Autumn markets in counties around the Bay Area have seen significant shifts, but with wide variance in the magnitude of these changes between areas. So far, the market centered on Oakland and Berkeley has probably seen the least dramatic changes in supply and demand dynamics. A major factor has to be that Alameda County, even after all the home price appreciation of recent years, generally speaking remains distinctly more affordable than San Francisco, San Mateo and Santa Clara Counties.
However, the fact that other regions are seeing considerable shifts to cooler markets - at least over the past few months - may signify further adjustments to come in the East Bay as well. Time will tell: Short-term fluctuations are not uncommon and need to be substantiated over the longer term. Many standard statistics are lagging indicators and take time to reflect changes on the ground. They will bear watching in coming months.
