July 2024 - Greater Bay Area - Market Update

July 2024 - Greater Bay Area - Market Update

Proxima Realty Group

Happy July!

As we dive into the heart of summer, we have a lot to celebrate. Congrats to those who received Dream For All Vouchers from the California Housing Finance Agency!! This wonderful program is helping thousands of first-generation Buyers enjoy the dream of home ownership.

With Independence Day fireworks lighting up the sky and the warmth of the season encouraging outdoor gatherings, July is a month filled with joy and community spirit. The Fourth of July, also known as Independence Day, holds great significance in the United States as it commemorates the adoption of the Declaration of Independence on July 4, 1776. This historic document marked the thirteen American colonies' declaration of independence from British rule. We celebrated with various festivities, including fireworks, parades, barbecues, and patriotic displays, symbolizing the birth of American freedom and the enduring values of liberty and democracy.

Summer is a season that holds special significance for many reasons. It marks a time of warmth, longer days, and abundant sunshine, encouraging outdoor activities and social gatherings. For families, it's often a period of vacations and creating lasting memories with children out of school. In the real estate market, summer is a busy season, with increased buying and selling activity as people take advantage of the good weather to move and settle into new homes. It's also a time for home improvements and landscaping projects, making properties more attractive and enjoyable. Overall, summer embodies a sense of vitality, relaxation, and opportunity.

Happy Summer!

- Tia Hunnicutt, LIC #01840070


My Tiny Trick for Saving Hundreds on My Summer Electric Bill (It Keeps Me Cool!)

Paved side yard beside a wood-sided home, with an outdoor HVAC unit and potted plants.

It’s so convenient.

READ ARTICLE

 

What’s Behind a Microtrend?

Woman seated on a mustard chair beside a large wooden cabinet.

AD’s senior digital design editor weighs in on social media discourse, the proliferation of “-cores,” and what today’s trend reporting is lacking

READ ARTICLE

 

Five ways to flip a property successfully

Modern two-story home with glass balconies and a family standing on the landscaped lawn.

If you love real estate and want to earn profits from making deals and building a property portfolio, the allure of house flipping is undeniable.

Who hasn't dreamt of transforming a diamond in the rough into a stunning home, reaping a tidy profit in the process?

READ ARTICLE

 

San Francisco Market Data

Bay Area market update: $1.4 million median sale price, 107% list-to-sold, 375 sold and 564 new listings.

 

Listing Volume for San Francisco

Bar chart comparing new and sold listings from April through June, with both declining in June.

 

Oakland Market Data

July 2024 housing market figures: median sale price, list-to-sold ratio, sold listings, and new listings, all down.

 

Listing Volume for Oakland

Bay Area listings chart: new listings peaked in May, while sold listings declined in June.

 

Livermore Market Data

Housing market statistics: $1,177,500 median sale price, 102% list-to-sold ratio, 164 sales, and 212 new listings.

 

Listing Volume for Livermore

Bar chart comparing new and sold listings from April to June, with both series peaking in May.

 

San Jose Market Data

Bay Area market update showing median sale price, list-to-sold price, sold listings, and new listings with monthly comparisons.

 

Listing Volume for San Jose

Bar chart of Bay Area new and sold listings from April to June, with new listings peaking in June.

 

Sacramento Market Data

July housing market metrics: $510,000 median sale price, 101% list-to-sold, 307 sold listings, and 45 new listings.

 

Listing Volume for Sacramento

Bar chart comparing new and sold listings from April through June; sold listings exceed new listings each month.

 

Featured Oakland Listings

Bright living room with large windows, a black leather sofa, and a patterned rug.

 

2525 CHURCH ST

OAKLAND

2 bedrooms | 1 bathroom | 861 sqft
$459,000

Discover this unique, two bedroom, one bathroom home with a massive back yard with new fencing that’s just waiting to be transformed into your very own urban oasis. This updated, hidden gem combines timeless charm with a thoroughly renovated kitchen with new countertops, new appliances, new flooring, and all of the amenities. Step inside and discover a unique blend of character and sophistication with the inviting floorplan which boasts stunning period details, custom built-ins, original hardwood floors, and abundant natural light. The updated bathroom features new fixtures, new tile, and new flooring. This lovely home is topped off with a new garage door and a new driveway. Commuting and running errands is made simple as the home is located with proximity to transit as well as schools and the shops and restaurants of the bustling Bancroft business district. Sewer compliant!! Open Saturday, 1pm to 3pm

REQUEST A PRIVATE SHOWING

 

Green two-story house with white trim, fenced backyard, raised garden beds, and a bright white kitchen.

1432 12TH ST

OAKLAND

6 bedrooms | 4 bathrooms | 1,918 sqft
$939,000

This recently renovated, West Oakland duplex boasts a full three bedrooms and two baths in each unit. An outstanding opportunity for an owner occupant or for an investor offering spacious living quarters with a touch of old-world charm. Featuring original architectural details, ample natural light, new kitchens and bathrooms and a convenient location, this property is perfect for those seeking both character and modern comfort. Upgrades include: completely rebuilt front steps, new washer/dryer, new stove, refinished tub, new shower/tub tile, new light fixtures, new kitchen countertops, new dishwasher, new shower door installed, new dehumidifiers installed with continuous drainage to outside, new exterior foundation slab waterproofing added, installation of drought tolerant patio and trees), new steel privacy door/gate, new wooden gate. EV car charger and Sewer compliant! Offering memorandum available by request.

REQUEST A PRIVATE SHOWING

 

Fractional Ownership Opportunity

3028 Colby St Deal Highlights:

  • Cash generator with 6% CAP from day 1 with fully occupied student housing multifamily
  • Investor able to get 8% - 9% COC annually based on current rent data
  • With rent raise upside, investor able to have higher return and appreciation potential immediately without any effort of renovation
  • Contact Tia for details

 

Investment summary for 3028 Colby St., with a blue Berkeley building and projected returns for fractional ownership.

Home entrance with yellow gabled roof, arched windows, and open doors; marked pending at 5729 Buena Vista Ave.

Living room with a gray sectional, white coffee table, and floor-to-ceiling windows overlooking trees.

Blue banner reading “PRIMIATY IMAGE GENERRIBUTS” above an empty outlined rectangle.

An armed figure stands in a glowing stone archway inside a dark underground chamber.

Furnished living room with a gray sofa, open white kitchen, brick wall, and black metal staircase; marked SOLD.

 

Broker Tia Hunnicutt in glasses and a black-and-white patterned blouse.

 

Let‘s Connect

Contact Us today to discuss all your real estate needs!