East Bay - Weekly Market Report: JAN 3 - 9, 2024
Check out this JAN 3 - 9, 2024 market report! Get the best insights on when to place a plan for your new home with this weekly market guide in East Bay.
📍 Castro Valley 📍 Danville 📍 Dublin 📍 Hayward
📍 Livermore 📍 Pleasanton 📍 San Ramon
- Market Characterization: The Castro Valley market shows a relatively low number of active listings, indicating a tighter market. However, the median days on the market are significantly higher, suggesting properties are not moving quickly. This could be due to the high median sold price, possibly limiting buyer interest.
- Trend Analysis: The high median sold price coupled with the extended time on market suggests a buyer's market, where buyers may have more leverage in negotiations.
- Market Characterization: Danville's real estate market is more dynamic, with a moderate number of listings and a relatively quick median sale time. This indicates a healthy demand for properties. The median sold price is high but more affordable compared to Castro Valley.
- Trend Analysis: The balance between supply and demand, along with a reasonable median sale time, points towards a stable market that is attractive to both buyers and sellers.
- Market Characterization: Dublin shows the lowest active listings, indicating a very tight market. However, properties move quickly as evidenced by the low median days on the market. The median sold price is high but seems to be well-received in the market.
- Trend Analysis: The quick sale time despite high prices suggests a seller's market, where demand outpaces supply.
- Market Characterization: Hayward presents the highest number of active listings, indicating a more saturated market. However, a significant number of sales and a reasonable median sale time imply good market movement. The median sold price is considerably lower than other cities, potentially driving higher sales volume.
- Trend Analysis: This market seems balanced, with a high volume of listings and sales, making it attractive for a broader range of buyers and sellers.
- Market Characterization: Livermore's real estate market is moderately active with a moderate number of listings and a median sale time indicating a steady market. The median sold price is on the higher side, which aligns with the general trend in the area.
- Trend Analysis: The market appears stable, with a balanced interest from both buyers and sellers, albeit leaning slightly towards a seller's market due to the higher price points.
- Market Characterization: Pleasanton's market is characterized by a relatively low number of active listings and a median sale time indicating a demand for properties. The median sold price is high, reflecting the desirability of the area.
- Trend Analysis: The market dynamics suggest a seller's market, where properties are in demand and can command higher prices.
- Market Characterization: San Ramon has a relatively high number of active listings with a median sale time longer than some neighboring areas. The median sold price is high but not the highest in the region.
- Trend Analysis: The market is slightly leaning towards a buyer's market with more options available and slightly longer sale times.
Overall Market Analysis
- Trend Synthesis: The overall trend in these cities shows a healthy real estate market with variations from city to city. Higher median sold prices are a common theme, indicating a generally affluent market. However, the median days on the market vary significantly, reflecting different local dynamics.
- Key Insight: Buyers and sellers must consider local trends in each city. While some areas show a seller's market with quick sales and high prices, others offer more opportunities for negotiation, favoring buyers. The overall market is robust but requires nuanced understanding for effective real estate transactions.
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