DataMarkets & Economy

Is the East Bay real estate market cooling off?

Bay East Association of Realtors reports a sales price dip across nearly 25 percent of its communities
  • Inventory increased among many East Bay communities, with notable gains in Dublin, El Sobrante and San Lorenzo.
  • Units sold decreased in most communities, while Albany, El Sobrante and Clayton saw a significant increase in July 2016.
  • Median sales prices grew in all areas of the Tri-Valley area and Delta.

Inventory throughout the East Bay has been climbing, pushing some area home prices down. This July, according to the August 2016 Real Estate Weather Report by the Bay East Association of Realtors, home sales prices in nearly 25 percent of East Bay communities were trending downward on an annual basis. The biggest drop in median sales price was reported in Hercules in West Contra Costa, where prices dipped 13 percent. West Contra Costa saw the most wide-spread impact on housing prices. Four of the six communities reported negative trends in July compared with last year. El Cerrito, El Sobrante and Pinole also saw falling prices. El Sobrante did however see a 57 percent increase in units sold in July and 94 percent increase in units listed, suggesting the dip in prices isn't anything concerning. Pinole also had a surge of 75 percent for units listed. The only areas that saw overwhelmingly positive price trends were the Tri-Valley and Delta. Brentwood saw the largest pr...