Latest East Bay Housing Market Data
Hot of the e-presses, the new Bay Area housing numbers are out from Dataquick. It was largely what I expected: lower but historically high volume, 10-20% year-to-year appreciation, low foreclosure rates & a median price drop from September to October.
"We look at today's market as normalizing. Everybody seems to have gotten used to the records set last year and the year before. The fact is that last month was the third-strongest October since we started keeping records in 1988. It was about twenty percent above average," said Marshall Prentice, DataQuick president.
Remember, these numbers are for October. As detailed in this post, we have been pulling current market data from the MLS and compiling the information in a speadsheet. Although we don't calculate the average median sales prices, we are able to accurately determine the momentum of the East Bay real estate market.
Berkeley's overall Pending/Active ratio has dipped back down to .827 on 11/15 after coming in at .848 a week earlier.
Oakland's overall pending/active ratio is sticking in the same range. It was .577 on 11/15 which was a tad bit higher than the .555 ratio on 11/8. Oakland has been hanging steady in this range for the past six weeks.
We also break it down into sub areas & above and below the 750K price barrier. I'll post those numbers in a separate post in the next couple days.
One last note. A quick shout out to the woman in the photo, Rayne Palmer. She has played a huge part in my development as a real estate professional & I thought I'd share a shot that I took a little while ago while we were out having fun.