Piedmont Market Update - January 2025

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2024 in Review

The new year is the perfect time to reflect on sales activity from the past to give us a big-picture view of trends in real estate. In the charts below, we considered five years of sales in Piedmont, Berkeley, Oakland, and Lamorinda. And, we ask the following: How have prices performed over the last five years? How does the number of sales change year-over-year? In all four markets, the highest average sales prices were in 2022. By 2024, average sales prices remained higher than they were five years ago in every market except in Piedmont, where a decline was partly due to fewer total sales over $4 million. Over the last five years:

Piedmont: Average sales prices were 3% lower

Lamorinda: Average sales prices were 21% higher

Berkeley: Average sales prices were 6.7% higher

Oakland areas: Average sales prices were 7.6% higher

These same markets saw the highest number of total home sales in 2021, with 2024 showing the lowest number of homes sales during this five year period.