Local Real Estate Market* Update, Second Quarter 2023

596 homes were sold during the quarter ended June 30, 2023, down 37% from the 948 sold in the same period last year as inventory remained scarce. The median price fell 13% to $1,350,000, down from $1,560,000 in the same period last year as the COVID induced buying frenzy began to subside. Properties sold in 21 days on average during the current quarter, slower than 14 days in the same quarter last year. At the date of this post, there are 269 homes available for sale (6 weeks of inventory) compared to 352 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 June 30, 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