Your Weekly San Francisco Bay Area Market Update - July 31, 2024

Good evening!

We're experiencing a very pleasant summer season right now in the Bay Area, and I hope you're all taking advantage of the beautiful place we live in, such as visiting Napa Valley and its wineries on the weekends!

With that... here's this week's market update! 

REAL ESTATE MARKET SNAPSHOT (based on local BridgeMLS data)

Alameda County as of 7/31/2024

• Months Supply of Inventory: down from last week: 2.1 months (was 2.3) - still a sellers' market

• # of New Properties on Market Last 7 Days: down from last week: 418 (was 430)

• # of Properties Under Contract Last 7 Days: up from last week: 246 (was 228)

• # of currently Available Properties: down from last week: 2,109 (was 2,148)

• Median Listing Price

  Single Family: down from last week: $1.15mil (was $1.2)

  Condos/Townhomes: up from last week: $680k (was $674k)

  Multi-unit up to 4 units: same last week: $1mil

• Median Sold Price (last 30 days)

  Single Family: down from last week: $1.3mil (was $1.34mil)

  Condos/Townhomes: down from last week: $725k (was $738k)

  Multi-unit up to 4 units: down from last week: $1mil (was $1.1mil)

• Median days on market: slightly slower than last week: 14 (was 13)

• Homes Sold in the last 7 Days: slightly up from last week: 225 (was 221)

• Homes Sold in the last 30 Days: up from last week: 979 (was 940)

Contra Costa County as of 7/31/2024

• Months Supply of Inventory: same as last week: 2.3 months - still a seller's market

• # of New Properties on Market Last 7 Days: down from last week: 359 (was 370)

• # of Properties Under Contract Last 7 Days: up from last week: 313 (was 250)

• # of currently Available Properties: down from last week: 1,899 (was 1,914)

• Median Listing Price

  Single Family: slightly up from last week: $929k (was $925k)

  Condos/Townhomes: down from last week: $580k (was $627k)

  Multi-unit up to 4 units: down from last week: $650k (was $1.1mil)

• Median Sold Price (last 30 days)

  Single Family: up from last week: $925k (was $913k)

  Condos/Townhomes: down from last week: $608k (was $620k)

  Multi-unit up to 4 units: up from last week: $900k (was $880k)

• Median days on market: slower than last week: 17 (was 15)

• Homes Sold in the last 7 Days: up from last week: 183 (was 171)

• Homes Sold in the last 30 Days: down from last week: 839 (was 849)

   

Marin County as of 7/31/2024

• Months Supply of Inventory: same as last week: 1.9 months - still a seller's market

• # of New Properties on Market Last 7 Days: down from last week: 53 (was 63)

• # of Properties Under Contract Last 7 Days: down from last week: 56 (was 64)

• # of currently Available Properties: slightly down from last week: 421 (was 423)

• Median Listing Price

  Single Family: down from last week: $1.4mil (was $1.65mil)

  Condos/Townhomes: up from last week: $849k (was $822k)

  Multi-unit up to 4 units: $1.5mil

• Median Sold Price (last 30 days)

  Single Family: down from last week: $1.55mil (was $1.7mil)

  Condos/Townhomes: up from last week: $819k (was $812k)

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

• Median days on market: slower than last week: 33 (was 28)

• Homes Sold in the last 7 Days: up from last week: 50 (was 43)

• Homes Sold in the last 30 Days: down from last week: 218 (was 227)

As always, if there's a specific city or neighborhood you're interested in, please let me know!

Have a wonderful week!

Best,
Basak