2025-06-22 -- Middle East war taking its toll.
The Middle East war is sure taking its toll on the East Bay real estate market. While places like Albany appear to be unfazed at just 4 weeks of inventory on the market at the current level of weekly demand, and Alameda appears to be sort of neutral at 9 weeks, there are other cities that are not so fortunate, with Oakland at 13.5 weeks and Walnut Creek at almost 15 weeks. On aggregate, we have almost 13 weeks of inventory on the market. We have surpassed this level only in late 2022 over the past 5-1/2 years. See chart.
Setting aside the listings that are less than 2 weeks old, since I think of them as “new” listings, you can see that approximately 45% of the currently active listings in the East Bay have witnessed price reductions. See chart. Here is the percentage of Active listings (by City) that have seen price reductions. See chart.
New listings continue to outpace the pending listings giving Buyers the edge at the macro level on prices. See chart.
30-year mortgage rates have been moving in a tight band thus far. See chart. But that could change next week as the fallout from the Middle East war continues to sink into the psyche. We shall see.
And finally, thank you for checking in. Feel free to reach out to me if you are interested in discussing the sale of your property or the purchase of one anywhere in the San Francisco East Bay. I can be reached at 510-523-0707. Alternatively, you can email me here. Cheers!
