Bay Area housing statistics…

May 3, 2009 by admin

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No matter which way you turn we are inundated with real estate news. However, at Women Building Wealth we understand that real estate is local, its cyclical and savvy invetment minded investors are out there looking for opportunity. Deals and opportunities, inspite of the negative press, are happening each and every day. If you are a beginning investor there are ample opportunities for you to put your foot in the water. Dont assume that was it going on in the mid-west market is happening in the South of the West Coast. You’ve gotta look at the sub markets (county level) and micromarkets (neighborhoods/districts) as well.

For example, in Marin County, as of March 2009, there were 1681 homes for sale and a total of 9 1/2 months of inventory. There is a LOT to choose from in Marin County. Prices have dropped 23% to the average home selling at $1.115M

San Francisco has changed a bit as it was the last strong hold in the Bay Area. There is a 24% decrease in the sold price of homes - overall - with the average sold price at $895K and a healthy 5 month inventory. San Francisco seems a bit more balanced.

More buyers than inventory in the East Bay. Alameda has almost 4 months worth of inventory, with an average sales price of $380K, a huge decrease of 40%. Contra Costa county is even lower than Alameda with an average sales price of $293K and only 3.5 months of inventory.

Want to know what the stats are in Contra Costa and Alameda Counties regarding average days on market? Concord comes in with 65 DOM and Alameda at 56 DOM. San Francisco and Marin County, both first tier markets, have homes are sitting on the market much longer at 95 to 104 days respectively.

Take a look at the graphs below. Next up will be trend/views of the above counties’ submarkets. Mill Valley, Corte Madera. Oakland, Berkeley, Walnut Creek and Concord, San Francisco’s District I and District 5.