This is your weekly market update for the San Francisco East Bay Area. This is for Berkeley, Oakland, Piedmont and Lamorinda for the week of June 15th 2022. This is Tanja Odzak with eXp and before we get into it, let’s talk about those interest rates because the Fed just hiked up interest rates today by three quarters of a point or three quarters of a percent. Everyone expected them to go up by half a percentage point but instead, they did it by three quarters of a percentage point. The current thought out there is that that should stabilize mortgage interest rates. So, hopefully that is the case because it sure would be nice for that to be stable. We still are at peak inventory. We are higher this week from San Francisco through the East Bay from Alameda, Oakland all the way out to Danville, Walnut Creek, Alamo. We’re still at peak inventory. In some places kind of the same as last week, but in some places even higher.
- Berkeley has 58 single family homes for sale on the market right now. 54 are pending and that is 1.1 months worth of inventory. Last week 17 were sold within a median of 13 days on market. Average sold price was $1,919, 000. There are 20 condos for sale on the market right now and 11 are pending. That’s 1.8 month of worth of inventory. Last week 3 were sold within a median of 8 days on market. Average price was $1,140,000.
- Oakland has 394 single-family homes for sale on the market right now. 242 are pending. That is only 1.6 months worth of inventory. Still low, still a seller’s market. Last week, 55 were sold within a median days on market of 12. Average sold price was $1,339,000. There are 166 condos for sale in Oakland. 67 are pending. That is 2.5 months worth of inventory. Last week, 16 were sold within a median of 17 days on market for an average price of $665,000.
- Piedmont has 24 homes for sale on the market right now. 9 are pending.That’s 2.7 months worth of inventory. Last week, 3 were sold within a median of 11 days on market for an average sold price of $3,517,000.
- Lamorinda 80 single family homes for sale on the market right now. 54 are pending. That is only 1.5 worth of inventory. Last week 13 were sold within a median of 7 days on the market. Average sold price was $2,300,000.
So if you have any questions about any of this, you want to know about your city and your neighborhood or if you want to talk to me about buying or selling and how do these numbers like what do they mean for you, send me a text.
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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