Pending home sales in California saw the first double-digit annual increase in three years in February and also the largest gains since the housing crisis. According to a report from the California Association of Realtors, pending home sales increased by 15.6 percent year over year in February, the most significant annual increase since April of 2009.
The Bay Area also saw double-digit percentage increases which suggests that the pace of sales will pick up across the state in the coming months. This may finally give buyers a more level playing field.
The median sale price in San Leandro increased year over year by 14%, from $455,000 to $520,000. Another spike seen in the San Leandro real estate market was in the number of properties under contract, with an increase of 57%, from 37 to 58. The number of sold properties was down by 14%, from 43 to 37. Another decrease in the San Leandro market was in both the new and for sale properties, both dropped year over year by 8%. Another negative shift was in the average number of days a home stayed on the market, which increased year over year by 49%. Homes in San Leandro were not flying off the market like they were this time last year. Overall, San Leandro didn’t have the best month in real estate…hoping for a better April!
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