August Real Estate Update

Aug 15

Happy August!

Can you believe it’s already back-to-school season here in the East Bay?!

Summer seemed to fly by, and while the kids are getting ready to hit the books, we’re gearing up for a busy fall real estate season. We’re kicking things off with two great new Oakland listings—5671 Estates Drive, a bright midcentury retreat in Upper Rockridge and 2451 Carmel Street in Lincoln Heights, a sweet one-level bungalow on a tree-lined street.

Scroll down for a look at last month’s East Bay market metrics. July is always a little quieter (everyone’s in vacation mode!), but it’s still interesting to see how the market is moving compared to last year.

These are broad strokes; as we all know, no two homes are the same and each neighborhood has its own set of advantages and challenges. If you’re curious about what’s been selling recently in your neighborhood and how your home may compare—and/or want to know if it’s the right time for you to consider buying, please reach out. We’re always happy to talk about real estate!

Our Listings

Midcentury Retreat in Upper Rockridge
Open Saturday & Sunday
August 16 & 17 from 2-4pm

5671Estates.com

Bright Bungalow Living in Lincoln Heights
Open Saturday & Sunday
August 16 & 17 from 2-4pm

2451Carmel.com

Inner East Bay Market Update

JULY 2025 WRAP-UP

Following an active second quarter, the Inner East Bay housing market slowed down in July, which is typical for the summer season. While buyer activity eased from spring’s pace, core market fundamentals remain healthy. Historically, summer sees fewer new listings and a dip in buyer urgency, but fall often brings renewed momentum and fresh opportunities.

The median sales price ticked down 3.8 percent year over year to $1,125,000, showing some cooling after strong gains earlier in the year. Homes are still selling quickly, with the median days on market rising by just 2 days to 16, which remains a brisk pace. The median price per square foot dipped slightly by 0.3 percent.

Pending sales fell 15.5 percent, and closed sales decreased 11.5 percent. However, inventory grew modestly, with the number of homes for sale on the last day of July increasing 1.2 percent to 573. Despite this, the market remains competitive; over seven out of ten homes sold above their list price, with sellers receiving an average of 112.0 percent of asking, consistent with last year. The Months Supply of Inventory (MSI) recorded at 2.0, indicating a balanced but still relatively tight market.

Freddie Mac reported that the average 30-year fixed mortgage rate dropped to 6.63 percent, the lowest level since April. This decline improves buyers’ purchasing power, making it a favorable time to shop for homes.