Newsletter
Quick Take:
February brought some good news for homeowners. Alameda County’s median single-family home climbed back to $1,300,000, essentially flat year-over-year at +0.12%. Contra Costa County saw a slight dip, with the median at $810,000, down 3.2% from last year.
The condo market is showing more volatility. Alameda County condos continue to trend down, with a median of $550,000 (-8.3% YoY), while Contra Costa condos saw a strong rebound at $522,500, up 17.7%. This type of fluctuation is typical in smaller markets, where a handful of sales can shift the median price month-to-month.
Even as spring usually brings more listings, supply in the East Bay is still constrained. Single-family homes in February were at 1,898 units, down 21% from last year. Condos followed a similar trend, with inventory down 14% to 731 units. With fewer homes to choose from, buyer competition remains strong, which has helped stabilize single-family prices even as demand picks up.
The pace of sales accelerated in February. Single-family homes in Alameda County sold in just 13 days, and Contra Costa homes in 14 days. That’s slightly slower than last year in percentage terms, but still very fast historically. Condos also moved faster, with Alameda County units selling in 23 days and Contra Costa condos in 18 days, showing buyers are ready to act as the spring market heats up.
Looking at Months of Supply Inventory (MSI), the single-family market remains a seller’s market:
Both are down from last year, showing competition is still fierce. The condo market, meanwhile, is more balanced:
This gives buyers and sellers a more even playing field for condos, while single-family buyers will need to move fast to compete.
The East Bay market is competitive, fast-moving, and still favors sellers for single-family homes. Prices are stable or rising, inventory is tight, and homes are selling in just days. Condo buyers and sellers have a bit more room to negotiate, but overall, the market is active and dynamic, making preparation and speed key for anyone looking to buy or sell this spring.
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