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

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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.

Castro Valley California June 2009 Housing Statistics

home

As per the statistics from the Bay East Association of Realtors, Days on Market (DOM) for the Castro Valley area year to-date is around 96. The median single family home price in Castro Valley for June was $435,000. As of the last day of June there were 102 active homes in Castro Valley. At current selling rates this means there is approximately 2 months of inventory in Castro Valley remaining.

As you can see just from the last 3 months below, inventory is getting low and prices are on the rise.

             Average Price               Active Properties

March    $450,258                     137

April       $505,030                     125

May        $507,597                     111

June       $505,362                     102 

The market is changing from a buyer’s market to once again a seller’s market. I am finding multiple offers in many areas in the East Bay especially in Castro Valley, California.

 I just sold a home in Palomares Hills, Castro Valley. As per the seller’s agent he had 3 offers, and thankfully our offer was accepted. In Five Canyons , Castro Valley I ran into the same situation. The home there too sold over asking price. I now have an investor who wanted to see a house that just came on the market in Castro Valley. I had to give him the disappointing news that they already have 4 offers over asking price out of which 2 are all cash offers.

If there is anything you need to know about Five Canyons, Palomares Hills, Castro Valley Schools or homes for sale in Castro Valley California, you can reach me at 510-279-9580. You can also go to my website at http://www.helpusellachievers.com

Homes listed and sold by Meena in Castro Valley

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Meena Gujral

Help-U-Sell Achievers Realty

510-279-9580

How are the schools in Castro Valley, California?

School

Most of the elementary schools in Castro Valley are excellent, Vannoy Elementary, Palomares Elementary, Jensen Ranch Elementary, Independent Elementary and Chabot Elementary being amongst the highest ranking schools in Castro Valley, California as per Great Schools.com

 

My daughter was in Independent Elementary school and she really thrived.

Independent School is an excellent school with diverse student body, dedicated teachers and very involved parents. The student body is very diverse and they participate in cultural events and fashion shows with costumes from all over the world.

 

Charles Reynes, an itinerant elementary science teacher based at Marshall Elementary School, was one of two teachers in the State of California selected by a national panel as state finalists for the prestigious 2008-09 Presidential Awards for Excellence in Mathematics and Science Teaching.

Presidential Award winners are honored during a ceremony at the White House, where they receive a citation from the President.

 

For a list of Castro Valley Homes for sale, Real Estate listings, California Real Estate go to http://www.helpusellachievers.com or contact Meena at 510-279-9580