As the East Bay remains an incredibly attractive alternative to the higher-priced and lower inventory seven-figure counties, Alameda County’s $882,664 average sale ranked as its second-highest figure on record. This 7 percent year-over-year gain also marked the eighth consecutive quarter in which the county has surpassed $800,000. Its 1,746 sales in total was up 5 percent from Q1 2016, as well as from Q1 2015. However, those previous quarters were some of the lowest figures of the past decade, giving some grounding to the perceived Q1 2017 gain. The average 27 DOM was a standard number for a county that constantly exhibits some of the fastest turnaround times in the Bay Area.
AVERAGE SALES PRICE BY CITY – THE TOP 10
Nearly every community of Alameda County saw year-over-over year gains. Highlights included a 15 percent gain in Berkeley and a 16 percent gain in Albany. Oakland also continued its upward surge as its $774,212 average home sale was up 10 percent from Q1 2016.
SALES PRICE CHANGE
Sellers generally priced well in Alameda County, with those requiring no change on initial asking price netting an additional 7 percent profit, while sellers who tested the market still recovered 92 percent of their opening ask.