Tri-Valley & South Alameda County Real Estate
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Strong Finish to 2020 & Heated Start to 2021
February 2021 Report
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Our January report focused mostly on 2020’s annual statistics. This report will put most of its attention on quarterly and monthly indicators, which better illustrate changes occurring as 2020 progressed and 2021 began: pre-pandemic to initial pandemic crash through the subsequent market recovery.
In January, the overall number of listings for sale was down year-over-year, but new listing activity started to pick up after the typical annual low hit in December - the number of new listings was well up from January 2020. Sales volume in January soared 47% on a year-over-year basis.
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Around the Bay Area, the condo markets have generally been somewhat softer than that for houses.
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The table below reflects market statistics and values for Q4 2020 only, which will often be different than those for the full year 2020.
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Active listings and new listings coming on market: The relatively low level of inventory has been a major factor in the market, but the number of new listings coming on market in December and January was significantly higher on a year-over-year basis.
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Month by month, year-over-year comparison of home sales volumes - illustrating the initial pandemic crash in activity followed by the market rebound that saw sales climb far above the levels of the previous year. Sales volume in January was up about 47% from January 2020, a very large increase.
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The next chart compares the year-over-year changes in sales for Alameda County homes selling for over and under $2 million. Sales in the higher price segment saw a substantial increase, while sales under $2 million saw a small decline. Neither statistic does justice to the rapid acceleration in market activity occurring in the second half of the year. The big jump in high-price home sales was a common dynamic around most of the Bay Area.
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The 3 classic market indicators following all tell the same story of a market heating up very dramatically in the second half of 2020.
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Two of the factors behind the housing market recovery were the dramatic drop in interest rates and the significant rebound in the stock market.
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© Compass 2021 ¦ All Rights Reserved by Compass ¦ Made in NYC
Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity.
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