April’s sales figures for Oakland California residential real estate were down somewhat from last year’s numbers, but still have many indications of a strong market.
283 residential units sold in April, down 30.7% from the figure of 370 residential units a year ago. Appreciation was 10.5% from year to year on a median price basis, but on a sold price per square foot basis the appreciation was a more modest 3.7%. Days on market are up, but not alarmingly so. Last April the average sold home spent 22 days on the market, while this year the average was 26 days.
Moreover, homes are still selling above listing price. Last year’s average sale price was 8.6% over the asking price, while this year the average home sold for 3.1%.
Inventory is currently at 3.6 months.