Weekly Market Report: MAY 29- JUNE 4, 2024

Check out this MAY 29 - JUN 4, 2024 Get the best insights on when to place a plan for your new home with this weekly market guide.

📍East Bay📍South Bay📍San Mateo County 📍Lamorinda & Contra Costa

East Bay

📍 Castro Valley 📍 Danville 📍 Dublin 📍 Hayward📍 Livermore 📍 Pleasanton 📍 San Ramon

The East Bay real estate market shows a stable balance of property supply and ongoing sales, indicating steady demand. The market here appears somewhat reactive, with notable adjustments in property pricing, possibly to align with buyer expectations and realign with market dynamics. This region's property prices make it an attractive option for a diverse range of buyers, and the quick movement of properties from listing to sale suggests a consistently high demand.

South Bay

📍 Campbell 📍 Cupertino 📍 Los Altos 📍 Los Gatos 📍 San Jose 📍 Santa Clara 📍 Saratoga

The South Bay stands out with a high volume of property listings and sales, reflecting its vibrant economic backdrop, likely driven by the tech industry. The minimal price adjustments in this region suggest that properties are well-priced from the outset, or that the competitive market leaves little room for price negotiation. The relatively higher property values here correspond with the area's economic prosperity and the premium lifestyle it offers, with properties selling as quickly as they are listed.

San Mateo County

📍 Belmont 📍 Burlingame 📍 Foster City 📍 Hillsborough📍 Millbrae 📍 Palo Alto 📍 San Carlos 📍 San Mateo

San Mateo County showcases the highest property values among the examined counties, a clear indicator of its luxury housing segment and the affluent nature of its demographic. The swift sales process and the absence of price changes highlight a market where high-end properties are in demand, and buyers and sellers have a clear understanding of property valuations. This efficiency suggests that despite the higher costs, the market remains buoyant with well-informed buyers.

Lamorinda & Contra Costa

📍 Lafayette 📍 Moraga 📍 Orinda📍 Concord 📍 Pleasant Hill 📍 Walnut Creek

In Lamorinda and Contra Costa, the market is characterized by a reasonable flow of new and active listings, with a relatively stable sales rate. The greater number of price adjustments here might indicate more frequent re-evaluations of property values to meet buyer expectations or reflect broader economic conditions. The slightly longer time properties spend on the market suggests a more cautious approach from buyers, making it a region where negotiation plays a significant role. The lower median prices compared to other counties make it an accessible option for a wider range of potential homeowners.

Overall Insights into the Bay Area Real Estate Market

The real estate market across the San Francisco Bay Area counties is diverse and active, reflecting the varied economic conditions and community profiles within each region. From the high-end, fast-moving market of San Mateo County to the more accessible and negotiable markets of East Bay and Lamorinda & Contra Costa, each area offers unique opportunities and challenges for buyers and sellers. The overall quick sales across counties highlight a strong and enduring appeal of the Bay Area’s real estate, making it a dynamic environment for real estate investment and homeownership.

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