Top Real Estate Agents in Oakland, California

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2023 Oakland, California Housing Market Summary

Oakland, California started 2023 with a total of 214 single-family homes on the market, with a median home price of $748,000 and an average price per square foot of $560. By the end of the year, inventory had increased to 216 homes on the market (+0%), with a median home price of $789,000 (+5%) and an average price per square foot of $590 (+5%).

At the start of 2023, the median days on market (DOM) was 84 days – by the end of the year, median DOM had decreased to 70 days.

Oakland started the year with 36% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 38% of Oakland homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Oakland started 2023 as a strong seller’s market, with an MAI score of 57; by the end of the year, the MAI had dropped to 49 – a strong seller’s advantage.

This market summary is powered by Altos Research – click here to run a free report for your area.

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