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Oakland Real Estate

Oakland Real Estate

Oakland is the eight largest city in the state of California, located in the popular Bay Area, also known as the East Bay. Known for being across from another great California city, San Francisco, it is the 41st largest city in the country, boasting a population of over 446,000. It is also known to be one of the most ethnically diverse cities in the nation, providing for a wide range of cultural lifestyles.

Being close to such a culturally important center for the United States, Oakland real estate may prove to be among the most diverse markets in the nation. However, recent Oakland, California real estate trends seem to have decline from what was once a fairly steady market.

Recent numbers have shown a decrease in the overall average of the listing prices in the area, leaving the listing prices around $467,000. However, the actual average sales price in Oakland real estate has proven to be on the rise quite significantly, at about $246,000, almost an increase of 32% from previous years. Current sales rates for Oakland, California real estate are about 50%, with an average of about 3,600 homes on the market at any given time, with a closing and selling of about 1,200.

This trend may prove to show a rise of economic trends with the city. Currently, some of the most popular neighborhoods in the Oakland real estate market are Upper Rockridge, McClymonds, and Sequoyah.

NEXT: Orange County Real Estate

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