Oakland Ca Homes For Sale Market Comparison Report (December 2009 Vs. December 2008)
We analyze several housing market indicators in order to present an in-depth breakdown of Oakland Ca Homes for Sale Market comparing December 2008 to December 2009.
Summary of Key Points
Oakland Ca Homes for Sale essentially showed no change from Dec 08 – 09
Median Sales Price (-2.73%), Median Days on Market (-31.43%), and Number of Units Sold (-2.32%)
Big Picture: Oakland followed the general trend displayed in the East Bay housing market – minor drop in median sales price, increase in median days on market and a minor drop as well in units sold
Oakland Ca Homes for Sale
The city of Oakland experienced a 2.73% decrease in median sales price from last year going down from $338,497 (Dec. 08) to $329,260 (Dec. 09). A $9,000 decrease in median sales price is hardly significant, thus we need to take a closer look at some additional statistics in order to determine how Oakland ca homes for sale fared over the course of a year. Median days on market data for Oakland shows that houses are selling faster than Dec 08. It took 50 days in Dec 08 for a house to sell and for Dec 09 that number has gone down to 34 days (a 31.43% improvement). We cannot be so brash as to attribute the change to a $9,000 drop in median sales price, so for now let’s take a look at unit sales and see where that takes us. In the month of Dec 08, 302 units were sold compared to 295 for Dec 09 – 2.32% change which is hardly noteworthy. In the end, it is important to note that Oakland’s housing market has not shown much change from Dec 08 – 09 except in median days on market category.
Unlike Oakland neighbors Dublin and Danville both suffered a significant drop in median sales price. Dublin ca homes for sale featured a 10.42% drop and Danville ca homes for sale saw a 15.60% drop. Like Oakland, both cities saw a drop in median days on market at 44.68% for Dublin and 34.95% for Danville. In the units sold category Dublin sold 1 more unit in Dec 09 than 08 however Danville was the real winner here showing a massive 294.12% increase in units sold (17 in Dec 08 to 67 in Dec 09).
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