Greater Oakland-Berkeley, Inner East Bay Real Estate
April 2021 Report
Q1 is typically a slower quarter, its sales and sales prices mostly reflecting activity during the mid-winter holiday “doldrums,” as the market gradually wakes up in the new year. But there were no doldrums this winter and the first quarter quickly accelerated into a very competitive, high demand/low supply market.
Interest rates, though still extremely low by bhistorical standards, have climbed 20% since their all-time low in January. Within this report, market statistics on cities and neighborhoods follow the regional analyses.
Q1 2021 vs. Q1 2020, Selected Statistics
- Median house sales price up 21%
- Median condo sales price down 1%
- Home sales volume up 49 %
- Higher-price home sales up 142%
Besides appreciation, the huge increase in higher-price home sales was a factor in the jump in the median house sales price.
Statistics are generalities, essentially summaries of disparate data generated by dozens, hundreds or thousands of unique, individual sales. They are best seen not as precise measurements, but as broad, comparative indicators, with reasonable margins of error. Anomalous fluctuations in statistics are not uncommon, especially in smaller markets with fewer sales. Q1 2021 numbers are estimates using data available in early April: Late reported sales may alter these numbers. Data from sources deemed reliable, but may contain errors and subject to revision. All numbers are approximate.