Understand the difference between "listing prices" (what sellers are asking for) and "sold prices" (what buyers are willing to pay). By comparing these price trends, you'll have a good idea of where the market is heading. The median listing and sold property prices are calculated based on the market activity each month.
The median home price reported by the National Association of Realtors declined 4.1% in January to $199,600. Prices, however, remain 6.2% higher than the same month of the previous year. The recent uptick in year-over-year price growth is probably due to low inventory levels in recent months
The seasonally adjusted annualized rate of home sales declined from December to January to a pace of 4.82 million homes, a 4.9% decline. Homes sales were 4.3% higher than the same month of the previous year, with January making four months in a row of year-over-year growth.
The number of homes available decreased 1% compared to the same month of the previous year, with 1.87 million homes available for sale in January. This translated to 4.7 months of supply. Inventory will likely remain low during the cooler months of the year and then loosen as the weather warms.
The reports presented on below include information about the supply of homes for sale, sales prices and sales activity for local real estate markets in the East Bay. Bay East releases these reports on or about the tenth of each month.