In the last 2 weeks, there’s anecdotal evidence that there are now more homes in the East Bay coming on the market. I’ve noticed a slight uptick in the number of Sunday Open Homes and Broker’s Open Houses.
That’s reflected in the most recent MLS data, where there is indeed an increase in the number of homes on the market. And that should be a relief to any Buyer trying to buy a home in Berkeley, Oakland, Alameda and environs. Specifically, in Berkeley today, there’s a little over a one month supply of homes, which is up from a two week supply in recent months. In Oakland, the increase of homes for sale is a little more noticeable … where there’s now a six week supply.
So the supply of homes in Berkeley, Oakland, Alameda … while still a short supply … is at least up from the extreme shortage of the last couple months. That means there will still be multiple offers on the most sought after properties --- just maybe not as crazy as it has been.
For a strategy to navigate this market – whether you might be buying or selling, just give me a call: 510-847-2409.
Originally posted on my Elmwood Home real estate blog here: http://elmwood-home.com/supply-homes-east-bay-picking-slightly/.