With only two more months left of 2014, most are wondering how 2015 projections are looking for sellers and buyers. A recent forecast by the California Association of Realtors gives much hope to homebuyers for the coming year, with a prediction of a growing supply of inventory, leveling home prices and less competition with investors. There is also a prediction that mortgage interest rates will remain at historically low levels throughout 2015. This is an incredible outlook for the coming year. And with that being said, 2014 has been a very solid year in the real estate market.
The San Leandro real estate market has remained pretty steady throughout the last 10 months. The median sale price had a year over year increase of 9%, from $417,000 in October 2013 to $455,000 in October 2014. Throughout the last year, the month to month variances have been very minimal when it comes to median sale price.The number of properties sold was down 36% year over year from 64 to 45. Over the last two months the number of properties sold has been steadily declining which could be do to the start of the school year. Additionally, new properties and for sale properties have both increased year over year roughly 3%. And both have declined slightly from September to October. Overall, real estate in San Leandro iis in good shape. Looking forward to 2015 and continued growth.
November Community Event
America Recycles Day
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