eastbayhousingbubble.blogspot.com/2008/01/sfh-2007-data.html
Average Price per sqft Not suprisingly almost every area that is covered has seen a decrease in 2007 in the price per sqft. Some areas like Antioch, Clayton/Concord, and Hayward have seen > 13% declines in 2007. So there is data in here for houses that have not yet sold, but it does account for the sliding asking prices through the various regions. Oakland, Hayward, San Leandro, and Concord have also seem substantial drops in 2007. These are more leading indicators, as to where the market is going. Will it effect the rest of the East Bay like it has Antioch? Number of Sales Here we can see that each and every region is experiencing dramatic losses in numbers of sales. Even the safe havens of Lamorinda and Danville have been hammered by a 37% and 60% drop in the number of sales from Q1 to Q4 respectively. Also interesting to measure are the supply levels that are currenly listed on the market. Alamo, Danville, San Ramon have 438 homes or 12 month supply. Antioch has a stunning 1122 homes listed for a 36 month supply. Pleasanton has 145 homes or a 55 month supply Berkeley, Albany, Emeryville have 88 homes or 31 month supply. Fremont, Newark, Sunol have 621 homes listed or a 84 month supply. Listing to Sales Price Ratios Sliding number of buyers and numbers of sales also means the buyers are getting the houses for lower then asking price. Here is a graph of the data this shows some of the acceleration in the declines that are hard to see in raw numbers. Average Days on Market I'm not sure why some of the data is not available but, based on what I can find here's where things are heading. I think some of the lower numbers can be attributed to the fact that some sought after homes have come on the market at more reasonable prices, and the fact that only homes that people really want are selling anyway. I hope you can see from the data that we are no where close to the bottom of the market.
Those are the cities that I believe most people would think of when they hear "East Bay". Most of the cities you reference are in what's normally called the "Tri-Valley Area".
I've updated the charts with data from Berkeley, Hayward, Oakland, and Fremont. Hope this helps to shed a light on more of the price drops that are effecting the region.
Its interesting to know Antioch/Oakland took a nose dive, but the area I am looking just keeps the same rate(San Ramon). I still rent and think keep renting for couple more years :( Thanks again.
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