Compared to other real estate markets, the “slowdown” in sales for Hayward, California is relatively mild, based on January’s numbers. Unit volume is down only 16% (from 106 units to 89 units) compared to 25% and more in other areas. Inventory is currently at 3.4 months, and the expired to sold ratio is up to only 28%.
Not only has Hayward avoided some of the more serious downturn of other areas, but appreciation remains fairly strong. The median sale price for residential homes increased 21.8% from January 2005 to January 2006, while the sold cost per square foot rose a respectable 16.9%.
The average home sold in January in Hayward for $594,299, 100.2% of the average list of $593,058. The median sale price was $579,000. The average days on market for sold homes was 30 days.