How’s The Market? October 2021 Update
There was some cooling of activity in summer from its peak during the super-heated spring selling season — this is a very typical seasonal trend, common in most Bay Area markets — but by historical standards, summer demand remained strong.
The Inner East Bay market usually sees an autumn spike in activity before slowing way down for the mid-winter holidays.
This report looks at median home sales prices for the region as a whole and references Oakland, Piedmont, Alameda, Berkeley, Albany, Kensington, El Cerrito, and Richmond.
The median home sale price for Q3, in the Oakland-Berkeley region, was $1,177,500. This is an increase of roughly 22% from Q3 of 2020.
Here’s a look at Inner East Bay house sales price appreciation over the last 18 months, since the pandemic struck. Columns reflect the percentage change in the 3-month-rolling median house sales price compared to the same month one year earlier.
Median sales prices can be affected by the other factors besides changes in fair market value, and seasonal fluctuations are not uncommon.
A look at Oakland sales, broken down by neighborhood, from June—September, 2021. Oakland saw a median 126% sales price to list price overall.
The highest sale price in that period was in Rockridge for $3,700,000. Both Rockridge and Temescal continue to be hot neighborhoods, with the median price per sq.ft. at $1013 and $884, respectively.
What can you get for about $2 million in the Inner East Bay? Here’s a look at answers to that question based on a sampling from June—September, 2021 sales.
Berkeley Hills: 1937, 3 beds, 2 baths, 1504 sq.ft., $1323/sq.ft. — “Spectacular eco-modern home, cutting-edge technology, indoor/outdoor living at its finest.”
Montclair, Oakland: 1936, 4 beds, 3 baths, 2423 sq.ft., $825/sq.ft. — “4 bedroom, 3 bath plus pied-a-terre on quiet cul de sac, 3-minute walk to Montclair’s shopping, dining”
Upper Rockridge, Oakland: 1950, 3 beds, 2 baths, 2016 sq.ft., $1029/sq.ft. — “Updated mid-century modern home, perfect combination of location, style, function and quality.”
Temescal, Oakland: 1920, 3 beds, 2 baths, 1621 sq.ft., $1203/sq.ft. — “Thoughtfully modernized 2-bedroom California Bungalow with detached studio cottage.”
This is a snapshot measure of how many active listings can be expected on any given day of the specified month. The number of active listings on any given day has climbed since the year began, as is typical. It may tick up a little more before dropping to its mid-winter low.
More market update data from Compass can be found here.