Is Albany, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Albany has remained a Seller's Market.
Housing Prices in Albany, CA
How much do homes in Albany, CA cost?
Median Sold Price
$1,080,000
$911/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Albany was $1,080,000 in May 2024, down 4% from last year, and the median price per square foot was $911.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $412.5K | $457.5K | +10.9% |
2 Bedrooms | $960K | $907.5K | -5.5% |
3 Bedrooms | $1.4M | $1.4M | -4.9% |
4 Bedrooms | $1.5M | $1.9M | +19.9% |
5+ Bedrooms | $1.6M | $2.0M | +22.3% |
Summary: Albany housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.9%, 2 bedroom homes decreased by 5.5%, 3 bedroom homes decreased by 4.9%, 4 bedroom homes increased by 19.9%, and 5+ bedroom homes increased by 22.3%.
Median Sold Price Compared To Nearby Cities
West Contra Costa | $715.1K | $720K | +0.7% |
Richmond | $650K | $650.9K | 0.1% |
El Cerrito | $1.2M | $1.1M | -3.3% |
Albany | $1.1M | $1.0M | -4.0% |
Berkeley | $1.5M | $1.3M | -8.9% |
Housing Supply in Albany, CA
How many homes are available in Albany, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
35 | 43 | +22.9% |
Summary: The Albany real estate market had 43 homes for sale in May 2024, a 22.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 5 | +25.0% |
2 Bedrooms | 21 | 26 | +23.8% |
3 Bedrooms | 6 | 6 | 0.0% |
4 Bedrooms | 3 | 4 | +33.3% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Albany housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 23.8%, 3 bedroom homes remained the same, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
12 | 16 | +33.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in Albany in May 2024, up by 33.3% month-over-month. Of the 16 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Albany, CA
How long does it take to sell a home in Albany, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
48 Days | 19 Days | -60.4% |
Summary: Homes in Albany had an average of 19 days on market in May 2024, down by 60.4% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 16 homes were sold in Albany; 81% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.