"Active listings in Oakland fell 30.5% year-over-year to just 518 homes in April, while nationally, inventory actually grew 4.6% over the same period. Only 278 new listings hit the market that month, down nearly 25% from a year ago."
"Oakland's median list price came in at $644,250 in April, down 6.9% from last year, yet still more than 51% above the national median of $425,000. Only 11.5% of listings carried a price reduction, well below the national rate of 16.7%."
"The typical home sold in 35 days in April, nearly three weeks faster than the national median of 52 days, which itself crept up 3% year-over-year. Buyer demand in Oakland stayed strong enough to move homes quickly."
Oakland's real estate market is characterized by a significant drop in listings, with active homes down 30.5% year-over-year. The median list price is $644,250, still over 51% higher than the national median. Homes are selling quickly, averaging 35 days on the market, which is much faster than the national average of 52 days. Despite a modest price dip of 6.9%, the market remains competitive, with limited supply leading to heightened buyer competition and sellers maintaining confident pricing strategies.
Read at SFGATE
Unable to calculate read time
Collection
[
|
...
]