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.
Key Takeaway
Albany is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
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
Key Takeaway
Homes in Albany have sold for 4% less than they did a year ago.
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
Key Takeaway
If you're buying a home in Albany, you could pay more than the asking price. 75% of homes here sold above asking price last month.
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
Key Takeaway
Many homes in Albany are selling fast, if you're buying plan to act quickly.
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.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.