RE/MAX Accord's Market Report
El Cerrito, CA
Single-Family Homes
RE/MAX Accord | Outstanding Agents! Outstanding Results!
El Cerrito, CA
Thu Feb 21 2019
This week the median list price for El Cerrito, CA is $796,500 with the market action index hovering around 47. This is less than last month's market action index of 49. Inventory has held steady at or around 18.
Market Action Index
The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.
| Today |
| Last Month |
Strong Seller's Market
The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Real-Time Market Profile
| Median List Price | $796,500 | |
| Per Square Foot | $488 | |
| Days on Market | 98 | |
| Price Decreased | 11% | |
| Price Increased | 11% | |
| Relisted | 22% | |
| Inventory | 18 | |
| Median House Rent | $2,800 | |
| Most Expensive | $1,188,000 | |
| Least Expensive | $695,000 | |
| Market Action Index Strong Seller's Market | 47 |
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,036,500 | 2,595 | 8,000 - 10,000 sqft | 4 | 3 | 73 | 0 | 2 | 21 |
| $814,475 | 1,676 | 4,500 - 6,500 sqft | 3 | 2 | 63 | 1 | 1 | 264 |
| $749,000 | 1,232 | 4,500 - 6,500 sqft | 3 | 2 | 70 | 2 | 1 | 53 |
| $699,000 | 1,125 | 4,500 - 6,500 sqft | 2 | 2 | 70 | 0 | 2 | 74 |