Housing market report for October 2021: Bay Area

houses near road with palm trees

October 2021 highlights

Overall, the Bay Area remained a competitive market in October for buyers interested in the most popular houses, despite a seasonal dip in activity. 

  • San Francisco single family homes saw the same median price as in July. The 6% month-over-month increase to a median sale price of $1,900,000 may take the place of an expected spike that usually happens in November, before flattening in December. The city saw less activity month over month with 22% fewer properties going pending and 20% fewer listed, but the homes that did sell sold for higher prices. 
  • Berkeley and Oakland (East Bay I) saw little change. While median sale price and list price for single family homes saw only small fluctuations, median days on market increased 8% from 12 to 13 days. Sale-to-list price ratio dropped 1% month over month but still came in 5% higher year over year, indicating that the area is still significantly more competitive for buyers than in previous years. Condos in the area saw increased activity with 46% more homes pending month over month, but condos sold with a median of 23% more days on market and no significant change in competition (as indicated by sale-to-list price ratio). 
  • The Tri-Valley area saw a decrease in activity. In October, 15% fewer single family homes went pending month over month, representing 29% fewer year over year. Likewise, 14% fewer single family homes were listed month over month, and 35% fewer year over year. Sale-to-list price ratio dropped less than 1% month over month, but rose 4% year over year, showing that the area has firmly become more competitive for buyers than in years past. Fremont, Newark, and Union City (East Bay II) saw a similar trend, with 20% fewer properties listed year over year and sale to list price ratio up 6% over October 2020. 
  • The South Bay looked similar to August. The median sale price for single family homes rose 2% to match August at $1,400,000 after a drop in September. Sales slowed by one day with a 14% month-over-month increase in median days on market that marks a return to levels seen in July and August after a dip in September. Fewer properties were listed and pending month over month, and sale-to-list price ratio rose less than 1% to match the August number of 108%. 
  • The Peninsula saw competition for single family homes. After a slower September, sale-to-list-price jumped nearly 3% month over month as the number of properties listed dropped by 17% and some homes in the area saw heightened competition among buyers. October 2020 also saw a jump in sale-to-list price ratio, followed by decreases in November and December. 

See previous months’ highlights

Competition report

Our research team analyzed the competition in select local areas.

Real estate market data
Real estate market data
Real estate market data
Real estate market data

Sale price

List price

Sale price compared to list price

Days on market

Number of properties listed

Number of properties pending sale

San Francisco includes data for the city of San Francisco.

East Bay I includes data for Oakland and Berkeley.

East Bay II includes data for Fremont, Newark, and Union City.

Tri-Valley includes data for Dublin, Pleasanton, and San Ramon.

South Bay includes data for San Jose, Santa Clara, and Sunnyvale.

Peninsula includes data for San Mateo, Foster City, Belmont, and San Carlos.

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