maximum potential. The company has given their agents over $600,000 in profit share.
510.775.1079 4937 Telegraph Ave. Suite A, Oakland, CA 94609 2437 Santa Clara Ave, Alameda, CA 94609 20273 Patio Drive, Castro Valley, CA 94546
All rights reserved. This information may not be copied, used, or distributed without Keller Williams consent. Data is pulled from Bridge MLS and Broker Metrics. While information is believed true, no guarantee is made of accuracy. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by Keller Williams or MLS.
Each Office Is Independently Owned and Operated. Equal Housing Opportunity. DRE#02029039
Market report prepared by Jim Haas, Annie O’Kelly, and Tina Jones
510.775.1079 4937 Telegraph Ave. Suite A, Oakland, CA 94609 2437 Santa Clara Ave, Alameda, CA 94609 20273 Patio Drive, Castro Valley, CA 94546