Buy.Sell.Stay. February 2016 Market Report East Bay Berkeley, Danville, Dublin, Fremont, Hayward, Livermore, Newark, Oakland, Pleasanton, San Ramon, San Leandro, Union City
2016 Intero Real Estate Services Inc., a Berkshire Hathaway affiliate and a wholly owned subsidiary of HomeServices of America, Inc. All rights reserved. Data provided by Trendgraphix February 2016.. All information deemed reliable but not guaranteed. This is not intended as a solicitation if you are listed with another broker.
Executive Insights Home Sales Trend Upward The health of financial markets and a lack of inventory continue to be the biggest drivers of the Bay Area housing market. And with the stock market starting off the year strong, we’re also feeling a strong housing market here, with the expected seasonal slowing that often comes with the beginning of the year. “The tempo of the Bay Area housing market is tied very closely to the financial markets,” said Tom Tognoli, President and CEO of Intero Real Estate. “So much of the Bay Area’s wealth is tied up in stock options and stock purchase plans. As the financial markets go, people’s attitudes and pocket books tend to follow.” Many have been talking about the high-end of the housing market cooling off, which we’ve seen a bit. But that doesn’t mean no one’s in the market for high-end luxury homes. “Just last week, we sold a home in Atherton for over $8.5 million that was on the market for less than a week.” So it’s not a totally chilled market by any means. It’s still very much a seller’s market in the Bay Area. And while a lack of inventory continues to be a major challenge for buyers that usually means a quicker sale at a great price for sellers, those who are selling to move up are also finding it frustrating. The good news is the number of active listings increased at the state level for the first time in five months in January, and the Bay Area was part of the trend with an 8% increase in homes for sale compared to the previous month. “The fundamentals underlying the demand for housing fueled a healthy start to 2016,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. But she, along with other economists, continues to watch overall economic trends such as volatility in the equity market, that can potentially lead buyers and sellers to hold back and take a “wait-and-see” approach. So the market is starting strong, but with lack of homes and the uncertainty of an election year, we could see some slower growth. We like to watch the housing market numbers month to month because we always see noticeable changes that help our agents assess pricing and bidding strategies. Let’s take a look at the important numbers broken down into categories that are easy to understand. This will help you get clear on what’s happening in your market that can impact your home sale or purchase.
Market Highlights East Bay
Total Homes for Sale
764
Luxury Homes for Sale*
19
*Homes for sale above $3 million.
Total Homes Sold
Average Days on Market
Average List Price
Average Sold Price
458 $1,045,000
32
$801,000
Inventory East Bay
Total Number Of Homes:
For Sale
Sold
924
905 15-Oct
458
482
521
630
764
764 771
915
1130
1282
1257
1232 1190
1023 15-Sep
511
600 499
400
507
600
752
768
800
826 798
928 963
1000
1055 1017
1200
1145 1174
1400
200 0 14-Dec
15-Jan
15-Feb
15-Mar
15-Apr
15-May
15-Jun
15-Jul
15-Aug
15-Nov
15-Dec
16-Jan
16-Feb
Inventory By The Numbers Home Price Range
Homes For Sale
Year Over Year % Difference
< $500K
151
-24%
$500K $1M
353
2%
$1M - $3M
245
30%
$3M - $5M
15
15%
$5M - $10M
5
0%
$10M +
0
-100%
Pricing East Bay
Average Prices in $,000:
For Sale Price
Sold Price
1200 $1,003
1000
$985
$963
800
$1,000
$836 $758
$722
$1,048
$872
$1,070 $1,059
$875
$878
$1,027
$888
$996
$853
$1,010 $1,011
$983
$995
$1,016
$831
$816
$827
$825
$840
15-Sep
15-Oct
15-Nov
15-Dec
16-Jan
$763
$1,045
$801
600
400
200 14-Dec
15-Jan
15-Feb
15-Mar
15-Apr
15-May
15-Jun
15-Jul
15-Aug
16-Feb
0
Pricing By The Numbers
Average Price Per Square Foot.
$440
-2.2% Month over Month
On The Market East Bay
Average Days On Market 45
41
40 35 35
31
31
32
31 28
30 25 25
21
21
15-Apr
15-May
20
20
21
27
23
20 15 10 14-Dec
15-Jan
15-Feb
15-Mar
15-Jun
15-Jul
15-Aug
15-Sep
15-Oct
15-Nov
15-Dec
16-Jan
16-Feb
5 0
DOM By The Numbers Home Price Range
Days on Market
Year Over Year % Difference
< $500K
43
-2%
$500K $1M
29
16%
$1M - $3M
26
-13%
$3M - $5M
0
-100%
$5M - $10M
0
NA
$10M +
0
0%