Oakland Home Prices Down in October

"In October, home prices fell moderately from the month before, with a median listing price of $649,475. The number of listings on the market remained practically unchanged from last month, but it is a smaller increase than normal for this time of the year in Oakland, and homes are also selling close to the same pace as the same time last year."

"Typically, home price per square foot in Oakland tend to rise in October. But the most recent data shows that the price per square foot decreased by 0.3% compared with the month before. So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 0.8%, which means price changes in Oaktown are smaller the national market."

"In October, there were 726 homes for sale in Oakland, which was 0.6% more than the month before and 9.0% less than the same time last year. Meanwhile, active inventory across the nation remained practically unchanged from last month to 1,100,001. The number of new listings in Oakland was 262, which was 35.1% less than the month before and 7.1% less than the same time last year. Nationally, the number of new listings fell by 2.7% from last month to 384,264."

Median listing price in Oakland was $649,475 in October, representing a moderate decline from the prior month. Price per square foot in Oakland fell 0.3% month-over-month, compared with a 0.8% national decline, indicating smaller local decreases. Active inventory totaled 726 homes, up 0.6% month-over-month and down 9.0% year-over-year. New listings numbered 262, down 35.1% month-over-month and 7.1% year-over-year. Homes averaged 43 days on market in Oakland, two days longer than the previous month and two days shorter than the same month last year. Nationally, active inventory remained near 1,100,001 and average days on market were 63.

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