Oakland, CA Real Estate Market

With homes sitting on the market for a median of only 15 days and a competition score of 87, sellers are operating in a favorable environment with motivated, active buyers. Pricing strategically near the median asking price of $1,198,000 positions listings well within a market that is moving quickly.

Buyers in the 94611 market should be prepared to act decisively, as the median days on market is just 15 days and inventory of 209 active listings may not last long at the current pace. With a median asking price of $1,198,000 and a price per square foot of $589.14, buyers should define their budget and target bedroom range clearly before beginning their search.

Rental inventory in the area stands at 111 units, and the median rent for a 3-bedroom home is $4,100 per month, compared to a median asking price of $1,095,000 for that same bedroom count. Investors should weigh those rent figures against current financing costs and the overall asking price landscape to assess potential yield.

The 30-year fixed mortgage rate currently sits at 6.37% and the 15-year fixed rate is at 5.72%, meaningfully affecting monthly payment calculations on a median asking price of $1,198,000. Buyers considering the 15-year option benefit from a 65 basis point reduction in rate, though the higher monthly payments require careful income and cash flow planning.