Your Weekly Market Update - May 1, 2024

Greetings and Happy May to all!

Welcome to your newest weekly market update! Please reach out if you have any questions and as always, please consider sharing this update with anyone in your network who might benefit. Much appreciated!

INTEREST RATES - rates hold from last week

• Conventional: 6.99 – 7.5% (depending on loan amount)

• Jumbo: 7 – 7.125% (depending on loan amount)

• FHA: 6.375%

• VA: 6.375%

• Conventional Investment: 7.75% 

REAL ESTATE MARKET SNAPSHOT

Alameda County as of 5/1/2024

• # of New Properties on Market Last 7 Days: 419 (down from last week)

• # of Properties Under Contract Last 7 Days: 254 (up from last week)

• # of currently Available Properties: 1,695 (up from last week)

• Average Listing Price

  Single Family: $1.4mil (same as last week)

  Condos/Townhomes: $800k (up from last week)

  Multi-unit up to 4 units: $1.1mil (same as last week)

• Average Sold Price (last 30 days)

  Single Family: $1.73mil (up from last week)

  Condos/Townhomes: $847k (up from last week)

  Multi-unit up to 4 units: $1.17mil (up from last week)

• Average days on market: 17 (faster than last week)

• Homes Sold in the last 7 Days: 196 (up from last week)

• Homes Sold in the last 30 Days: 874 (down from last week)

   

Contra Costa County as of 5/1/2024

• # of New Properties on Market Last 7 Days: 390 (down from last week)

• # of Properties Under Contract Last 7 Days: 239 (slightly down from last week)

• # of currently Available Properties: 1,478 (up from last week)

• Average Listing Price

  Single Family: $1.5mil (down from last week)

  Condos/Townhomes: $697k (up from last week)

  Multi-unit up to 4 units: $941k (down from last week)

• Average Sold Price (last 30 days)

  Single Family: $1.27mil (down from last week)

  Condos/Townhomes: $699k (down from last week)

  Multi-unit up to 4 units: $1.1mil (up from last week)

• Average days on market: 22 (slower than last week)

• Homes Sold in the last 7 Days: 200 (up from last week)

• Homes Sold in the last 30 Days: 840 (down from last week)

   

Marin County as of 5/1/2024

• # of New Properties on Market Last 7 Days: 94 (down from last week)

• # of Properties Under Contract Last 7 Days: 80 (up from last week)

• # of currently Available Properties: 440 (up from last week)

• Average Listing Price

  Single Family: $2.6mil (down from last week)

  Condos/Townhomes: $878k (up from last week)

  Multi-unit up to 4 units: $2mil (not enough sample size to compare)

• Average Sold Price (last 30 days)

  Single Family: $2.3mil (down from last week)

  Condos/Townhomes: $909k (up from last week)

  Multi-unit up to 4 units: $1.78mil (up from last week)

• Average days on market: 21 (quicker than last week)

• Homes Sold in the last 7 Days: 40 (down from last week)

• Homes Sold in the last 30 Days: 197 (down from last week)

If you need specific information about a particular city, don't hesitate to reach out—I'm here to assist! Feel free to contact me with any other inquiries you may have as well.

Wishing you a week filled with fun, health, productivity, and joy!

Warm regards,
Basak