Alameda County, and the East Bay as a whole, continues to be an attractive alternative to those searching outside of the higher-priced markets lacking available and affordable inventory. This heightened interest in the area over the last few years has led to a steadily rising average sales price for Alameda County and this quarter was no different. At $966,870, the average home here sold for 11 percent more than it did last year when the average was $873,681. Alameda County’s fourth quarter average sales price was also up 2 percent from Q3 2017.
A total of 2,640 homes sold in the county this quarter for an 8 percent gain year-over-year. Alameda County also tied with San Mateo County for the quickest turnaround times seen in the Bay Area, averaging just 21 DOM, and thereby moving the transactional process along at a 20 percent faster rate than last year. Sunol was the only city within the county’s top 10 to not experience year-over-year gains in its average sales price in Q4.
AVERAGE SALES PRICE BY CITY – THE TOP 10
Piedmont once again took home the highest average price point for Alameda County at $2.28 million this quarter. Hayward’s $937,502 average sales price was a 30 percent increase from Q4 2016. Both Fremont and Albany saw 17 percent increases to reach $1.205 million and $1.177 million, respectively.
SALES PRICE CHANGE
For sellers whose properties weren’t affected by a price change, they were able to accumulate an additional 9 percent on their initial asking price. Those who priced too high and were forced to reduce still recovered 94 percent of their original list price.