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.
Key Takeaway
Oakland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
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
Key Takeaway
Homes in Oakland have sold for 5% less than they did a year ago.
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
Key Takeaway
If you're buying a home in Oakland, you could pay more than the asking price. 67.7% of homes here sold above asking price last month.
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
Key Takeaway
Many homes in Oakland are selling fast, if you're buying plan to act quickly.
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.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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