Tri-Valley & South Alameda County November 2020 Report


Tri-Valley & South Alameda County Real Estate 

November 2020 Report Including a Focus on City Markets

The long-term median sales price chart below is similar to those for counties around the Bay Area - a significant spike in median house prices since the pandemic struck in early spring. 

As mentioned before, recent jumps in median sales prices have been driven not only by appreciation in fair market values, but by increases in expensive home sales. Affluent buyers have made up a significantly larger percentage of Bay Area home purchases since the pandemic hit. 

Trends in Supply & Demand

The market typically starts a big slowdown in mid-November, running through the mid-winter holidays, until it begins to wake up in mid-late January. Higher-price segments normally see the most dramatic plunges in activity during the period. 

This year, the pandemic upended seasonality: Spring, usually the strongest selling season, saw a crash in activity; summer, which typically slows down, saw high demand; and the hot summer market ran right into autumn. 

We suspect late Q4 will see a decline in activity, but remain more active than in past years. 

Higher-Price Home Sales by Month

House Sales Breakdown 

Prices & Market Dynamics by City

Following is a series of analyses that look at city median sales prices, luxury home sales, listings for sale, and 3 standard measurements of supply and demand. 

Regarding the next chart: Percentages of 50% or more would typically be considered to reflect a high-demand market. Over 60% signifies very high demand, or as it climbs, extremely high demand. 

Overbidding asking prices has been common as buyers heatedly compete for new listings. 

Comparing Demand across Bay Area Counties

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