East Bay - Intero Real Estate Market Report - February 2016

Buy.Sell.Stay.

February 2016 Market Report East Bay Berkeley, Danville, Dublin, Fremont, Hayward, Livermore, Newark, Oakland, Pleasanton, San Ramon, San Leandro, Union City

2016 Intero Real Estate Services Inc., a Berkshire Hathaway affiliate and a wholly owned subsidiary of HomeServices of America, Inc. All rights reserved.

Data provided by Trendgraphix February 2016.. All information deemed reliable but not guaranteed. This is not intended as a solicitation if you are listed with another broker.

Executive Insights Home Sales Trend Upward The health of financial markets and a lack of inventory continue to be the biggest drivers of the Bay Area housing market. And with the stock market starting off the year strong, we’re also feeling a strong housing market here, with the expected seasonal slowing that often comes with the beginning of the year.

“The tempo of the Bay Area housing market is tied very closely to the financial markets,” said Tom Tognoli, President and CEO of Intero Real Estate. “So much of the Bay Area’s wealth is tied up in stock options and stock purchase plans. As the financial markets go, people’s attitudes and pocket books tend to follow.”

Many have been talking about the high-end of the housing market cooling off, which we’ve seen a bit. But that doesn’t mean no one’s in the market for high-end luxury homes. “Just last week, we sold a home in Atherton for over $8.5 million that was on the market for less than a week.” So it’s not a totally chilled market by any means.

It’s still very much a seller’s market in the Bay Area. And while a lack of inventory continues to be a major challenge for buyers that usually means a quicker sale at a great price for sellers, those who are selling to move up are also finding it frustrating. The good news is the number of active listings increased at the state level for the first time in five months in January, and the Bay Area was part of the trend with an 8% increase in homes for sale compared to the previous month.

“The fundamentals underlying the demand for housing fueled a healthy start to 2016,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. But she, along with other economists, continues to watch overall economic trends such as volatility in the equity market, that can potentially lead buyers and sellers to hold back and take a “wait-and-see” approach.

So the market is starting strong, but with lack of homes and the uncertainty of an election year, we could see some slower growth. We like to watch the housing market numbers month to month because we always see noticeable changes that help our agents assess pricing and bidding strategies. Let’s take a look at the important numbers broken down into categories that are easy to understand. This will help you get clear on what’s happening in your market that can impact your home sale or purchase.

Market Highlights East Bay

Total Homes for Sale

764

Luxury Homes for Sale*

19

*Homes for sale above $3 million.

Total Homes Sold

Average Days on Market

Average List Price

Average Sold Price

458 $1,045,000

32

$801,000

Inventory East Bay

Total Number Of Homes:

For Sale

Sold

924

905 15-Oct

458

482

521

630

764

764 771

915

1130

1282

1257

1232 1190

1023 15-Sep

511

600 499

400

507

600

752

768

800

826 798

928 963

1000

1055 1017

1200

1145 1174

1400

200 0 14-Dec

15-Jan

15-Feb

15-Mar

15-Apr

15-May

15-Jun

15-Jul

15-Aug

15-Nov

15-Dec

16-Jan

16-Feb

Inventory By The Numbers Home Price Range

Homes For Sale

Year Over Year % Difference

< $500K

151

-24%

$500K $1M

353

2%

$1M - $3M

245

30%

$3M - $5M

15

15%

$5M - $10M

5

0%

$10M +

0

-100%

Pricing East Bay

Average Prices in $,000:

For Sale Price

Sold Price

1200 $1,003

1000

$985

$963

800

$1,000

$836 $758

$722

$1,048

$872

$1,070 $1,059

$875

$878

$1,027

$888

$996

$853

$1,010 $1,011

$983

$995

$1,016

$831

$816

$827

$825

$840

15-Sep

15-Oct

15-Nov

15-Dec

16-Jan

$763

$1,045

$801

600

400

200 14-Dec

15-Jan

15-Feb

15-Mar

15-Apr

15-May

15-Jun

15-Jul

15-Aug

16-Feb

0

Pricing By The Numbers

Average Price Per Square Foot.

$440

-2.2% Month over Month

On The Market East Bay

Average Days On Market 45

41

40 35 35

31

31

32

31 28

30 25 25

21

21

15-Apr

15-May

20

20

21

27

23

20 15 10 14-Dec

15-Jan

15-Feb

15-Mar

15-Jun

15-Jul

15-Aug

15-Sep

15-Oct

15-Nov

15-Dec

16-Jan

16-Feb

5 0

DOM By The Numbers Home Price Range

Days on Market

Year Over Year % Difference

< $500K

43

-2%

$500K $1M

29

16%

$1M - $3M

26

-13%

$3M - $5M

0

-100%

$5M - $10M

0

NA

$10M +

0

0%