Oakley Real Estate Insights – June 2024

Welcome to the Monthly Real Estate Insights for Oakley, CA, for June 2024. This update provides a comprehensive overview of the current market trends and changes in the real estate landscape for single-family residences. Staying informed about these trends is essential for making well-informed decisions whether you are a home buyer, seller, or real estate professional.

Top Takeaways

  • Market Index Score: The Market Index score for June 2024 is 50, indicating a balanced market.

  • Current Trends: The median list price has increased, while the average days on market have also increased, suggesting a cooling in market activity despite the high competition.

  • Mortgage Rates: The current 30-year fixed mortgage rate is 6.95%, a decrease from last month’s rate of 7.03%.

Market Overview

Key Metrics

  • Median List Price: $799,000 (up from $777,000 last month)

  • Median Price of New Listings: $777,000 (up from $710,000 last month)

  • Average Days on Market: 71 (up from 51 last month)

  • Median Days on Market: 42 (up from 28 last month)

  • Median Rent: $3,360 (up from $3,342 last month)

  • Market Action Score: 50 (unchanged from last month)

Analysis and Trends

The Oakley real estate market is currently balanced, with a Market Index score of 50. This balance reflects a stable market where both buyers and sellers have opportunities to negotiate favorable terms. Despite the slight cooling indicated by the increase in days on market, the market remains competitive.

Seller’s Perspective

For sellers, a Market Index score of 50 means there are still opportunities to gain favorable terms for their properties. The increase in median list price and new listings price suggests strong demand, enabling sellers to attract multiple offers and competitive pricing. Sellers should remain optimistic but realistic about their pricing strategies to maintain interest and competitiveness.

Buyer’s Perspective

Buyers in Oakley face a balanced market. The balanced nature of the market provides opportunities for negotiation and securing favorable terms. The slight decrease in mortgage rates to 6.95% is a positive development, potentially lowering monthly payments. Buyers should act decisively but also take advantage of the balanced market conditions to negotiate better terms.

Current Market Insights

An interesting fact about the current housing market in Oakley is the significant increase in the average days on market, which has risen to 71 days from 51 days last month. This increase suggests that while the market is competitive, buyers are taking more time to make decisions, indicating a more thoughtful and deliberate market environment.

Another noteworthy trend is the stability in the Market Action Score at 50, indicating a balanced market. This score suggests that both buyers and sellers have equal leverage, creating a fair environment for negotiations.

Future Outlook

Looking ahead, the Oakley real estate market is expected to remain balanced. The anticipation of steady interest rates and ongoing high demand suggests that both buyers and sellers will continue to find opportunities in the market. Buyers should remain vigilant and prepared to act swiftly, while sellers can expect continued strong interest in their properties.

The Oakley real estate market in June 2024 continues to be balanced with competitive dynamics and significant adjustments in pricing and days on market. Understanding these trends and the implications of the Market Index score can help all parties make better decisions. If you have any questions or need further assistance, please feel free to reach out. Your local real estate professional is here to help guide you through these times with expert advice and support.

Our analysis highlights a stable market in Oakley, poised for balanced activities among buyers and sellers. We encourage everyone in the market to consider these insights carefully and reach out with any questions or for further assistance.

For any questions or assistance with your real estate needs, feel free to reach out. Stay informed and stay ahead in the Oakley real estate game with Realty One Elite.

Additional Resources

For further insights into Brentwood's real estate market or for personalized advice, visit our insights page at www.findebhomes.com. . Stay informed about mortgage trends with the latest Freddie Mac 30-year rate update.