Thinking about how much your Oakland home is worth today? Whether you’re preparing to sell, trying to ditch PMI, or just interested in the latest home values in Oakland, knowing this information is essential for your decision-making. In this article, we’ll look at current home price trends in Oakland, provide insights on how to get a precise home value estimate, and discuss simple ways to boost your home’s value. Plus, we’ll highlight essential tools to help you secure the best price for your Oakland home when the time comes to sell. Over the past four years, home values in Alameda County, where Oakland is located, have increased by 40.2%. In 2020, the median home price was $976,000. By June of this year, that number had climbed to $1,369,210, according to the California Association of Realtors. Although inventory swelled 85.5% year-over-year in Alameda County in June 2024 — the largest annual increase statewide — median home prices continued to climb. “The reason we’re seeing these increases in median prices is because we’re seeing more sales in higher-priced areas,” said Oscar Wei, senior economist for the California Association of Realtors, in an interview with The Mercury News. “With interest rates decreasing from June to July, that might motivate more people to get back into the market, or offer higher prices,” Wei added. The table below highlights the steady increase in home prices in Alameda County over the past five years: The increase in home values in Oakland mirrors a nationwide trend. Data from the Case-Shiller National Home Price Index shows that U.S. home prices have risen by 47% since early 2020. This rise has allowed homeowners to gain an impressive amount of home equity. As of early 2024, the ICE Mortgage Monitor report states that the average mortgage-holding homeowner has about $299,000 in equity. This equity can be used to purchase new properties, make home improvements, pay off debts, or save for the future. In the following section, we’ll explain how to estimate your Oakland home’s value.Current home values in Oakland
Year
Median home price
Percent change year-over-year
2024 (June)
$1,369,210
+4.9%
2023 (June)
$1,305,000
-6.8%
2022 (June)
$1,420,000
+9.2%
2021 (June)
$1,300,000
+33.3%
2020 (June)
$976,000
+1.7%
