<\/p>\n
The typical home value in Oakland was about $716,000 in March, according to the latest available data from real estate company Zillow.<\/p>\n
Jessica Christian\/S.F. Chronicle<\/p>\n
Oakland home values<\/a> have fallen to their lowest point in roughly a decade, and there\u2019s little sign the market will heat up anytime soon.<\/p>\n The typical home value in Oakland was about $716,000 in March, according to the latest available data from real estate company Zillow. That reflected a year-over-year drop of more than $90,000, or 11.4%, after adjusting for inflation.<\/p>\n Among U.S. cities with at least 100,000 residents, Oakland was tied with Cape Coral, Fla.\u00a0\u2014 which last year was dubbed the country\u2019s worst housing market<\/a>\u00a0\u2014 for the starkest home value drop.<\/p>\n Article continues below this ad<\/p>\n But Cape Coral\u2019s home values were still about 10% higher than they were in March 2019. Oakland\u2019s are down by 28%.<\/p>\n Oakland home values have been in\u00a0freefall since mortgage rates spiked in 2022, when the typical value in the city peaked at about $1.1 million in 2026 dollars. The last time the city\u2019s homes were valued this low was in 2015 (or 2017, if not adjusting for inflation).<\/p>\n San Francisco Chronicle Logo<\/p>\n Make us a Preferred Source to get more of our news when you search.<\/p>\n <\/p>\n Add Preferred Source<\/p>\n <\/a><\/p>\n Like in San Francisco, the hit that rising rates inflicted on Oakland\u2019s housing market coincided with other trends that destroyed demand<\/a> for homes in both cities\u00a0\u2014 emptying downtowns, rising crime rates and a push toward the suburbs. Unlike San Francisco, Oakland hasn\u2019t had an artificial intelligence boom to bring buyers<\/a> roaring back.<\/p>\n Article continues below this ad<\/p>\n That means sellers are under more pressure to drop prices, but it\u2019s not clear that affordability has improved enough for first-time buyers. Zillow estimates that a mortgage for a mid-priced home in Oakland would cost about $3,680 a month with a 20% down payment, much more than the median household can comfortably afford\u00a0\u2014 and much higher than typical rents.<\/a> Bidding wars are still common in desirable neighborhoods like Rockridge and Elmwood, while houses and condos with lower price tags often require costly renovations or high monthly association fees.<\/p>\n \u201cI don\u2019t think it\u2019s a question of crime stats<\/a> or anything like that,\u201d said Andrea Gordon, an East Bay Realtor with Compass. \u201cI think it\u2019s really, purely the economy at this point.\u201d<\/p>\n Home values in the 94618 ZIP code, which includes Rockridge, changed the least from March 2025 to March 2026, declining by just 5%. That left it the city\u2019s most expensive ZIP code with a typical home value of $1.62 million, according to Zillow\u2019s data.<\/p>\n Neighborhoods like Rockridge, an affluent community known for its proximity to boutique stores and restaurants, are especially popular among young families with children, said Susie Wyshak, an East Bay real estate agent with Compass.<\/p>\n Article continues below this ad<\/p>\n But tight inventory drives strong competition in the area, which for most<\/a> of its history was zoned<\/a> for single-family homes. The strongest bidders, real estate agents said, are those with money from family members or a previous home sale.<\/p>\n \u201cPeople who are more money-conscious are going to be more hit by\u201d economic factors, Gordon said.\u00a0<\/p>\n The housing market elsewhere in Oakland is much softer. Typical home values fell the most in Oakland\u2019s downtown 94612 ZIP code<\/a>, dropping by 16% from 2025 to 2026.<\/p>\n \u201cI know several people who were like, \u2018Can I break even if I sell my condo in downtown Oakland, next to Lake Merritt? \u2019\u201d Wyshak said. \u201cAnd they probably couldn\u2019t.\u201d<\/p>\n Article continues below this ad<\/p>\n Part of the reason Oakland\u2019s condo prices<\/a> have fallen especially far is because renting is often much cheaper. Downtown Oakland experienced a boom of apartment construction before the pandemic, tamping down<\/a> rents. For some households, said Leena Zeidan, an East Bay Realtor with Tuscana Properties, it\u2019s not worth signing a mortgage that at current rates costs as much as rent\u00a0\u2014 especially when it means condo association dues on top of it.<\/p>\n \u201cOakland is behaving (like) several little micro-markets rather than one market,\u201d Zeidan said.<\/p>\n","protected":false},"excerpt":{"rendered":"The typical home value in Oakland was about $716,000 in March, according to the latest available data from…\n","protected":false},"author":2,"featured_media":308896,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[184,7,1279,332,1011,143,145,144,388],"class_list":["post-308895","post","type-post","status-publish","format-standard","has-post-thumbnail","category-oakland","tag-bay-area","tag-california","tag-data","tag-east-bay","tag-housing","tag-oakland","tag-oakland-headlines","tag-oakland-news","tag-real-estate"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/308895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=308895"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/308895\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/308896"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=308895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=308895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=308895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}