January 2025

In Alameda, 2024 ended with some big sale prices that really lifted the December average sale price to end the year with a bang. The top 6 highest sale prices out of 21 transactions in December ranged from $2,050,000 to $2,725,000. 

The top four highest selling months in Alameda 2024 based on average sale price were:
February at $1,618,916
May at $1,575,259
July at $1,527,292
December at $1,521,047

Keep in mind, these are the reported numbers which means the majority of the these came on market the month before.

The month that saw the highest sale price over list price was the month of April at 18% which means in that month the difference between the average list price of $1,223,600 and the average sale price of $1,422,079 was just under $200,000.

Houses were only on the market for 14 days in the month of March and 24 days in the month of March.  When a house takes six months to sell it’s considered a normal market. As you can see we have an inventory problem. When we have more buyers than we have sellers, the price will go up.  Now that the Fed has signaled fewer interest rates for 2025, buyers should expect to see mortgage rates remain in the 6% range.

Beware of Zillow and any other automated home value estimation as it distorts the market. These ballpark averages are based on the average home sale and the majority of the homes have been fixed up or really fixed up.  Few homes were sold in true “AS-IS” unimproved condition.  When considering the value of your property it’s critical to only draw comparisons with like for like properties in terms of location, condition and size.  Zillow has a huge margin of error because it can’t discern between a 3 bedroom fixed up house in the Gold Coast versus a 3 bedroom tear down in the West End.  If you’re looking to sell this year we can get you a no hassle cash offer in 48 hours or net you a significantly higher price even after broker fees.  If you would like a free no obligation home evaluation call us today at 510-846-4687.