We've had SF on the couch. Now it's time for Oakland's analysis. We see some fairly serious issues, folks. Be warned.
Single-family homes
The big story in Oakland is the lack of homes available. In March of this year, Oakland offered just 253 homes for sale. This is down 7% from February and (are you sitting down?) 59.1% from the March of 2012. Both list and sold prices are up in response and we must beg you again to sit down-- because they're up over 70% year-over-year.
[Data via Redfin]
Condos
Oakland condos are going extinct, it seems, if March figures are anything to go by. With just 30 units on the market, March numbers showed a dip in inventory of almost 50% month-over-month and over 80% year-over-year. The median list price didn't respond to this shortage as dramatically as the sold median price, which is up 53.4% from March of 2012.
[Data via Redfin]
April a cruel month for buyers?
[Data via Redfin]
This graph shows sale-to-list, price per-square-foot for sold homes, and listing prices through the first week of April, 2013. All are on their way up for April. With such inventory numbers, how could they be anything else?
· Oakland Market Trends [Redfin]
· Monthly Analysis: March Price Trends for SF [Curbed SF]
· All monthly analysis coverage [Curbed SF]
· Red Hot Oakland [Curbed SF]