It’s no surprise that Alameda County remains an extremely popular alternative for homebuyers all around the Bay Area who’re either not interested or not willing to compete in the seven-figure markets of San Francisco, San Mateo, and Marin counties. All of this continues to be the case even as Alameda County’s average sales price has stayed on a steady climb year after year. This quarter’s average sales price of $950,720 was not only a 10 percent hike over last year’s $863,702—but was also the highest Q3 average recorded in the last 10 years—and the second highest average overall since 2008.
Q3 marked the 10th consecutive quarter where Alameda County’s average surpassed $800,000. In total, 2,724 homes sold here this quarter, down 3 percent from the previous year. In addition to solid price gains, sellers also enjoyed the fastest turnaround times of all Bay Area counties, with properties averaging 20 DOM before closing. That pace was 3 percent faster than Q3 2016.
AVERAGE SALES PRICE BY CITY – THE TOP 10
Piedmont was the only city in Alameda County to not see year-over-year gains in average sales price—but still had the most expensive home sale of Q3 at $5.14 million, and the highest average sales price for the county at $2.072 million. Pleasanton posted Q3’s second highest average at $1.339 million; while Hayward’s $972,068 average resulted in a 37 percent gain over Q3 2016.
SALES PRICE CHANGE
For sellers who priced right on the money, requiring no change on initial asking price, they received an additional 8 percent on profit. The East Bay was the safest place to test the market in Q3 as those with price reductions were still able to recover 94 percent of their original list price.