Your Real Estate Market Update
Oakland, CA 94602
Single-Family Homes
The Most Powerful Market Insights from Arcus Homes
Oakland, CA 94602
Thu May 02 2024
This week the median list price for Oakland, CA 94602 is $872,500 with the market action index hovering around 59. This is an increase over last month's market action index of 57. Inventory has increased to 36.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.
Real-Time Market Profile
| Median List Price | $872,500 | |
| Median Price of New Listings | $1,049,000 | |
| Per Square Foot | $653 | |
| Average Days on Market | 25 | |
| Median Days on Market | 7 | |
| Price Decreased | 25% | |
| Price Increased | 8% | |
| Relisted | 8% | |
| Inventory | 36 | |
| Median Rent | ||
| Market Action | 59 | |
| Strong Seller's Market | ||
Prices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out of that cycle.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $1,395,000 | 1,926 | 4,500 - 6,500 sqft | 3 | 2 | 90 | 2 | 2 | 7 |
| $1,049,000 | 1,610 | 4,500 - 6,500 sqft | 3 | 2 | 98 | 4 | 2 | 7 |
| $799,000 | 1,236 | 0 - 4,500 sqft | 2 | 2 | 100 | 3 | 3 | 7 |
| $675,000 | 1,084 | 0 - 4,500 sqft | 2 | 1 | 100 | 2 | 0 | 42 |