Oakland’s housing market tops Bay Area for overbidding

Oakland’s housing market is on a tear, given its proximity to San Francisco and its affordable real estate, relatively speaking.

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Why Buy?

WhatDoYouWantInANeighborhood

People are starting to come to the East Bay for homes. In the East Bay you’ll find:

  • More house for the money
  • Great Neighborhoods
  • Great Schools
  • Large yards
  • Off-street Parking
  • Multiple ways to commute to San Francisco
  • More Sunshine!

Brokerages target herd of buyers leaving San Francisco behind | Inman News.

Second Quarter 2010 vs. Second Quarter 2011
Single Family Residences (excluded Condominiums)

Alameda County

Q2 2011 Q2 2011 % Change
Number of Sales* 3,002 2,728 -9%
Average Price ($000)* $518 $493 -5%
Average DOM* 36 63 75%
Months of Inventory* 2.4 3.1 29%

Alameda City

Q2 2010 Q2 2011 % Change
Number of Sales 95 96 1%
Average Price ($000) $607 $596 -2%
Average DOM 40 91 128%
Months of Inventory 2.8 2.4 -14%

Albany

Q2 2010 Q2 2011 % Change
Number of Sales 20 20 0%
Average Price ($000) $631 $603 -4%
Average DOM 21 57 171%
Months of Inventory 1.6 2.5 56%

Berkeley

Q2 2010 Q2 2011 % Change
Number of Sales 153 146 -5%
Average Price ($000) $831 $713 -14%
Average DOM 27 30 11%
Months of Inventory 1.7 1.8 6%

Oakland

Q2 2010 Q2 2011 % Change
Number of Sales 203 180 -11%
Average Price ($000) $727 $692 -5%
Average DOM 36 46 28%
Months of Inventory 2.5 3.3 32%

Piedmont

Q2 2010 Q2 2011 % Change
Number of Sales 25 42 68%
Average Price ($000) $1,412 $1,539 9%
Average DOM 13 13 0%
Months of Inventory 4.6 2.2 -52%

* Number of Sales is for the stated quarter and Average Price is an average for the stated quarter.