In April, we saw some pretty sharp declines in terms of the median sales price throughout the East Bay, with the median home selling for 3.21% and 4.31% less than this time last year in Alameda County and Contra Costa County, respectively. We also saw a massive amount of inventory added, without many listings being sold. There was a 7.47% increase in new single-family homes hitting the market, whereas there were 12.21% fewer single-family homes sold. When you couple this with the inventory trends that we’ve been seeing over the past few months, that leaves us with 43.69% more active single-family home listings than this time last year! Inventories have been building in the East Bay, while demand has been stagnant, the market is tipping in favor of buyers.
As always, Arrive Real Estate Group remains committed to helping our clients achieve their current and future real estate goals. Our team of experienced professionals are happy to discuss the information we’ve shared in this newsletter. We welcome you to contact us with any questions about the current market or to request an evaluation of your home.
