Is El Cerrito, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, El Cerrito has remained a Seller's Market.
Key Takeaway
El Cerrito is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in El Cerrito, CA
How much do homes in El Cerrito, CA cost?
Median Sold Price
$1,170,000
$764/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in El Cerrito have sold for 3.3% less than they did a year ago.
Summary: The median home sold price in El Cerrito was $1,170,000 in May 2024, down 3.3% from last year, and the median price per square foot was $764.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $771K | $750K | -2.7% |
| 2 Bedrooms | $919K | $925K | +0.7% |
| 3 Bedrooms | $1.1M | $1.2M | +6.5% |
| 4 Bedrooms | $1.6M | $1.3M | -18.0% |
| 5+ Bedrooms | $1.6M | $1.6M | 0.0% |
Summary: El Cerrito housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.7%, 2 bedroom homes increased by 0.7%, 3 bedroom homes increased by 6.5%, 4 bedroom homes decreased by 18%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| West Contra Costa | $715.1K | $720K | +0.7% |
| Richmond | $650K | $650.9K | 0.1% |
| El Cerrito | $1.2M | $1.1M | -3.3% |
| Albany | $1.1M | $1.0M | -4.0% |
Housing Supply in El Cerrito, CA
How many homes are available in El Cerrito, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 54 | 51 | -5.6% |
Summary: The El Cerrito real estate market had 51 homes for sale in May 2024, a 5.6% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 21 | 20 | -4.8% |
| 3 Bedrooms | 22 | 18 | -18.2% |
| 4 Bedrooms | 9 | 7 | -22.2% |
| 5+ Bedrooms | 2 | 6 | +200.0% |
Summary: The El Cerrito housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 4.8%, 3 bedroom homes decreased by 18.2%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 26 | 23 | -11.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in El Cerrito, you could pay more than the asking price. 95.7% of homes here sold above asking price last month.
Summary: A total of 23 homes were sold or pending in El Cerrito in May 2024, down by 11.5% month-over-month. Of the 23 sold homes, 4% were sold under asking, 0% were sold at asking, and 96% were sold over asking.
Days on Market for El Cerrito, CA
How long does it take to sell a home in El Cerrito, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 17 Days | 15 Days | -14.1% |
Summary: Homes in El Cerrito had an average of 15 days on market in May 2024, down by 14.1% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in El Cerrito are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 23 homes were sold in El Cerrito; 87% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.