A 2021 REAL ESTATE MARKET CRASH?! 2020 Housing Market Update: Oakland Berkeley San Leandro Alameda – December

A 2021 REAL ESTATE MARKET CRASH?! DEC 2020 Market Trends: Oakland Berkeley San Leandro Alameda

December 2020

Hey, it’s Tanja with your monthly trends

report for december of 2020.

the number of homes listed for sale

in oakland berkeley san leandro and alameda

was up this december as compared to december of 2019

oakland was up by 56 percent

berkeley was up by 233

san leandro just 11… this is just two

houses so it’s probably not really significant

alameda was up by 222 percent

while this was up from the previous year

was actually down from november

so the month’s worth of inventory (this is

how we gauge the health

of a real estate market) so it all points

to it being a pretty hot seller’s market

everything was under one month worth of inventory

the important thing to note about this

is that even when you are in a hot market

not all homes are the same level of “hotness”

certainly location and condition play a

huge role

in you know… upping that average sold

price for a home,

but do not underestimate the ability of

your realtor to market your home

some of us are marketing and work like

we’re in 2020 and 2021 …

and some realtors out there are still

selling homes the same way

that was done in the 90s so with that

being said average sold price

for december year over year it was up

oakland was up by about five percent

berkeley up 13

san leandro up 21

alameda up 8

and there really wasn’t much of a

difference when compared to november

of 2020. so overall this is very consistent with the

way the market is in december this is

usually when the market is at its

slowest

however there’s houses still being sold

and prices are still up

year over year.

ONE of the biggest

questions that people have

out there is with all this coronavirus/covid stuff that’s happening, is the real

estate market going to crash?

so let’s see what the real estate

industry experts have to say about that

lawrence yen who is the chief economist

of the national association of realtors

has stated that this winter may be one

of the best winters for sales activity

and on a winter to winter comparison

this could be one of the best breakout

years just based on the fact that

pending contracts

are at such a higher level danielle hale

who is the chief economist

realtor.com states we expect home sales

in 2021 to come in

seven percent above 2020 levels and also

all major service providers like fannie

mae the mortgage brokers

bankers association and more are also

predicting um uh increase in home prices

in 2021 so the outlook there is very positive

you know i have heard from some buyers

that they are waiting for the market to crash

before they buy that home they may be

waiting for a very long time

and if you are thinking about buying you

are better off based on this information

buying earlier in the year than later in

the year after when prices have already gone up

a few other things that are probably

going to color the way the year goes

is prop 19 that first part that relates

to second homes and needing to have that

step up in basis

that part kicks in on february 16th so

that may or may not loosen up a few

people’s second homes by you know them

putting them on the market

on april 19th the second part of prop 19

kicks in which is the part that relates

to victims of natural disaster

the disabled and people who are 55 years or older

and their ability to now transfer their

tax base up to three times before it was

just once but now it’s going to be three times

also a lot of stuff is just going to

depend on what happens with coronavirus

and that vaccine distribution

so if you have any questions about any

of this feel free to comment below

shoot me a text send me an email my

contact information is all below

here and if you would like a market

trends report specific to your city

the request link is also below shoot me

a text send me an email

you know where to find me!

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