The Inner East Bay housing market closed October with numbers that might surprise you. Home values rose 3.5% year over year to a median price of $1,250,000, while three out of four homes sold above their asking price. If you've been wondering whether competition still exists in East Bay real estate, the data tells a clear story.
The Numbers Tell a Story of Sustained Demand
According to the latest Inner East Bay market data covering Alameda, Albany, Berkeley, El Cerrito, Kensington, Oakland, Piedmont, and San Leandro, sellers continue seeing strong results. The median sales price reached $1,250,000 in October, up from $1,207,500 the previous year.
What stands out more than the price appreciation is how quickly homes are moving. The median days on market held steady at just 15 days, only one day longer than last year. Properties priced correctly are getting snapped up fast.
Competition remains intense. An impressive 75.9% of homes sold over their list price, and sellers received an average of 114.8% of asking. That percentage represents a full point increase from 113.7% last year. Motivated buyers are still stepping up for desirable properties.
Inventory Constraints Support Strong Pricing
Available listings dropped 6.4% year over year to 611 homes at the end of October. This tighter inventory keeps competition high and supports strong pricing even as some buyers remain cautious about mortgage rates.
When fewer homes are available, buyers who find properties that meet their needs act more decisively. They've seen enough homes get snapped up to understand that waiting often means losing out.
Closed sales increased 2.2% to 374 properties, showing that transactions are still happening. Buyers are adjusting to current interest rates and moving forward with purchases when they find the right homes.
Why 114.8% of List Price Matters
The average sale price of 114.8% of list tells you everything about current seller leverage. When properly priced homes hit the market, multiple buyers compete, driving final prices above asking.
Sellers who understand pricing strategy and presentation are still achieving premium results. The key is pricing slightly below market value to generate immediate interest. When three or four buyers schedule showings in the first week and recognize genuine value, they don't want to be the one who loses the house.
I worked with a seller in Oakland recently who was nervous about pricing at $950,000 when comparable homes had sold around $980,000. We had a conversation about strategy, and she trusted the approach. Within eight days, we had three offers. The winning bid came in at $1,015,000.
What the Price Per Square Foot Reveals
The median price per square foot came in at $700, down 4% from $729 last year. This might seem contradictory given the 3.5% increase in median sale price, but it actually reflects a shift in the mix of homes selling rather than declining values.
Larger homes on bigger lots have been trading more actively in recent months, which naturally brings down the per square foot average while the overall median price rises.
What Buyers Need to Know
If you're shopping in the Inner East Bay right now, competition still exists for well priced properties. The 15 day median market time means you really can't wait weeks to make a decision on a home that works for you.
With inventory down 6.4% and 75.9% of homes selling over list, you're not operating in a buyer's market where you can lowball and negotiate aggressively. Properties priced correctly will receive multiple offers, and you'll need to be prepared to compete.
Focus on value rather than trying to time the market perfectly. If you find a home that meets your needs and is priced fairly based on comparable sales, make a competitive offer.
What Sellers Need to Know
The data validates strategic pricing and proper presentation. Your home can achieve premium results, but only if you price it to generate early interest and prepare it to show at its best.
Overpricing in hopes of negotiating down doesn't work when buyers have researched comparable sales and know fair market value. Start with realistic pricing that attracts serious buyers in the first two weeks. Let competition develop naturally and drive the final price above your list.
Looking Ahead
The Inner East Bay market heading into the final months of 2025 shows genuine resilience. Limited supply, steady buyer confidence, and competitive offers continue to define what I'm seeing every day.
Mortgage rates remain higher than recent years, but buyers are adapting. They're focusing on properties they genuinely want and prepared to compete when they find value.
For sellers, this environment rewards preparation and smart pricing. For buyers, it requires decisiveness and realistic expectations. The 3.5% year over year price appreciation, combined with homes selling 14.8% above list price on average, paints a picture of a market that's working.
If you're considering buying or selling in Berkeley, Oakland, Alameda, or any of the Inner East Bay cities, I'm here to help you understand what these numbers mean for your specific situation. Properties priced right continue to perform exceptionally well, and buyers who understand value and act decisively are the ones who succeed.
Kelly
