Alameda County saw its floodgates open in terms of high-end sales following the 2016 election much like San Francisco and Mid-Peninsula. The $873,681 average home sale here was up 9 percent year-over-year, amounting to the second-highest average sales price in market history. Q4 2016 also marked the seventh-consecutive quarter in which Alameda County bested the $800,000 mark, providing a strong and stable selling platform for 2017. The 2,438 homes sold here was down just 2 percent from the previous year—nowhere near a large enough gap to offset the quarter’s massive average sales price gains. As in most Bay Area counties, the average 26 DOM here marked a subtle slowing of sales pace.
AVERAGE SALES PRICE BY CITY – THE TOP 10
Piedmont capped a year of strong upward growth with a $2.15 million average home sales price, up 14 percent from Q4 2015. Oakland also showed an impressive 11 percent gain—very much in line with its 10 percent gain for the 2016 fiscal year.
SALES PRICE CHANGE
Homes that required no price change netted 107 percent of initial asking price. This was the strongest gain among all seven Bay Area counties. Meanwhile, when sellers tested the market they were able to recover 93 percent of their initial listing. Both of these figures point to a market that is squarely in favor of sellers at the moment.