The Local Lowdown

Summer cooling, but still ahead of last year

July brought the kind of seasonal step-down that's pretty typical after a strong spring... but the East Bay is holding its ground in a meaningful way. In Alameda County, the median single-family home sold for $1,270,000... up 1.60% year-over-year, even after pulling back from June's $1,320,000 and May's $1,390,000, which was the strongest reading in more than two years. Contra Costa County followed a similar path, with the median coming in at $865,000... up 0.93% from last July after peaking at $920,000 in May. A summer cooldown after a strong spring is completely normal... what matters is that both counties are still finishing ahead of where they were a year ago.

The condo picture is a bit more mixed. Alameda County condos came in at a median of $555,000... down 2.12% year-over-year and a notable drop from June's $600,000, which had been the highest mark since late 2025. Contra Costa County condos held up better, with the median at $482,000... a 4.22% gain compared to last July, even as the figure slipped from June's $515,000. The broader takeaway is that condo pricing has settled into a range it's occupied for most of the past year, while single-family values continue to grind modestly higher. Two different rhythms... but neither one telling a story of distress.

Supply keeps shrinking even at the peak of the season

The most striking thing about the East Bay right now isn't what prices are doing... it's how little is available for sale. Single-family inventory closed July at 2,659 homes... a 24.70% decline from the 3,531 homes on the market last July, and down another 6.08% from June. For context, active single-family supply peaked at 3,666 homes in June 2025 and hasn't come close to that level since. Sellers aren't rushing in to fill the gap either, with new single-family listings coming in 4.26% below last year's pace.

The condo market is tighter as well, though less dramatically so. Active condo listings finished July at 996 units... down 7.78% year-over-year. But here's what makes the condo story interesting... new condo listings actually rose 5.24% from last July, and 253 condos sold during the month, a 12.44% increase year-over-year. Supply is falling because more units are trading, not because sellers have stepped back. That's an important distinction... it tells you that buyer engagement in the condo segment is genuinely picking up, and that absorption is doing the work of tightening inventory rather than a lack of product coming to market.

Days on market tell two very different stories

Single-family homes are taking marginally longer to sell than they did last summer... but let's keep that in perspective. Alameda County averaged 15 days on market in July, up from 13 days a year ago. Contra Costa County came in at 16 days, compared with 13 last July. Both figures are still remarkably fast by any historical standard, and both remain well below the 30-day pace Contra Costa was seeing back in January. The modest slowdown reads as normal seasonal drift... not a change in direction.

The condo market is where the real improvement showed up this month. Alameda County condos sold in an average of just 22 days in July... a sharp 29.03% improvement from the 31 days recorded last July, and a dramatic acceleration from June's 33 days. That's the fastest pace Alameda condos have posted in more than two years... and combined with the jump in condo sales volume, it's a signal that buyers are genuinely stepping back into the attached-housing market in a meaningful way. Contra Costa County condos held steady at 30 days... unchanged from last July, though slightly slower than June's 27 days. A tale of two counties on the condo side... but the overall direction is encouraging.

Single-family homes still belong to sellers, condos still belong to buyers

One of the clearest ways to read a market is through Months of Supply Inventory, or MSI. California historically averages around three months... which is considered balanced. Below three months favors sellers. Above three months shifts the advantage toward buyers.

The East Bay's single-family market is firmly in seller's territory... and it's gotten tighter over the past year. Alameda County finished July with 1.9 months of supply... down 24% from 2.5 months a year ago. Contra Costa County came in at 2.4 months... a 25% decline from 3.2 months last July. Contra Costa in particular has made a significant shift... this time last year it was sitting right at the edge of balanced territory, and today it's a clear seller's market. Single-family buyers across both counties should expect competition and come prepared to move with confidence.

The condo market continues to sit on the other side of the ledger. Alameda County is at 4.4 months of supply and Contra Costa at 4.2 months... both still in buyer's market territory. But both figures are improvements from a year ago, and both have been trending down from their spring highs. Condo buyers still hold meaningful leverage right now... but that leverage has been quietly eroding all summer. If a condo purchase is on your horizon in the East Bay, the window of maximum buyer advantage may be narrower than it looks.

Bottom Line

The East Bay's July market is doing what healthy markets do after a strong spring... settling into a steadier summer rhythm without giving back the gains that matter. Single-family values are holding above last year's levels in both counties, inventory is running nearly 25% below where it was a year ago, and homes are still moving in two weeks or less. Sellers in the single-family segment continue to hold a real advantage, and that's not changing anytime soon with supply this constrained. On the condo side, the story is quietly shifting. Buyers still have leverage... but the combination of faster sales, stronger absorption, and tightening inventory suggests that window is gradually closing. Whether you're buying, selling, or simply keeping an eye on where things are heading... the East Bay this summer is a market that rewards staying informed and acting with intention rather than waiting for perfect conditions that may never arrive.