Is Oakland, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Oakland has remained a Seller's Market.
Housing Prices in Oakland, CA
How much do homes in Oakland, CA cost?
Median Sold Price
$877,533
$606/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Oakland was $877,533 in May 2024, down 1.2% from last year, and the median price per square foot was $606.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $492.5K | $465K | -5.6% |
2 Bedrooms | $717.1K | $650.4K | -9.3% |
3 Bedrooms | $1.0M | $997K | -1.5% |
4 Bedrooms | $1.4M | $1.4M | -3.8% |
5+ Bedrooms | $1.4M | $1.4M | +1.7% |
Summary: Oakland housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.6%, 2 bedroom homes decreased by 9.3%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes decreased by 3.8%, and 5+ bedroom homes increased by 1.7%.
Median Sold Price Compared To Nearby Cities
Emeryville | $672K | $700K | +4.2% |
Alameda | $1.1M | $1.1M | +2.7% |
Oakland | $888.1K | $877.5K | -1.2% |
Piedmont | $2.6M | $2.5M | -4.2% |
Housing Supply in Oakland, CA
How many homes are available in Oakland, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
838 | 1,047 | +24.9% |
Summary: The Oakland real estate market had 1,047 homes for sale in May 2024, a 24.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 94 | 115 | +22.3% |
2 Bedrooms | 239 | 295 | +23.4% |
3 Bedrooms | 295 | 363 | +23.1% |
4 Bedrooms | 145 | 192 | +32.4% |
5+ Bedrooms | 65 | 82 | +26.2% |
Summary: The Oakland housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 22.3%, 2 bedroom homes increased by 23.4%, 3 bedroom homes increased by 23.1%, 4 bedroom homes increased by 32.4%, and 5+ bedroom homes increased by 26.2%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
208 | 220 | +5.8% |
Asking Price vs. Sold Price
38 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
147 Homes Were Sold
Over Asking
Summary: A total of 220 homes were sold or pending in Oakland in May 2024, up by 5.8% month-over-month. Of the 201 sold homes, 19% were sold under asking, 8% were sold at asking, and 73% were sold over asking.
Days on Market for Oakland, CA
How long does it take to sell a home in Oakland, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
29 Days | 25 Days | -15.1% |
Summary: Homes in Oakland had an average of 25 days on market in May 2024, down by 15.1% compared to last year.
Breakdown of Home Sale Times
155 Homes Were Sold
Under 30 Days
47 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During May 2024, 220 homes were sold in Oakland; 70% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.