REAL ESTATE MARKET PREDICTION January 2021 Market Trend: Oakland Berkeley Alameda San Leandro

REAL ESTATE MARKET PREDICTION January 2021 Market Trend: Oakland Berkeley Alameda San Leandro

hey it’s Tanja with your monthly trends

report for january of 2021.

so what happened in january of 2021 so

when we compare this past january to

january of

2020 we can see that the number of homes

listed for sale right so this is the

inventory on the market

in oakland and berkeley were both up by

about 33

san leandro really wasn’t much of a

change from last year at 4.2 percent

and alameda was actually up

significantly at 48

um for oakland and berkeley what really

wasn’t much of a change

when we compare january to this past

december but san leandro was up

by 25 and alameda was up by 17

so what does this mean really because we

need to put this in context

of you know how many months worth of

inventory is this because months worth

of inventory

is how we gauge the health of a market

so if you have

generally five months or less worth of

inventories considered a seller’s market

and if you have seven months or more is

considered a buyer’s market

well oakland and alameda are both at 1.1

months worth of inventory berkeley is at 1.3

and san leandro is at 0.6 months worth

of inventory so these

are strongly sellers markets and i can

tell you that that is

absolutely true because the number of

homes for sale on the market

it’s still very low and there are so

many buyers

out there right now so houses are

getting scooped up

pretty quickly um it is worth mentioning

that you know not all the houses

um that are on the market are the same

level of hotness

you know there’s always some house

that’s you know a little bit funky

maybe it needs a lot of work location

all those play

an important role in you know how fast

and how much

a house will sell for also you know

don’t underestimate the ability

of an agent to sell your house you know

an agent with less skills and experience

can also play into a house taking longer

to sell

so average sold price for oakland

when we compare this january to january

of 2020

was up by 23 berkeley there wasn’t much

of a change at just like a three

percent change san leandro was up by 13

and alameda was up by 12

so i just wanted to also put a little

bit of context

in with this from um the real estate

industry experts and their predictions

for the 2021

year um so core logic their chief

economists

predict that home prices will continue

to go up but not as quickly as what

we’ve seen corelogic is actually really

cool

because they predict they make their

predictions based on data and facts

and not the news so according to

corelogic they expect a continued growth

in appreciation during the first half

of 2021 but they feel that it may

slow down a bit for the second half of

the year

so if you want to talk to me about

selling or buying your home and you have

questions about what does this mean for

you and your situation

feel free to reach out to me my contact

information is

in the comments below otherwise give me

a like subscribe to my channel and tap

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