Oakland’s real estate sales in March of 2006 were slowed slightly from last year, but the slowing is less than in other California markets.
The average home sold in Oakland in March for $613,962, or 102.8% of the average list price of $597,270. The median sale price was $530,000. Prices have appreciated 12.6% on average, though on a cost per square foot basis the growth was a more modest 8.6%.
267 residential units sold through the MLS in March, down 21% from last March’s unit volume of 338. Days on market are up only slightly as well, from an average of 23 days last March to an average of 27 this March. There are just over 3 months of inventory at present.
Expireds as a total of expireds and solds are up, from 8% last March to 27% this March. This is a dramatic looking increase, but still well within the “sellers’ market” range.