April '25 Deep Dive

The Local Lowdown

Quick Take:

Median sale prices fell slightly on a year-over-year basis in the East Bay.
Inventories increased by a substantial margin, as new listings have flooded the market over the past couple of months.
Although inventories have built up quite a bit over the past couple of months, homes are still moving relatively quickly, with the average listing in Alameda and Contra Costa Counties only lasting 12 and 13 days, respectively, before being purchased!

Median sale prices have dipped slightly throughout the East Bay

In March, median sale prices declined by 4.41% in Alameda County and 7.44% in Contra Costa County, mainly due to a significant surge in inventory over the past few months. With demand lagging behind the influx of new listings, prices have started to dip. However, this trend aligns with typical seasonal patterns. While there’s been a year-over-year decrease, prices actually saw a notable increase compared to the previous month.

East Bay inventory levels remain incredibly high

Throughout 2025, inventory has steadily increased, and March was no exception—2,046 new single-family homes were listed, marking a 16.78% jump from last year. However, demand hasn’t kept pace, with only 1,232 homes sold in March, an 11.59% increase year-over-year. The gap between new listings and sales, combined with the already high volume of homes hitting the market this year, has led to a sharp rise in inventory. As a result, active listings are now up 47.79% compared to March 2024.

Despite high inventory levels, homes are still moving quickly!

With inventory up nearly 50% compared to last year and demand not rising at the same pace, it might seem like homes would be sitting on the market much longer. But that’s not the case in the East Bay. In fact, the average home is spending just 12 days on the market in Alameda County and 13 days in Contra Costa County. While that’s slightly longer than last year, it’s still a remarkably short timeframe for homes to sell.

Sellers have the negotiating power in the SFH market, while buyers have the power in the condo market!

To gauge whether a market favors buyers or sellers, we often turn to the Months of Supply Inventory (MSI) metric. A balanced market typically sits around three months of supply, which has historically been California’s average. Markets with less than three months of supply are considered sellers’ markets, while those with more are seen as buyers’ markets.

In the East Bay, the single-family home market remains a sellers’ market despite the recent surge in inventory, with about 1.8 months of supply in Alameda County and 2 months in Contra Costa County. Condos, however, tell a different story—buyers have a bit more negotiating power there, with 4.1 months of supply in Alameda and 3.4 months in Contra Costa.

Bottom Line

In March, median sale prices in the East Bay saw modest declines—down 4.41% in Alameda County and 7.44% in Contra Costa County—largely due to a surge in new listings. Inventory remains high, with a 16.78% year-over-year increase in new single-family home listings and a 47.79% jump in active listings compared to March 2024. Despite this, homes are still selling quickly, averaging just 12 days on market in Alameda and 13 in Contra Costa. The single-family home market remains a sellers’ market based on Months of Supply Inventory, while buyers have more leverage in the condo market.