Posted to: Albany

Days On Market, Last 2 Years: Berkeley, Albany, El Cerrito, Kensington, Richmond and Oakland

Let’s take a look at what the average days on market has done over the last two years in each of our neighborhoods.  Percentages are from Jan/07 vs. Jan/09.

Albany, down 66%
Jan 2007  24
Jan 2008  43
Jan 2009  8

Berkeley, all, down 7%
Jan 2007  45
Jan 2008  43
Jan 2009  42

Berkeley Hills, up 7%
Jan 2007  14
Jan 2008  58
Jan 2009  15

El Cerrito, up 100%
Jan 2007  25
Jan 2008  44
Jan 2009  50

Kensington, up 60%
Jan 2007  44
Jan 2008  5
Jan 2009  70

Oakland, all, up 10%
Jan 2007  46
Jan 2008  53
Jan 2009  64

Richmond, all, up 15%
Jan 2007  52
Jan 2008  77
Jan 2009  60

Richmond Annex, down 21%
Jan 2007  66
Jan 2008  182
Jan 2009  53

Several factors can severely skew the days on market (DOM) statistics.  The first, and biggest, is the level of inventory.  If inventory is low and the quality of the homes is poor, then you will have a higher DOM (which is why Jan/08 in the Annex was so high).  Then there is quality regardless of inventory: high quality = quick sales, no matter the economy.  This is the reason the East Bay is desirable.  The other factor is the media and the economy.  What are the headlines saying?  Was there a wave of crime during that particular month?  How many loans reset that month?  This all affects sales, which direclty affects DOM.