Glen’s Latest East Bay Housing Numbers
Here’s a snapshot of the San Francisco East Bay Real Estate Market. I run these numbers monthly and have been tracking 38 cities since 2005. The spreadsheet indicates that inventories are still decreasing and are now at their lowest levels since I began this process (May 2005).
DOM (Days on Market) is decreasing, months supply in most areas have reached lows, and the relationship between what, on average, homes are selling for to list price support this. We’re seeing properties in many areas getting multiple offers and actually now, on average, selling at or above the average list price.
Areas that were hit hardest last year due to high inventories and downward pressure on prices due to the high number of distressed properties on the market, are now starting to see some recovery, especially in the lower priced areas. Examples would be in East Contra Costa along highway 4, (Pittsburg, Antioch, Brentwood, even Concord). More recently, in West Contra Costa in the San Pablo, Richmond, Pinole, Hercules areas).
Pendings have increased dramatically. However, this is due in part to longer escrow periods and a larger number of short sale transactions.
Call me if you’d like to chat more in depth about the San Francisco East Bay market.
-Glen 510-333-4460
Like This Post? Get More East Bay News In Your Inbox!
Never miss important East Bay real estate news or changing market conditions!
Subscribe via RSS or email delivery!
Equal Housing Opportunity. Equal Opportunity Employer.