Leave a Message

Thank you for your message. We will be in touch with you shortly.

East Bay April '23 Real Estate Update Ascend RE

Ascend RE April 12, 2023

Newsletter

East Bay April '23 Real Estate Update Ascend RE

Inventory

Inventory remains at a historical low, 18% below 2018 levels and 9% below 2019 levels, this in turn is keeping prices high. Despite this, pending sales are improving quickly pointing to increased buyer demand as more properties are going into contract. In even more positive news, sold properties are increasing at a fast pace as well. Active inventory is around 1,000 units, on par with 2018/2019 pre-pandemic levels. We can safely make the assessment that we are in a seller’s market, with month’s supply at  2.4 months (roughly the same as 2019 levels). 

 

Sales Prices

In a welcome turn for sellers, the average price for single family homes is increasing, making up for recent losses. The only time period where prices appear higher than they are now was February 2021-July 2022. Properties purchased during that time period may have depreciated, but for everyone else, home prices should be in a positive range. Despite rising prices after the holidays, condo prices have plateaued for now. After 4 months, homes in San Francisco are selling over asking once again, with single family homes receiving 7% over asking. Condos are still selling at under list price (1% under on average). Overall, 47% of homes on the market have sold over asking (this number was much higher during the Spring of 2018 and 2019).

 

Days on Market

In an upswing from the slow holiday season, homes are selling faster with days on market at an average of 25 days. Though this is much longer in comparison to 2022 when the market was stronger, it is still a relatively fast length of time to sell a home. 

 

The Bottom Line

Prices have made healthy gains since their initial drop over the past 8-9 months. Depending on the type of home, prices have either hit their plateau for the moment or are continuing to increase. This combined with an increase in inventory comparable to 2019 (pre-pandemic), indicates that the market has picked up and we can expect it to continue to do so throughout this busy season. Because higher interest rates have prevented the market from being as strong as it was in prior years, it’s important to work with a trusted real estate advisor and lender to find the best loan option for you. We can connect you with a preferred lender or provide a free comparable market value if you are considering listing your home. Wishing you a happy, bountiful Spring!

 

Median Home Sale Price - Alameda County

Median Days on Market - Alameda County

Median Home Sale Price - Contra Costa County

Median Days on Market - Contra Costa County

 


Recent Blog Posts

Browse our blog posts to be in the know.

North Bay July '24 Real Estate Update Ascend RE

South Bay Peninsula July '24 Real Estate Update Ascend RE

East Bay July '24 Real Estate Update Ascend RE

San Francisco July '24 Real Estate Update Ascend RE

Los Angeles July '24 Real Estate Update Ascend RE

Los Angeles June '24 Real Estate Update Ascend RE

San Francisco June '24 Real Estate Update Ascend RE

East Bay June '24 Real Estate Update Ascend RE

South Bay Peninsula June '24 Real Estate Update Ascend RE

North Bay June '24 Real Estate Update Ascend RE

San Francisco May '24 Real Estate Update Ascend RE

Los Angeles May '24 Real Estate Update Ascend RE

East Bay May '24 Real Estate Update Ascend RE

South Bay Peninsula May '24 Real Estate Update Ascend RE

North Bay May '24 Real Estate Update Ascend RE

Upholding Equality: The Significance of the Fair Housing Act

Bay Area: Spring and Summer Gardening Guide

North Bay April '24 Real Estate Update Ascend RE

South Bay Peninsula April '24 Real Estate Update Ascend RE

East Bay April '24 Real Estate Update Ascend RE

Los Angeles April '24 Real Estate Update Ascend RE

San Francisco April '24 Real Estate Update Ascend RE

South Bay Peninsula March '24 Real Estate Update Ascend RE

East Bay March '24 Real Estate Update Ascend RE

San Francisco March '24 Real Estate Update Ascend RE

Los Angeles March '24 Real Estate Update Ascend RE

North Bay March '24 Real Estate Update Ascend RE

Spring 2024 Farmer's Market Schedule

San Francisco February '24 Real Estate Update Ascend RE

Los Angeles February '24 Real Estate Update Ascend RE

North Bay February '24 Real Estate Update Ascend RE

South Bay Peninsula February '24 Real Estate Update Ascend RE

East Bay February '24 Real Estate Update Ascend RE

San Francisco January '24 Real Estate Update Ascend RE

Los Angeles January '24 Real Estate Update Ascend RE

North Bay January '24 Real Estate Update Ascend RE

South Bay Peninsula January '24 Real Estate Update Ascend RE

East Bay January '24 Real Estate Update Ascend RE

San Francisco December '23 Real Estate Update Ascend RE

East Bay December '23 Real Estate Update Ascend RE

North Bay December '23 Real Estate Update Ascend RE

South Bay / Silicon Valley December '23 Real Estate Update Ascend RE

Los Angeles December '23 Real Estate Update Ascend RE

2023 HOLIDAY COOKIE DECORATING SOCIAL

South Bay / Silicon Valley November '23 Real Estate Update Ascend RE

Los Angeles November '23 Real Estate Update Ascend RE

East Bay November '23 Real Estate Update Ascend RE

North Bay November '23 Real Estate Update Ascend RE

San Francisco November '23 Real Estate Update Ascend RE

16 Terrifying Haunted Houses and Ghost Tours in the Bay Area

2023 Bay Area Holiday Schedule

Analysis: Homes Near Trader Joe’s Have Higher Values

North Bay October '23 Real Estate Update Ascend RE

East Bay October '23 Real Estate Update Ascend RE

South Bay / Silicon Valley October '23 Real Estate Update Ascend RE

Los Angeles October '23 Real Estate Update Ascend RE

San Francisco October '23 Real Estate Update Ascend RE

Live Work Play Here

For the month of June, we have supported LGBT Asylum Project, and are hosting this brunch in honor of all the great work this nonprofit does. Come join our teams for a… Read more

Hiring Licensed Real Estate Agents

Take your real estate career to the next level!

North Bay: January '23 Housing Update

What does 2023 have in store for the housing market?

San Francisco: January '23 Housing Update

What does 2023 have in store for the housing market?

San Francisco: March '23 Housing Update

Spring has sprung and the market is feeling a lot luckier!

East Bay: January '23 Housing Update

What does 2023 have in store for the housing market?

Move by HUD and FHA to provide greater homeownership opportunities

Have questions about the market? Our team is here to help and connect you to a lender.

Mortgage Rates Drop Prompts Buyer Demand

Mortgage Applications jump due to lowest rates since September

San Francisco Owners Required to Register Homes

March 1 Deadline for Rent Board Housing Inventory

Tenant Buyouts

What does it entail, and what does it mean for the residence owner going forward?  

Your Spring Guide to Bay Area Farmers’ Markets

Full Guide to 79 different farmers’ markets in San Francisco and beyond.

Los Angeles September '23 Real Estate Update Ascend RE

North Bay September '23 Real Estate Update Ascend RE

East Bay September '23 Real Estate Update Ascend RE

South Bay / Peninsula September '23 Real Estate Update Ascend RE

San Francisco September '23 Real Estate Update Ascend RE

The 12 most delicious new restaurants in the Bay Area

Summer is here, and so are the boozy slushies, all-you-can-eat tacos and double cheeseburgers

East Bay August '23 Real Estate Update Ascend RE

South Bay / Peninsula August '23 Real Estate Update Ascend RE

North Bay August '23 Real Estate Update Ascend RE

Los Angeles August '23 Real Estate Update Ascend RE

San Francisco August '23 Real Estate Update Ascend RE

San Francisco July '23 Real Estate Update Ascend RE

East Bay July '23 Real Estate Update Ascend RE

South Bay / Peninsula July '23 Real Estate Update Ascend RE

North Bay July '23 Real Estate Update Ascend RE

Los Angeles July '23 Real Estate Update Ascend RE

South Bay / Peninsula June '23 Real Estate Update Ascend RE

San Francisco June '23 Real Estate Update Ascend RE

Los Angeles June '23 Real Estate Update Ascend RE

North Bay June '23 Real Estate Update Ascend RE

East Bay June '23 Real Estate Update Ascend RE

Los Angeles May '23 Real Estate Update Ascend RE

North Bay May '23 Real Estate Update Ascend RE

South Bay / Peninsula May '23 Real Estate Update Ascend RE

East Bay May '23 Real Estate Update Ascend RE

San Francisco May '23 Real Estate Update Ascend RE

Los Angeles April '23 Real Estate Update Ascend RE

Check out our expert take on the busy Spring housing market

East Bay April '23 Real Estate Update Ascend RE

Check out our expert take on the busy Spring housing market

North Bay April '23 Real Estate Update Ascend RE

Check out our expert take on the busy Spring housing market

South Bay / Peninsula April '23 Real Estate Update Ascend RE

Check out our expert take on the busy Spring housing market

San Francisco April '23 Real Estate Update Ascend RE

Check out our expert take on the busy Spring housing market

South Bay / Peninsula: March '23 Housing Update

Spring has sprung and the market is feeling a lot luckier!

Let’s Talk

You’ve got questions and we can’t wait to answer them.