Oakland Home Values Fall 11.4% to $716,248, Tying Biggest Drop Among Large U.S. Cities
Updated
Updated · NBC Bay Area · May 11
Oakland Home Values Fall 11.4% to $716,248, Tying Biggest Drop Among Large U.S. Cities
5 articles · Updated · NBC Bay Area · May 11
$716,248 was Oakland's average home value on March 31, Zillow said, down 11.4% from a year earlier after adjusting for inflation and 28.1% from 2019.
San Francisco Chronicle analysis of the Zillow data found Oakland tied with Cape Coral, Florida, for the steepest home-value decline since 2025 among U.S. cities with at least 100,000 residents.
Oakland agents said the slide is uneven: sought-after neighborhoods still draw multiple offers, with some homes selling 20% to 40% above list because inventory remains tight.
Agents also said many sellers who bought during the COVID boom are struggling to break even, while buyers keep pressing for discounts and closing-cost help to afford purchases.
Spring sales have started to pick up, agents said, and some expect San Francisco's AI-driven housing surge to spill over into Oakland and support prices later this year.
Oakland home values are falling, so why are houses sparking bidding wars and selling for 40% above the list price?
With home values down 28% since 2019, are recent Oakland homeowners trapped in properties worth less than they paid?
Will San Francisco's AI boom rescue Oakland's housing market, or just deepen the divide between its neighborhoods?