February 2025 East Bay Real Estate Market Watch

Welcome to the February edition of the market watch. We are closely tracking the number of new listings and the number of sales each month. Usually December / Jan and most of February are slower months for real estate. Slower in the sense there are typically fewer new listings and subsequently fewer new contracts than busier months. This February however, we saw a big jump in new inventory when looking at year over year numbers. But the month over month increase in inventory showed little to no change in the areas sampled.

We believe that this is due in large part to the very very wet beginning we had in 2024. Bad weather is no bueno for showing properties, photography, landscaping, and touring homes. 

So how is the market? 

Average days on market suggests the market place is fairly balanced. The homes that sell are still doing so on average above asking. How much depends on the condition of the property and where it is located. Alameda County is seeing more competition represented by the average dollar amount of 80K over list compared to CoCo counties 21K.

We expect more of the same as the year unfolds - pay close attention to interest rates. When rates dip below 6% our experience is there are more buyers entering the market. Here is a link to Mortgage News Daily - which shows the national average for rates.

If you have a question about a specific area or property please reach out!

Eli and Bill

Month over month housing statistics for Alameda County, Contra Costa County, Oakland, Berkeley, Martinez, and Pleasant Hill

Year over year housing statistics for Alameda County, Contra Costa County, Oakland, Berkeley, Martinez, and Pleasant Hill