Expert Perspective on Oakland’s Real Estate Market
- lisacartolano
- Oct 15
- 2 min read
Recent coverage in the Daily Mail spotlighted Oakland’s 94612 ZIP code — encompassing parts of Uptown and Downtown — as one of the nation’s weakest housing markets. While the article noted sharp condo price declines and longer listing times, it does not paint the full picture- and can feel like a sensational article without looking at the whole picture. Myself and Patrick Carlisle, Chief Market Analyst for Compass Northern CA weighed in for the article. The data reflects unique, localized factors rather than a citywide trend.
The 94612 zip code is predominantly composed of condominiums, which have been more affected by new state inspection laws, rising insurance premiums, and elevated HOA fees. “This ZIP code speaks more to the differential we’re seeing between the single-family and condo markets,” Lisa Cartolano, Sales Manager of the Compass Oakland Office said. “Insurance and lending challenges have had an impact, but other areas of Oakland are showing remarkable strength. We recently had a Rockridge listing receive eight offers and sell $1 million over asking.”
Patrick Carlisle, added perspective on the broader Bay Area trends: “Oakland has been hit by a wave of overly negative stories recently, just as San Francisco was in 2023. While there are challenges to address, I’m confident the city will rebound as it always has.” Carlisle noted that high interes
t rates have softened demand in entry-level markets, but affluent buyers remain active, and future declines in interest rates could reignite buyer demand.
Oakland’s market not cookie cutter and varies widely based on location, property type and condition — with continued competition and price growth in desirable neighborhoods, and opportunity emerging for buyers in more affordable ones. As the region’s economy stabilizes and confidence returns, Oakland’s resilience and diversity remain its greatest strengths.
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