March '25 Market Deep Dive

The Local Lowdown

Quick Take:

On a year-over-year basis, prices have remained stagnant in the East Bay, likely due to the flood of inventory we’re currently seeing.
Inventory levels are increasing drastically throughout the entire East Bay, with the area seeing over 40% more active listings than this time last year.
Although you might expect homes to sit longer with such a drastic increase in inventory, they’re still moving relatively quickly.

Median sales prices are stagnating throughout the East Bay

East Bay home prices are stagnating compared to last year’s growth. Single-family homes in Alameda and Contra Costa counties are selling at similar prices to last year, while condo prices have dropped—down 5.66% in Contra Costa and 9.77% in Alameda. This slowdown is likely due to a surge in inventory hitting the market in February.

East Bay inventory levels are steadily creeping up

A sharp rise in inventory has likely caused home prices to level off in the East Bay. Active listings jumped 16.82% from January and 40.17% year over year, reaching levels last seen in April/May. This suggests sellers are moving despite interest rates. If inventory continues to grow at this pace, prices may decline, but for now, homes are still selling.

Despite the inventory increasing, it’s still moving!

Even with last month’s inventory surge, demand in the East Bay remains strong. Sold listings rose 2% year over year and 35.55% month over month. However, for prices to stay stable, demand must continue increasing to keep pace with the growing supply.

The East Bay continues to be a seller’s market

The Months of Supply Inventory (MSI) metric determines market conditions, with California’s three-month average indicating a balanced market. Markets with less than three months favor sellers, while those with more than three months favor buyers.

Despite a recent surge in inventory, the East Bay’s single-family home market remains highly competitive for sellers, with Alameda County at 1.6 MSI and Contra Costa County at 1.8 MSI. In contrast, the condo market is more balanced, with 3.5 MSI in Alameda and 2.8 MSI in Contra Costa.

Bottom Line

East Bay home prices are stagnating as inventory surges, with active listings up 16.82% from January and 40.17% year over year. Single-family home prices in Alameda and Contra Costa remain steady, while condo prices have dropped 5.66% and 9.77%, respectively. Despite rising inventory, demand remains strong, with sold listings up 2% year over year and 35.55% month over month. The market still favors sellers, with Alameda at 1.6 MSI and Contra Costa at 1.8 MSI, though the condo market is more balanced, offering buyers some opportunities.