Your Weekly Market Update - May 22, 2024

Happy Wednesday!

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!
 
INTEREST RATES  - down from last week

• Conventional: 6.5 – 7.125% (depending on loan amount)
• Jumbo: 6.75 - 6.875% (depending on loan amount)
• FHA: 5.99%
• VA: 5.99%
• Conventional Investment: 7.125% 

 
REAL ESTATE MARKET SNAPSHOT
Note: I am going to use "median" (vs. "average") list and sold prices moving forward as it's more indicative of market trends.

Alameda County as of 5/22/2024

• # of New Properties on Market Last 7 Days: 490 (same as last week)
• # of Properties Under Contract Last 7 Days: 239 (up from last week)
• # of currently Available Properties: 1,981 (up from last week)
• Median Listing Price
  Single Family: $1.15 mil (down from last week)
  Condos/Townhomes: $635k (down from last week)
  Multi-unit up to 4 units: $995k (down from last week)
• Median Sold Price (last 30 days)
  Single Family: $1.38 mil (same as last week)
  Condos/Townhomes: $756k (down from last week)
  Multi-unit up to 4 units: $1.2 mil (up from last week)
• Median days on market: 15 (quicker than last week)
• Homes Sold in the last 7 Days: 229 (down from last week)
• Homes Sold in the last 30 Days: 973 (up from last week)
  
  

Contra Costa County as of 5/22/2024

• # of New Properties on Market Last 7 Days: 385 (up from last week)
• # of Properties Under Contract Last 7 Days: 242 (up from last week)
• # of currently Available Properties: 1,617 (up from last week)
• Median Listing Price
  Single Family: $1.05 mil (up from last week)
  Condos/Townhomes: $665k (up from last week)
  Multi-unit up to 4 units: $1.1 mil (up from last week)
• Median Sold Price (last 30 days)
  Single Family: $935k (down from last week)
  Condos/Townhomes: $646k (down from last week)
  Multi-unit up to 4 units: $915k (down from last week)
• Median days on market: 10 (quicker than last week)
• Homes Sold in the last 7 Days: 231 (up from last week)
• Homes Sold in the last 30 Days: 975 (up from last week)
  
  

Marin County as of 5/22/2024

• # of New Properties on Market Last 7 Days: 111 (up from last week)
• # of Properties Under Contract Last 7 Days: 78 (down from last week)
• # of currently Available Properties: 523 (up from last week)
• Median Listing Price
  Single Family: $2.1 mil (up from last week)
  Condos/Townhomes: $851k (up from last week)
  Multi-unit up to 4 units: $2.85 mil (up from last week)
• Median Sold Price (last 30 days)
  Single Family: $1.9 mil (down from last week)
  Condos/Townhomes: $800k (up from last week)
  Multi-unit up to 4 units: $1.5 mil (same as last week)
• Median days on market: 13 (quicker than last week)
• Homes Sold in the last 7 Days: 64 (up from last week)
• Homes Sold in the last 30 Days: 233 (up from last week)

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

Wishing you all a wonderful week and weekend ahead!

Fondly,
Basak