April 2023

On a yearly basis, the Bay Area region’s median home price is down 13% compared to March 2022 — a reflection of tech layoffs, recession fears and rising mortgage rates battering home values during the second part of last year after they ballooned during the pandemic buying boom. The rate increases spiked monthly home payments, sometimes by thousands of dollars, squeezing many would-be buyers out of the market. In Alameda, single family home average sale prices have decreased by 15% from April 2022 to April 2023 making it very advantageous for buyers. While sellers aren't getting last year's sale prices, Alameda is still very much in a Seller's Market as 24 out of the 28 homes that sold in April 2023 only took 0 days to 19 days to accept an offer. Nearly all of the homes were painted, cleaned and in move-in condition.