San Francisco East Bay Area – Real Estate Market Update 10 August 2022
Market Update for the San Francisco East Bay Area. This is for Berkeley, Oakland, Piedmont, Lamorinda for the week of August 10th, 2022. This is Tanja Odzak with eXp so let’s talk about it.
Number of active homes for sale is kind of stable since last week; there hasn’t been much of a difference that’s kind of across the board. You know every year after school gets out within a couple weeks there’s usually an uptick in the number of homes for sale. People don’t really want to put their house on the market like right when the kid is finishing school. There’s also kind of a dipper on the Fourth of July. It makes sense people are taking off for like the long holiday weekend. They would for whatever reason, they’re not going on the market on the 4th of July and when I look at the number of homes that went pending, there has been an uptick in the number of homes that have gone pending. Also, I heard from my lender that they have also seen an uptick in the number of homes that went into contract over the past week. So, there’s a talk that all the discouraged buyers that were out there are now back in the market. It’s still true that the median days on market has still gone up. Maybe only Berkeley really hasn’t much of a difference. But median days on market has gone up. Meaning that it is still taking longer to sell. Not sure if you saw my national update but just on a national level inventory has kind of gone up a little too.
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I’m a Top Producing Realtor® in the OAKLAND / BERKELEY / EAST BAY AREA. I’ve been in the San Francisco East Bay Area since I came up to do my undergrad at UC Berkeley (a long time ago!), with a short stint at UC Davis while getting my Master’s. I take my duties as a Realtor® and Fiduciary very seriously, I enjoy educating my sellers and buyers along the way. Putting People, Before Profit.
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