Oakland, CA Real Estate Market

Sellers in 94611 are in a strong position, with homes closing at a median of $1,198,000 against a median list price of $995,000, reflecting consistent above-ask results in the current market. A competition score of 87 and a median of just 15 days on market mean well-priced homes are drawing serious buyers quickly.

Buyers in 94611 should be prepared to offer above list price, as the gap between the median list price of $995,000 and the median sale price of $1,198,000 points to a persistently competitive bidding environment. With homes spending a median of just 15 days on market, acting quickly and coming in with a strong offer is essential to securing a home.

With a median rent of $2,295 and 111 rental units currently on the market, 94611 shows steady rental demand, though the median sale price of $1,198,000 requires careful cash flow analysis before committing. Two-bedroom homes carry a median sale price of $749,000 while two-bedroom rentals bring in $2,850 per month, which may offer a more favorable rent-to-price entry point for investors.

The current 30-year fixed rate of 6.37% and 15-year rate of 5.72% result in significant monthly carrying costs on a median-priced home at $1,198,000, making loan structure and down payment size especially consequential decisions. Buyers who can qualify for the 15-year rate of 5.72% will pay meaningfully less interest over the life of the loan, and comparing both scenarios side by side is well worth the effort at this price point.