Oakland, CA local notes, issue 1
Oakland's median sale price was $772,632 this month, down 3.7% from last month, while homes for sale rose 13% to 741. Redfin's figures show more choice for home sellers.
Prices and sales this month
These figures are this month's, from Redfin. The median sale price of homes sold in Oakland was $772,632. That is down 3.7% from last month.
Homes sold came to 250, down 3.5%. Fewer closings at a lower price suggest a cooler month than last month. The median price per square foot was $533, down 0.9%.
Homes that sold took a median of 21 days on the market, down 4.5%. So homes that did sell moved a little faster, even as the price fell.
Inventory and supply
Homes for sale at the end of the month numbered 741, up 13%. New listings came to 336, up 7%. Months of supply stood at 3, up 15.4%.
The share of homes for sale that cut their price was 21.1%, up 1.5 points. The share of homes that sold above asking was 64.1%, up 1.1 points.
What it means for you
More homes for sale and fewer sales give home sellers more to compare. When you talk with a seller, start with the 741 homes for sale and explain how their home sits among them.
A worked example: a seller sees a price cut on a nearby home. You can say 21.1% of homes for sale cut their price, and that 64.1% of homes that sold went above asking. Both are true at once.
This note carries no AI answer figures for Oakland, so it states none. Compare Oakland with the rest of California on your own market pages.
Data provided by Redfin, a national real estate brokerage.