Happy New Year

Market Update
Author

Kyle Paquin

Published

January 3, 2024

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Winter continued to be busier this year compared to 2023. We saw slightly more sales in Alameda from Nov to Dec but less in other counties though on average homes took longer to sell this December than in 2023.

Mortgage and Me

This section is the summary of the ongoing sitcom, “Mortgage and Me”, where you get news of what the banks are doing and how it affects us all.

Mortgage Rates: Starting off High

As the year wraps, we can see most rate forcasts were highly optimistic as we start the new year with rates around 7%. Many news outlets are claiming that people are “getting used to” the new rate environment. Is that true? I am not seeing it.

Refinance Volume: Asleep for the Holidays

When Christmas is around, the public is thinking about buying presents and food for big meals- not a refinance. That isn’t a surprise.

East Bay Area Market Update

East Bay Area December Yearly Trends
Alameda, Contra Costa, Solano
2023 2024 % Change
Median Price 867538 900000 3.7%
Average Price per SF 578 587 1.6%
Number of Sales 1094 1300 18.8%
Median DOM 18 22 22.2%
Copyright © EBValueReport.com

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About the Author

My name is Kyle Paquin.

I have been a Certified Residential Real Estate Appraiser since 2015 within the East San Francisco Bay Area. My firm provides expert valuations on residential properties in the region. I have a passion for teaching and appraiser education which has led me to develop instructional courses for the Real Estate Appraisers Association (REAA). I currently live in Benicia where I operate a mid-term rental ADU with my wife and child.

The divide between agents, appraisers and lenders is not healthy for our clients. I aim to bridge the gap between us all so we can serve the market with a higher level of trust, integrity and knowledge. The mission of this blog is to provide greater clarity into how the East Bay Area markets are moving on a monthly basis. If you like this work or think that it sucks, please let me know.

My contact information

Office #: 925-937-3307

Email: office@valuableappraisal.com

Website: https://www.valuableappraisal.com/

Thanks for reading this market update