Additionally, this marked the third consecutive quarter in which the market topped $800,000 in Alameda County. The 2,478 home sales also showed a slight improvement year-over-year, and nearly matched the total number of home sales in its neighboring Contra Costa County. Alameda County’s average 25 DOM was the fastest turnaround rate among all seven Bay Area counties we represent.
SALES PRICE CHANGE
Homes that required no price change netted 107 percent of the initial listing price, while sellers who tested the market received 94 percent of their initial asking price. Both of these numbers favor a market in which sellers have strong control.
AVERAGE SALES PRICE BY CITY – TOP 10
The City of Alameda performed exceptionally this quarter, with its average home sale of $1.034 million up 25 percent year-over-year. This number came from a large data pool and included no sales above $2.7 million, meaning that the 25 percent gain is an accurate representation of the market’s trajectory.