Take Your Pick

Market Update
Author

Kyle Paquin

Published

May 9, 2024

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Another month of more transactions with stable prices. Only Contra Costa is seeing some appreciation from March to April. Prices are higher than last year on average and homes are not sitting around on the market if priced right. Will we break the last years sales numbers in May?

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: 7%

Rates rose slightly which curbed a busy spring season. Buyers seem to be resilient so far but we will likely see a more muted summer unless rates go back down.

Refinance Volume: About the Same

Refi’s are becoming more common. Many lenders are now in the HELOC space and people still need cash to do their life.

East Bay Area Market Update

East Bay Area April Yearly Trends
Alameda, Contra Costa, Solano
2023 2024 % Change
Median Price 920000 1030500 12.0%
Average Price per SF 789 654 -17.1%
Number of Sales 1414 1686 19.2%
Median DOM 12 11 -8.3%
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 and we specialize in ADU valuation and advanced market analysis. 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