July’s residential sales in Hayward, California has slowed significantly compared to a year ago, according to my most recent look at BayEast MLS statistics. Ninety-eight units sold in July, down 43% from the 172 units sold last July. At the same time, the number of listings that expired rose from 12 to 43, bringing the expired to sold ratio up from a meager 7% in July of 2005 to 44% in July of 2006. Inventory is fairly high at 6.4 months.
The average home sold in Hayward in July for $577,778, a tad more than the average list of $576,247. The median sale price was $572,000.
In terms of appreciation, this year’s numbers are still up slightly over last year’s. Price per square foot rose 1.9% over the period, while the average price increased 5% and the median increased 4%.