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  • Writer's pictureDana Cohen

Local Real Estate Market* Update, Fourth Quarter 2023

Updated: Jan 1

575 homes were sold during the quarter ended December 31, 2023, similar volume to the 572 sold in the same period last year. The median price fell 3% to $1,263,000, down from $1,300,000 in the same period last year as the rapid rise in mortgage rates continued to impact affordability. For the full year, prices were down 8%. Properties sold in 23 days on average during the current quarter, slightly faster than 24 days in the same quarter last year. At the date of this post, there are 166 homes available for sale (4 weeks of inventory) compared to 158 homes at this time last year.

*detached homes in Albany, Berkeley, El Cerrito, Kensington, Piedmont and Oakland zip codes 94602, 94605, 94608, 94609, 94610, 94611, 94612, 94618, 94619. Based on information from the MLS as of December 31, 2023. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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