According to the current rate of sales versus the amount of active inventory, it remains a buyers’ market, even in highly desirable areas such as Piedmont, Rockridge and Montclair.

The majority of houses in the area are selling with one or two offers. New inventory has slowed due to the holidays and will continue to be light throughout the remainder of the year. Buyers remain uniquely positioned to take advantage of low interest rates, low housing prices and the tax credit recently extended through April of next year.

Here is a market update of these three areas.

Rockridge:

• Median list price: $839,000
• Average days on the market: 85
• Percent of properties listed that have had a price decrease: 45%
• Market index: 24 (cool buyers’ market). A market index of 30 indicates that the market favors the buyer.

Montclair and 94611:

• Median list price: $870,000
• Average days on the market: 135
• Percent of properties listed that have had a price decrease: 50%
• Market index: 19 (strong buyers’ market). Inventory has tightened.

Piedmont:

• Median list price: $1,467,444
• Average days on the market: 170
• Percent of properties listed that have had a price decrease: 44%
• Market index: 21 (moderate buyers’ market). Inventory has been decreasing and prices have stayed fairly consistent over the past few weeks.

You can view detailed charts here