Alameda County: Home Prices at All-Time High
Alameda County, along with San Mateo and Santa Clara Counties, has posted an all-time high for median home prices. According to The Mercury News's reporting on May 26, 2017, the typical previously owned home in Alameda County is selling for $805,000.
So why the drop in number of homes sold? Number of homes sold has dropped 9.4% regionwide compared to last year. Inventory is low, as some would-be buyers find they could no longer afford the home they currently live in if bought at present-day prices. Pricey abodes have discouraged move-ups and lateral moves.
The good news? It's a seller's heyday. For buyers, it's a more competitive, multiple offer market that lends itself to cooperation with your real estate agent to stay on top of listings as soon as they come on the market.