May 2024 - Greater Bay Area - Market Update

May 2024 - Greater Bay Area - Market Update

Proxima Realty Group

Welcome to the May edition of our newsletter!!

As spring blossoms into full swing, we celebrate our mothers on Mother's Day and our fallen heroes on Memorial Day.

Earlier this month, Proxima had the chance to participate in the California Association of Realtors (CAR) Legislative Day. Leg Day is a pivotal event where real estate professionals gather to advocate for policies that shape the industry's future. It's a day dedicated to fostering collaboration, discussing key issues, and influencing decision-makers to enact positive change. As voices from across the state unite, the event serves as a powerful platform to address legislative matters impacting real estate and homeownerhip in California.

Last week, we took part in the National Association of Realtors (NAR) Legislative Meetings bring together industry leaders, policymakers, and advocates from across the nation to address crucial issues shaping real estate. These meetings provide a platform for constructive dialogue, strategic planning, and advocacy efforts aimed at advancing the interests of homeowners nationwide. By engaging with legislators and policymakers, Proxima works tirelessly to shape policies that promote vibrant, sustainable communities and a thriving real estate market for all.

To learn more about what we do to support you, please watch this video.

Thank you!

- Tia Hunnicutt, LIC #01840070


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Staged kitchen with deep blue cabinets, a large island, and a dining table set with dishes and fruit.

The 2000s look has taken over fashion—here are some signs it might be coming for interior design too
 

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How I Handle "Sensory Overwhelm" as a Neurodivergent Mom

Illustrated woman sits cross-legged on grass among toys and colorful playful decorations.

I hope to create a calmer place where we can all thrive.


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Please, Do Not Come Over to My House Unless You Call First

Charcuterie board with bread, cheeses, salami, olives and dried fruit, surrounded by glasses of white wine.

I’d love to see you, but there’s a catch.

READ ARTICLE
 
 
 

San Francisco Market Data

Bay Area housing market infographic with sale price, list-to-sold ratio, sold listings, and new listings.

 

Listing Volume for San Francis

 

Bar chart comparing new and sold listings from March through May, with new listings higher each month.

 

Oakland Market Data

Bay Area market metrics: $990,000 median sale price, 110% list-to-sold, 431 sales, 830 new listings.

 

Listing Volume for Oakland

 

Chart showing new and sold listings rising from March to May, with new listings higher each month.

Livermore Market Data

Greater Bay Area market update: median sale price $1,165,000, 184 sold listings, and 234 new listings.

 

Listing Volume for Livermore

 

Bar chart showing new and sold listings rising from March to May, with more new listings each month.

 

 

San Jose Market Data

 

Market update: median sale price $1,460,101; 1,325 sold listings; 1,234 new listings; 108% list-to-sold ratio.

 

Listing Volume for San Jose

 

Bar chart comparing new and sold listings from March to May; sold listings surpass new listings in May.

 

Sacramento Market Data

May 2024 housing market metrics: $510,000 median sale price, 102% list-to-sold ratio, 342 sold, and 40 new listings.

 

 

Listing Volume for Sacramento

 

 

Bar chart of new and sold listings from March to May; sold listings rise each month while new listings stay below 60.

 

Featured Oakland Listing

Green Victorian house with ornate white trim, red front steps, and a wooden fence.

Vacant kitchen with white cabinets, granite counters, black refrigerator, stainless appliances, and two windows above the sink.

Green two-story home with a raised deck, stone patio, and raised garden beds in its fenced backyard.

1432 12TH ST

OAKLAND

6 bedrooms |  4 bathrooms | 1,918 sqft.

$989,000

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

 

3028 Colby St. investment summary: one-eighth ownership for $153,000, with projected returns and a three-year timeframe.

Tia Hunnicutt, broker, smiling in glasses and a black-and-white patterned top.




 



Let‘s Connect

Contact Us today to discuss all your real estate needs!