November 2015 East Bay Market report

East Bay Inventory is increasing. Perfect time to buy a home. Are you looking to be a new homeowner in the East Bay? I can help.

Real Estate Weather report for Castro Valley and East Bay

Castro Valley : Detached Single-Family Homes – July 2015

Market Activity Summary

  • Inventory: 54 units were listed for sale as of the last day of July – approximately 1 month of inventory.
  • Sales Activity: 56 single-family detached units were sold during July.
  • Median Sales Price: $705,500 during July.
  • Average sales price was 105.85% of the average list price during July.

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Meena Gujral

http://www.meena.realtor

Achievers Realty

Help-U-Sell Achievers Realty

925-425-9491

DRE # 00950378

“The best compliment you can offer is a referral!”

Castro Valley and East Bay Real Estate Market

Meena Gujral

Help-U-Sell Achievers Realty

925-425-9491

http://www.helpusellachievers.com

meenagujral@comcast.net

July home sales climb to highest level in nearly three years

Sales 2015-08Sustained job and income growth gave home buyers the confidence in July to jump into the California housing market, pushing home sales to their highest level in nearly three years.

Home sales remained above the 400,000 mark in July for the fourth consecutive month and rose to highest level since October 2012. Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 449,530 units in July. The July figure was up 2.7 percent from the revised 437,680 level in June and 12.7 percent compared with home sales in July 2014 of a revised 398,980. The year-to-year change was the highest since July 2009 and significantly higher than the 6-month average increase of 6 percent observed from January 2015-June 2015.

The median price of an existing, single-family detached California home dipped 0.3 percent in July to $488,260 from $489,640 in June.  July’s median price was 5.4 percent higher than the revised $463,330 recorded in July 2014. The median sales price is the point at which half of homes sold for more and half sold for less; it is influenced by the types of homes selling as well as a general change in values.

Median Price 2015-08

The July Unsold Inventory Index was unchanged from June, remaining at 3.3 months, but down from 3.8 months in July 2014. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate. A six- to seven-month supply is considered typical in a normal market.

Home sales Surge in March-April

The spring selling season gets off to a sunny start in March with the sale pace reaching an 18-month high. Also, NAR President Chris Polychron urges the Senate Banking Committee to take action on overly tight mortgage credit. Other stories: Hard-hit buyers are returning to the market seven years after the downturn and the Rural Housing Service joins NAR to talk about the advantages of Sec. 502 direct loans for households that otherwise wouldn’t be able to get mortgage financing.

How far will the prices fall in Hayward Hills?

Weighing scale money and house

There is about 10 months of inventory in Hayward in the 94542 zip code. The prices in Hayward have dropped like a rock. However, the Hayward Hills is still desirable. Even though the prices in the Hayward Hills have come down, people still like to invest there.

The builders in the Stonebrae community and Bridgeport are still willing to negotiate the price. I have been able to negotiate a lot lower than asking price in these developments.

Where are you thinking of buying? Are you considering any of the new developments? Make sure you take an agent with you to negotiate on your behalf at the first visit to the sales office. Are schools important to you? Hayward schools are not great so if that is an important factor, please look into that. I can help you get all the school information if you need it.

Please follow this thread below to see about the prices in 94542 and make your decision on whether or not you should buy there.

If you are looking for an agent specializing in Hayward, Castro Valley or in the East Bay, please call Meena at 510-279-9580

http://www.city-data.com/zips/94542.html 

Homes listed and sold by Meena Gujral in Hayward

 

Homes sold by Meena in Castro Valley, California