East Bay - Weekly Market Report: NOV 8 - 14, 2023
Check out this NOV 8 - 14, 2023 market report! Get the best insights on when to place a plan for your new home with this weekly market guide in East Bay.
📍 Hayward 📍 Castro Valley 📍 Dublin 📍 Pleasanton
📍 San Ramon 📍 Livermore 📍 Danville
Hayward presents a more accessible market with the highest number of active listings (82) among the cities listed, paired with the lowest median sold price at $852,500. This combination could be attracting a broader range of buyers, including first-time homeowners and investors looking for more affordable options. The market here shows a reasonable balance between new listings (5) and sold properties (14), indicating a steady flow in the market. The median days on the market stand at 8, suggesting that properties, once listed, are attracting buyers relatively quickly. This could be due to the affordability factor playing a significant role in buyer decisions.
In Castro Valley, the real estate market appears quite competitive, with only 21 active listings, which is relatively low. This scarcity might be driving the demand, as reflected in the median sold price of $1,068,888. Despite the higher price point, homes don't stay on the market for long, with a median of 13 days before being sold. This indicates a healthy turnover and a consistent buyer interest. The balance between new listings (1) and sold properties (5) further underscores this trend. An interesting aspect to note is the number of price changes (6), suggesting some level of price adjustments happening in the market, potentially to align with buyer expectations or market trends.
Dublin's real estate market is notable for its brisk pace, with the lowest median days on the market at just 5 days. This rapid turnover rate, coupled with a healthy median sold price of $1,420,000, suggests a market with strong demand and efficient sales processes. The balance in the number of new listings (1) and sold properties (5) indicates a market where new inventory is quickly absorbed. However, the low number of all pending properties (3) compared to the number of active listings (24) might suggest a slight mismatch in supply and demand, or possibly a recent surge in new listings.
Pleasanton's real estate market shows healthy activity, as indicated by the balance between new listings (3), all sold (9), and all pending (8) properties. This suggests a well-functioning market with a continuous cycle of listings and sales. The median sold price in Pleasanton stands at $1,250,000, reflective of a moderately high-end market. Properties here are selling at a fairly quick pace, with a median of 9 days on the market, pointing towards a strong buyer interest and a market favorable to sellers. The number of price changes (2) is relatively low, which could indicate that properties are priced appropriately to meet market expectations.
San Ramon's market is robust, as seen in the relatively high number of new listings (8) compared to its active listings (44). This suggests a dynamic market with a good influx of new properties. The median sold price is $1,400,000, placing it in the higher-end market segment. Properties in San Ramon are also selling quickly, with a median of 7 days on the market, indicating a strong demand and an efficient sales process. The balance between all sold (7) and all pending (9) listings shows ongoing market activity, and the number of price changes (4) could suggest some level of negotiation or adjustment in pricing, aligning with market trends or buyer expectations.
Livermore's market is characterized by a good balance between active (48) and new listings (6), indicating a steady supply of properties. With a median sold price of $1,230,000 and a median of 12 days on the market, the city's real estate market appears both active and competitive. The number of price changes (4) suggests some negotiation or adjustment in pricing strategies, possibly in response to market demands or buyer expectations. The nearly equal number of all sold (11) and all pending (11) listings further indicates a consistent market movement, with new listings replacing the sold ones at a healthy pace.
Danville's real estate market differentiates itself with a significantly higher median sold price of $1,800,000, indicating a more upscale or luxury market segment. The city has a moderate level of activity with 49 active listings and 7 new listings, showing a good influx of new properties. The market here seems to be quite dynamic and possibly favorable for sellers, as evidenced by the quick median sale time of only 8 days. The absence of price changes implies a stable market where listings are likely priced accurately from the outset, meeting buyer expectations. The balance between all sold (9) and all pending (5) listings further highlights a steady, ongoing market activity.
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