By Kenneth Session
Is the Oakland Real Estate Market a Good Investment Market Right Now? The Oakland real estate market is currently very hot. Low interest rates and the stunning scenery are drawing homebuyers into the market. Unfortunately, eager homebuyers are finding a market with a deficient supply. As of May 2021, Oakland had 1.5 months’ supply, a sharp decline from 3.8 months witnessed last year in May. This market imbalance has pushed home prices higher. A situation that has made finding a home in Oakland very difficult and has made some buyers bow out of the market. On the flip side, the market is great for sellers. The very competitive market is seeing homes sell for great prices. Additionally, as the economy recovers, job growth in Oakland will continue to rise as more businesses go back to the offices. But are these great incentives to invest in the Oakland real estate market?
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f you are planning to invest in Oakland, it is essential to keep in mind that home prices have been trending up this past year and more in the
second quarter. The price growth in Oakland has gone up by 3.3% this year compared to last year. The Median prices in Oakland are a bit on the higher side and are continuing to go up. In June, WWW.THEPOWERISNOW.COM
the median listing price was $950K. The demand is so high that homes are selling 17% over the list price, and according to Redfin.com, hot homes are seeing people pay 34% over the listing price. Home sales have also increased in Oakland this past six months. Approximately 3,820 homes were sold during this period and with 76% of these l
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