Oakland’s real estate market in June showed some slowing from the same time last year, but the numbers overall were still fairly strong. Homes in Oakland are still selling for more than list price, however the intensity of the bidding war has slowed. Last June homes sold for 8% avoe list on average, while this year the figure is 3% above list.
The average home that sold in Oakland in June listed for $620,322, and sold for $641,296. The median sales price was $550,000.
In terms of appreciation, the average sale price is up 6.38% from last year, with average sold price per square foot quite close to that figure at 6.47%. The median price increased 7.11% from last year.
Average days on market for homes that sold is actually down from last year — from 26 days last year to 23 days this year. However, unit volume is down 22%, from 414 units to 322. The expired to sold ratio is up to 29.5% compared to last year’s figure of 8.9%.