Local Real Estate Market* Update, Third Quarter 2023
Updated: Oct 1
563 homes were sold during the quarter ended September 30, 2023, down 25% from the 746 sold in the same period last year as inventory remained scarce. The median price fell 4% to $1,300,000, down from $1,350,000 in the same period last year as the rapid rise in mortgage rates began to impact affordability. Properties sold in 22 days on average during the current quarter, slightly slower than 21 days in the same quarter last year. At the date of this post, there are 415 homes available for sale (10 weeks of inventory) compared to 407 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 September 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