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.

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Real Estate Weather report for Castro Valley and East Bay

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.

September Home Sales in Castro Valley, California

Five Canyons home
Housing Market in Castro Valley, Ca.

As per the Bay East Association of Realtors, Days on Market (DOM) for the Castro Valley area year-to-date is around 84. The median attached home price in Castro Valley for September was $505,000. As of the last day of September there were 107 active homes in  Castro Valley. At current selling rates this means there is approximately 2 months of inventory in Castro Valley remaining.

  Active Pending Sold Months Supply
Aug 08 190 36 42 4.5
Sep 08 184 40 33 4.4
Oct 08 174 43 32 4.2
Nov 08 162 25 29 4.5
Dec 08 157 22 32 4.8
Jan 09 152 39 18 4.7
Feb 09 151 30 25 5.2
Mar 09 137 50 25 3.9
Apr 09 125 46 31 3.0
May 09 111 48 34 2.6
Jun 09 102 53 29 2.1 
Jul 09 108 49 45 2.2
Aug 09 100 52 44 2.0
Sep 09 107 48 38 2.1

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Castro Valley homes for sale

Homes sold by Meena in Castro Valley, California