Local Real Estate Market Update – Oakland Berkeley East Bay Area

Local Real Estate Market Update

Want to know what’s happening here in our local Oakland Berkeley East Bay Area Real Estate Market? I get asked this question often! Is now a good time to sell in Berkeley California or Oakland California. I also get asked if we are we going to see a crash, and what should people do with their home? It can be so confusing.. ESPECIALLY LATELY…. with the constant changes in the market to know what the best decision for your family will be. Hi, I’m Tanja Odzak, Our East Bay Home brokered by eXp Realty.

And I totally understand, I’m in the industry and I am here to help you navigate this market. when answering these questions it’s always a good idea to look at the data and what’s happening in the market so that you can make an educated decision. So let’s see what the market looks like here locally. Is it a good time to sell here in Berkeley California or Oakland California? Well, let’s look at what’s happening right now. In Berkeley, we currently at the time of this video we have 70 single family homes that are active for sale. The median time to sell is only 14 days, with 48 single family homes selling over the past month. Now you may be wondering if it’s a good time to sell in Oakland California. In Oakland, we have 430 active single family homes on the market. The median time to sell is 15 days, and thus far 197 single family homes were sold. So here in the Oakland Berkeley East Bay Area we still have very low inventory and we still have strong buyer demand. However, the market is very volatile right now, we are currently seeing more homes on the market than in recent months, and we aren’t seeing as many offers on homes, or offered as quickly, as we were seeing just a few weeks ago and also, homes aren’t being bid up as high and buyers are not willing to remove contingencies as much as they were. It’s still a good time to sell because interest rates are expected to continue to go up and that is the reason for the sudden shift in the market. If you’re thinking of selling now would be a good time before they continue to go up even more because remember, as interest rates increase, buyers have less buying power and will have to purchase a home that is less expensive to make up for the difference in interest rates increasing. Feel free to reach out to us at no cost or risk for a hassle-free strategy session.

And ask me about my tiered home selling plans where you get to pick which real estate services you want and the fee you pa, offering you simplified and transparent choices! Tanja Odzak, Our East Bay Home brokered by eXp Realty and I’m always 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. 

Why not check out one of my no-obligation, online, On-Demand, virtual Real Estate Seminars?

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