East Bay Market Data
I mentioned in an earlier post that Glen Bell & I have been tracking the listing data for our local area.
What we've been doing is this. We take each geographic area that our MLS covers and count the active and pending listings. The active listings are properties that are on the market & not yet under contract. The pending listings are those that are under contract, but haven't closed yet.
Using these numbers, we count the existing inventory (actives) & figure the ratio of pendings/actives. The higher the number, the more weighted the market is towards sellers. The lower the number, the more weighted the market is towards buyers.
I just ran the numbers for Oakland & Berkeley for this week and here they are, hot off the presses.
Berkeley 97 Pendings / 115 Actives = .843 Pending/Active Ratio
Oakland 472 Pendings / 793 Actives = .595 Pending/Active Ratio
In the past few weeks Berkeley has gone from a .653 P/A ratio on October 4th to .843 this week, which suggests that the market is strengthening again for sellers. For the same time period, Oakland's P/A ratio has stayed in the .59-.65 range.