East Bay Real Estate News: Early Summer 2016
Summer is traditionally the high season for real estate sales. Summer 2016 is proving to be no exception for the East Bay real estate market. The most recent market reports available are for May, and the expansion of East Bay home sales is clear. The majority of East Bay communities are in Contra Costa County. Alamo, Blackhawk, Danville, Diablo, and San Ramon are all in Contra Costa. For May, the median home price in the county was just over $633,000. This is a jump of 7.3% from April 2016 and 13.7% from May 2015. High prices have been pushing home sales down in comparison to last year. In Contra Costa County, sales are down 9.6% from last year. However, low mortgage rates are helping to rally sales, and there was an increase of 14.2% from April of this year. Homes continue to sell quickly. Contra Costa County homes spend a median of 18 days on the market. This is down 0.7% from April and 3.1% from last year.
East Bay Home Sales Are Growing
The real estate market in each city has its own trajectory. The median sale price of a home in Danville sold in the last 30 days is $1.15 million, and Danville homes spend a median 31 days active on our website. For San Ramon, the median sold price for the last 30 days is about $936,000. San Ramon homes spend a median of 21 days active on our site.
Alameda County is also considered an East Bay county. It shows similar patterns as Contra Costa County. Dublin and Pleasanton are both in Alameda County. For May 2016, the median home price was just over $843,000. This was an increase of 2.8% from April and 10.4% from May of last year. Home sales are down in the county from last year, with a decrease of 8.2%. However, this area of East Bay real estate is seeing a similar rally in sales as Contra Costa County, with an increase of 13.2% from the previous month. Alameda County homes also spend a median of 18 days on the market.
For the last 30 days, homes in Dublin have been sold for a median price of $826,000, having spent a median of 20 days on the website. In Pleasanton, the median sales price is $985,000. Homes in the city spend a median of 33 days on the website.
The East Bay real estate market is quick and competitive. Feel free to get in touch with our office to discuss the market in your area.