Hi this is your weekly market update for the San Francisco East Bay Area for Berkeley, Oakland, Piedmont and Lamorinda. This is Tanja Odzak with eXp Realty and this is for the week of January 12, 2022 and let’s get it started.
- Berkeley has 14 active homes for sale on the market, 24 are pending, that is six tenths of a month worth of inventory. Last week five homes were sold within a median days on market of 15 days. Average sales price was $2.243 million dollars. For condos and townhouses, there’s 13 on the market in Berkeley, 3 are pending, so that’s 4.3 months worth of inventory. Last week 1 was sold in 10 days for $299,000.
- Oakland has 164 single family homes for sale on the market right now. There’s 156 that are pending, that’s 1.1 months worth of inventory. Last week 40 were sold within a median days on market of 23 days. The average sales price for last week was $1.125 million dollars. For condos and townhouses in Oakland, there’s 100 on the market, 62 are pending and that’s 1.6 months worth of inventory. Last week 13 were sold within a median days on market of 42 days. Average sales price was $723,000
- Piedmont there’s 3 on the market, 1 is pending so that’s three months worth of inventory. 1 was sold last week in 35 days for $4,300, 000.
- For Lamorinda, homes for sale on the market right now are 17, there are 26 pending. That is seven tenths of a month worth of inventory. Last week, 6 were sold within a median days on market of 7 and average sales price for last week was $2.142 million. For condos and townhouses, 5 are on the market, 3 are pending, that’s 1.7 months of inventory. None were sold last week.
So, just a reminder, what is a and what is a ? We are in a seller’s market. So, anytime when I’m talking about these months worth of inventory, if it is less than six that means it is a seller’s market. If it’s more than six, then it’s a buyer’s market, but that’s kind of like the cut off point. Um but it is hot out
I also did a recap of the forecast for California for 2022 and it’s a two video series.
If you have any questions or you want to reach out to me for another area or city or neighborhood, feel free. I am here to help.
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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