Oakland, CA Real Estate Market

Sellers in 94611 are in a strong position, with recent homes closing at $1,180,000 on average against a median list price of $925,000, suggesting significant room for strategic pricing. With only 168 active listings and a median of 15 days on market, well-priced homes are attracting serious buyers quickly.

Buyers should be prepared to offer meaningfully above the list price, as the gap between the median list price of $925,000 and the median sale price of $1,180,000 indicates a highly competitive environment. Moving decisively matters here since homes are spending a median of just 15 days on market, leaving little time for extended deliberation.

With a median rent of $2,295 and 103 rental units currently available, the rental market in 94611 offers steady demand, though the median sale price of $1,180,000 means investors should carefully evaluate cash flow expectations. Two-bedroom rentals command $2,995 per month while two-bedroom homes sell at $699,000, which may present a more accessible entry point for investors seeking better rent-to-price ratios.

The current 30-year fixed mortgage rate of 6.00% and 15-year rate of 5.43% mean that financing a median-priced home at $1,180,000 carries substantial monthly costs, making down payment strategy and loan structure especially important. Buyers who can qualify for the 15-year rate at 5.43% will save considerably on interest over the life of the loan, which is worth modeling carefully at this price point.