East Bay - Weekly Market Report: JAN 31 - FEB 6, 2024
Check out this JAN 31 - FEB 6, 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
The Castro Valley real estate market shows a relatively low level of active listings, indicating a tighter market that may favor sellers. The number of new listings is modest, suggesting that inventory isn't rapidly increasing. The median sold price is notable, reflecting a strong market demand for properties in this area. The median days on the market are relatively short, indicating that properties are selling quickly, a sign of a competitive market. The small number of price changes suggests stable prices, further indicating a seller's market.
Danville's market is characterized by a higher number of active listings compared to Castro Valley, indicating a slightly more balanced market. The number of new listings and properties sold suggests a healthy turnover rate. The median sold price is significantly higher than in other cities, highlighting Danville's position in a higher-end market. The very short median days on the market, combined with a lack of price changes, suggest a strong demand for properties and a competitive market environment.
Dublin presents a market with a moderate number of active listings. The relatively high number of new listings compared to properties sold indicates an influx of inventory, which could offer more options for buyers. The median sold price is on the lower end compared to neighboring cities, possibly making it more accessible to a broader range of buyers. The quick turnover, as evidenced by short median days on the market, indicates a competitive market, albeit with stable pricing.
Hayward has the highest number of active listings, suggesting a more buyer-friendly market with more options available. The balanced number of new listings and properties sold indicates steady market activity. The median sold price is the lowest among the cities analyzed, potentially offering the most affordable entry point into the real estate market. The very short median days on the market, despite the higher inventory, suggest that well-priced properties are quickly being snapped up by buyers.
Livermore's real estate market shows a moderate level of active listings, with a relatively low number of new listings, indicating that the market isn't rapidly expanding. The median sold price is higher, suggesting a strong market for sellers. The very short median days on the market indicate a highly competitive market, with properties selling quickly. The market dynamics suggest a stable demand, supported by the increase in pending sales.
Pleasanton presents a market with fewer active listings, indicating a tighter market. The low number of new listings compared to properties sold suggests a competitive market with limited inventory. The median sold price is high, reflecting strong market demand and Pleasanton's appeal to buyers. The longer median days on the market, compared to other cities, might indicate a market where buyers take more time to make decisions, potentially due to the higher price points.
San Ramon's market is characterized by a moderate number of active listings and a high number of new listings, indicating a market with growing inventory. The number of properties sold is lower compared to the influx of new listings, suggesting a slightly slower turnover. The median sold price aligns with several other cities, indicating a stable market. The short median days on the market, along with a few price changes, suggest that while the market is competitive, there is room for negotiation.
The overall trends across these cities suggest a generally healthy and competitive real estate market, with variations between more and less affordable options. Cities like Danville and Pleasanton demonstrate strong demand and higher price points, indicating a market that favors sellers. In contrast, cities like Hayward offer more affordable options and a slightly more buyer-friendly environment. The relatively short median days on the market across most cities indicate a brisk pace of sales, reflecting ongoing strong demand. Price stability, with few changes across most markets, suggests that while competition is strong, there is not significant upward pressure on prices at the moment. This balanced dynamic offers opportunities for both buyers and sellers, depending on the specific market conditions in each city.
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