Home Sales Statistics



The $873,681 average home sale here was up 9 percent year-over-year, amounting to the second-highest average sales price in market history.


Alameda County saw its floodgates open in terms of high-end sales following the 2016 election much like San Francisco and Mid-Peninsula. The $873,681 average home sale here was up 9 percent year-over-year, amounting to the second-highest average sales price in market history. Q4 2016 also marked the seventh-consecutive quarter in which Alameda County bested the $800,000 mark, providing a strong and stable selling platform for 2017. The 2,438 homes sold here was down just 2 percent from the previous year—nowhere near a large enough gap to offset the quarter’s massive average sales price gains. As in most Bay Area counties, the average 26 DOM here marked a subtle slowing of sales pace.
Piedmont capped a year of strong upward growth with a $2.15 million average home sales price, up 14 percent from Q4 2015. Oakland also showed an impressive 11 percent gain—very much in line with its 10 percent gain for the 2016 fiscal year.
Homes that required no price change netted 107 percent of initial asking price. This was the strongest gain among all seven Bay Area counties. Meanwhile, when sellers tested the market they were able to recover 93 percent of their initial listing. Both of these figures point to a market that is squarely in favor of sellers at the moment.



Despite Rising Prices, Most Economists Still Say No
Source: Wall St. Journal
The relentless rise in housing prices has led many economists to question whether another housing bubble is forming. Housing prices have been climbing for 35 consecutive months, according to the latest S&P/Case-Shiller Home Price Index. However, while prices keep rising, the rate of growth has slowed, thereby giving economists reason to believe a bubble is not a concern. Also, far fewer new homes are being built than a decade ago, so oversupply will not be an issue related to a price bubble.
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August is historically a calmer month in Bay Area real estate as many buyers, sellers and agents alike are off enjoying a last summer vacation as they prepare to head into fall. This year proved no exception with the market reflecting many typical seasonal trends.

Marin County and Sonoma County both saw their average home sale price dip by 10 percent from the previous month—indicative of the aforementioned seasonal trends. The same goes for sales volume dropping slightly in all seven counties we represent.

There were a few highlights. For one, the East Bay continues to see rising or steady home sale prices. This is due mainly to its level of affordability and access for buyers who have been priced out of the San Francisco home market. These same reasons also played into the continued surge in San Francisco condominium prices, which were up 20 percent from their August 2013 average sale price. In San Mateo County, the $1.385 million average sales price helped reclaim the Peninsula’s place as the most affluent county in the Bay Area.

As we look forward to September and October, it would not be the least bit surprising to see both sales volume and average sales price rise back up across the region.


August 2014 :: McGuire Monthly Market UpdateAlameda County was an exception to the seasonal price dips that affected much of the Bay Area. Its $771,107 average home sales price was up only slightly from July, but was a 17 percent gain from August of 2013, which was considered to be a strong month last year. The strength of these numbers comes largely from the continued trend of East Bay homes being seen as a more-affordable solution to the high-priced San Francisco market. It’s no wonder that the average 22 DOM for these in-demand properties was the quickest turnaround rate seen among all seven counties we represent. The 953 homes sold this month was also the county’s second-highest sales volume total in the past year.

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