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 May 18th, 2022. This is Tanja Odzak with eXp Realty and let’s get into it.
So inventory has been creeping up as far as interest rates possibly slowing down the market. There are little hints here and there. Maybe certain price points. Maybe certain areas where that is true but that is nothing that’s across the board. The market is still hot.
- So Berkeley currently had 76 to accessing family home for sale on the market, 53 are pending, that is 1.4 months worth of inventory. Last week, 15 were sold within a median of 12 days on the market. Average sold price for last week was $2,379,000. For condos, Berkeley has 13 on the market, 11 are pending, that is 1.1 months worth of inventory. Last week, 2 were sold within a median of 26 days on the market. Average sold price for last week was $955,000.
- For Oakland, there are 312 active single family homes for sale, 279 are pending and that is 1.1 months worth of inventory. The average sold price for last week was $1,297,000. For condos, Oakland has 131 that are currently on the market, 84 are pending and that is 1.6 months worth of inventory. Last week 20 were sold within a median of 13 days on the marketing and the average sold price for last week was $789,000.
- For Piedmont, there are currently 16 homes for sale on the market, 17 are pending and that is 0.9 months worth of inventory. Last week, 2 were sold within a median of 11 days on the market and the average sold price for last week was $4,019,000.
- For Lamorinda, there are currently 65 active single family homes for sale on the market right now, 83 are pending and that is 0.8 of months worth of inventory. Last week 23 were sold within a median days of market of 8 and the average sold price for last week was $2,717,000. For condos, Lamorinda has 14 active and 16 pending. That is 0.9 month’s worth of inventory. Last week, 3 were sold within a median of 7 days on the market and average sold price for last week was a $965,000.
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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