Is Oakland, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$866,006
$605/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Oakland was $866,006 in March 2024, down 5% from last year, and the median price per square foot was $605.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $500K | $469K | -6.2% |
2 Bedrooms | $735K | $655K | -10.9% |
3 Bedrooms | $1.0M | $975K | -7.3% |
4 Bedrooms | $1.5M | $1.4M | -5.7% |
5+ Bedrooms | $1.5M | $1.3M | -15.6% |
Summary: Oakland housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.2%, 2 bedroom homes decreased by 10.9%, 3 bedroom homes decreased by 7.3%, 4 bedroom homes decreased by 5.7%, and 5+ bedroom homes decreased by 15.6%.
Median Sold Price Compared To Nearby Cities
Emeryville | $650K | $667.5K | +2.7% |
Alameda | $1.2M | $1.1M | -3.4% |
Piedmont | $2.6M | $2.4M | -4.9% |
Oakland | $911.8K | $866K | -5.0% |
Housing Supply in Oakland, CA
How many homes are available in Oakland, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
662 | 809 | +22.2% |
Summary: The Oakland real estate market had 809 homes for sale in March 2024, a 22.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 78 | 93 | +19.2% |
2 Bedrooms | 213 | 251 | +17.8% |
3 Bedrooms | 202 | 260 | +28.7% |
4 Bedrooms | 122 | 148 | +21.3% |
5+ Bedrooms | 47 | 57 | +21.3% |
Summary: The Oakland housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 19.2%, 2 bedroom homes increased by 17.8%, 3 bedroom homes increased by 28.7%, 4 bedroom homes increased by 21.3%, and 5+ bedroom homes increased by 21.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
147 | 206 | +40.1% |
Asking Price vs. Sold Price
40 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
126 Homes Were Sold
Over Asking
Summary: A total of 206 homes were sold or pending in Oakland in March 2024, up by 40.1% month-over-month. Of the 186 sold homes, 22% were sold under asking, 11% were sold at asking, and 68% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
30 Days | 30 Days | +1.3% |
Summary: Homes in Oakland had an average of 30 days on market in Mar 2024, up by 1.3% compared to last year.
Breakdown of Home Sale Times
139 Homes Were Sold
Under 30 Days
41 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Summary: During March 2024, 206 homes were sold in Oakland; 67% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.