Your Weekly Market Update - May 15, 2024

Good afternoon!

Here is your latest and greatest weekly market update! As always, please let me know if you have any questions about the information here or would like to discuss any other real estate matters. I am here for you!

INTEREST RATES  - down from last week

- Conventional: 6.75 – 7.00% (depending on loan amount)

- Jumbo: 6.625 - 7.25% (depending on loan amount)

- FHA: 6.125%

- VA: 6%

- Conventional Investment: 7.375% 

REAL ESTATE MARKET SNAPSHOT

Alameda County as of 5/15/2024

- # of New Properties on Market Last 7 Days: 490 (down from last week)

- # of Properties Under Contract Last 7 Days: 224 (up from last week)

- # of currently Available Properties: 1,860 (up from last week)

- Average Listing Price

Single Family: $1.54 mil (up from last week)

Condos/Townhomes: $797k (up from last week)

Multi-unit up to 4 units: $1.23 mil (up from last week)

- Average Sold Price (last 30 days)

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

Condos/Townhomes: $825k (down from last week)

Multi-unit up to 4 units: $1.2 mil (up from last week)

- Average days on market: 18 (slower than last week)

- Homes Sold in the last 7 Days: 235 (up from last week)

- Homes Sold in the last 30 Days: 931 (down from last week)

Contra Costa County as of 5/15/2024

- # of New Properties on Market Last 7 Days: 362 (down from last week)

- # of Properties Under Contract Last 7 Days: 225 (down from last week)

- # of currently Available Properties: 1,599 (up from last week)

- Average Listing Price

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

Condos/Townhomes: $745k (down from last week)

Multi-unit up to 4 units: $834k (down from last week)

- Average Sold Price (last 30 days)

Single Family: $1.3 mil (up from last week)

Condos/Townhomes: $724k (up from last week)

Multi-unit up to 4 units: $969k (down from last week)

- Average days on market: 18 (quicker than last week)

- Homes Sold in the last 7 Days: 196 (down from last week)

- Homes Sold in the last 30 Days: 940 (same as last week)

Marin County as of 5/15/2024

- # of New Properties on Market Last 7 Days: 98 (up from last week)

- # of Properties Under Contract Last 7 Days: 81 (up from last week)

- # of currently Available Properties: 484 (up from last week)

- Average Listing Price

Single Family: $2.13 mil (down from last week)

Condos/Townhomes: $851k (down from last week)

Multi-unit up to 4 units: $1.68 mil (down from last week)

- Average Sold Price (last 30 days)

Single Family: $2.4 mil (up from last week)

Condos/Townhomes: $1mil (up from last week)

Multi-unit up to 4 units: $1.66 mil (up from last week)

- Average days on market: 30 (quicker than last week)

- Homes Sold in the last 7 Days: 37 (down from last week)

- Homes Sold in the last 30 Days: 217 (down from last week)

If there's a specific city you would like to know about, please let me know!

Wishing you all a full-hearted, fun, and productive week!

Fondly,

Basak