Building Costs Per Square Foot in the City of Oakland (CA), USA

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Residential Construction Market Analysis in the City of Oakland (CA), USA

Newly Built House in Emeryville 1049 61ST#A CA94608 - 3 Bedrooms and 3 Baths with Attached Garage on Gross Floor Area 2,206 sqft - Built in 2022 - Price $1,495,000 (3)

Newly Built House in Emeryville 1049 61ST#A CA94608 – 3 Bedrooms and 3 Baths with Attached Garage on Gross Floor Area 2,206 sqft – Built in 2022 – Price $1,495,000 (3)

Building costs are 24% above the national average in the City of Oakland in California. The golden state, or California, is one of the states in the entire country that has the greatest variety of cities. Of course, its big cities stand out for their beach life, and luxury, and are in the shadow of Los Angeles in some cases.

In any case, we recommend that you open your eyes and be receptive to discovering the different parts of the state, beyond LA or San Francisco. A city that you may love is Oakland, close to San Francisco Bay.

In this article, we will tell you everything you need to know about the Oakland real estate market, current values, upcoming prices, residential construction projects, and all the most important information.

Oakland (CA) Construction Outlook

Oakland is located in the San Francisco Bay, just 10 kilometers from San Francisco, and that is why there are times when people tend to forget about its existence. Although indeed, its skyline is not so memorable, it still has a large number of buildings that stand out and are characteristic of Oakland.

Townhouses and condos are very suburban properties if you stray away from the downtown blocks. Properties can range from typical brick and mortar to prefab wood, as the weather is quite stable (and warm) in the city of Oakland.

Oakland (CA) Housing Market Analysis and Forecast

Unlike what is happening in other California cities, in Oakland, the values ​​are going down and there is a drop in the number of properties that are sold, so at first glance, they are not positive data. However, keep in mind that 2021 was a record-breaking year for the Oakland real estate market, so current values ​​are nothing to worry about.

Whether you’re a seller, investor, or someone looking to buy a property to live in, Oakland is a good place to find some hidden gems or properties that aren’t as expensive as other parts of California.

If the values ​​of October 2022 are compared with those of the same month but in 2021, there was an 11% drop in property prices. There were also 38% fewer properties sold than in that period last year. In any case, it should not be forgotten that in the summer of this year the properties had a historical average value of more than $1M.

There are not many properties currently listed, there are just over 300 in the city of Oakland that are listed to be sold. They take an average of 25 days to sell, which is 9 days more than the average in 2021.

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In short, it is a real estate market that has its highest peaks during the summer months. In June, July, and August you will have a greater variety of properties listed, so there is more diversity for you to choose from, albeit at higher prices. In the winter months, there are usually fewer properties listed, but prices drop by 5-15%, so you can get a good deal (although you will have fewer properties to choose from).

Oakland (CA) Average House Price (Median Home Price)

In October 2022, the median home value in the city of Oakland California is $844,000, which is 11% less than what they were worth in the same period last year (when they were worth $950,000). The highest value of the median homes during 2022 occurred in June when it reached more than $1M. That number is not only this year’s record, but it is an all-time record in the city of Oakland.

You should not forget that the median home price is obtained as an average of the values ​​of all the properties listed for sale in the city’s real estate market, so in reality, the prices may be higher or lower depending on the type of property. their state, and the area in which they are located.

In the case of single-family homes, the average value is $1,050,000, and the maximum value reached this year was $1,250,000 in June. Historically, single-family homes are the most expensive and in-demand properties in the city of Oakland. Something that makes its average value so high is the large number of luxury houses that fall into the single-family home category, keep in mind that you can get a property with these characteristics for $600,000 without a problem.

Regarding townhouses, their average current value is $908,000, 5% more than the value they had in the same period last year. Its value increased as demand also increased, and it is a type of property that is gaining ground on condos/co-ops.

The median value for condos/co-ops is $595,000, down 10% from last year. Its maximum historical peak was in March 2020 when it reached $710,000, although from there it has only gone down, since it was an exaggerated price for this type of property, even for more than it is located in the state of California.

Proposed Residential Building Projects in Oakland (CA)

The city of Oakland has several projects that have to do with the world of residential construction. The changes that are coming to this California city are full of modern air, changes in the construction outlook, and architectural innovation. The good thing is that despite this, the city will not lose the essence that characterizes it and sets it apart from other cities in California.

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In downtown Oakland, there are several residential building projects. In some cases, these buildings combine residential apartments and offices, but in most, they are exclusively for housing. All these buildings have terraces and bars or swimming pools that make them feel like an oasis in the desert, especially in the hot months.

On the outskirts of the city, but still, on the Oakland perimeter, there are some luxury home projects. They are not the same as the mansions in Los Angeles or Beverly Hills, but they are quite luxurious houses, especially when compared to the other properties that you can find in Oakland. These properties will have a value of more than $1.5M and will have a pool, 6 bedrooms, a large garden, and a garage.

Newly Built Row House in Emeryville 800 Apgar Street CA94608 - 3 Bedrooms and 4 Baths with Attached Garage on Gross Floor Area 1,816 sqft - Built in 2022 - Price $998,000 (4)

Newly Built Row House in Emeryville 800 Apgar Street CA94608 – 3 Bedrooms and 4 Baths with Attached Garage on Gross Floor Area 1,816 sqft – Built in 2022 – Price $998,000 (4)

Building Costs Per Square Foot for Single Family Homes in the City of Oakland (CA), USA

Building costs are 24% above the national average in the City of Oakland in California.

Class 1 – Luxury Single Family Homes

The building cost per square foot for luxury private homes in Oakland City ranges from $427.66 per sqft to $655.59 per sqft, with the average being $504.71 per sqft. As the bar chart shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

Class 2 – Semi Luxury Single Family Homes

The building cost per square foot for semi-luxury private homes in Oakland City ranges from $259.92 per sqft to $398.41 per sqft, with the average being $306.73 per sqft. As the bar chart shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

Class 3 – Best Standard Single Family Homes

The building cost per square foot for best-standard private homes in Oakland City ranges from $168.02 per sqft to $255.20 per sqft, with the average being $196.72 per sqft. As the bar chart shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

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Class 4 – Good Standard Single Family Homes

The building cost per square foot for good-standard private homes in Oakland City ranges from $122.62 per sqft to $188.05 per sqft, with the average being $144.72 per sqft. As the bar graph shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

Class 5 – Average Standard Single Family Homes

The building cost per square foot for average-standard private homes in Oakland City ranges from $99.53 per sqft to $152.43 per sqft, with the average being $117.37 per sqft. As the bar graph shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

Class 6 – Minimum Standard Single Family Homes

The building cost per square foot for minimum-standard private homes in Oakland City ranges from $78.50 per sqft to $120.33 per sqft, with the average being $92.61 per sqft. As the bar graph shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

Newly Built Row House in Emeryville 800 Apgar Street CA94608 - 3 Bedrooms and 4 Baths with Attached Garage on Gross Floor Area 1,816 sqft - Built in 2022 - Price $998,000 (2)

Newly Built Row House in Emeryville 800 Apgar Street CA94608 – 3 Bedrooms and 4 Baths with Attached Garage on Gross Floor Area 1,816 sqft – Built in 2022 – Price $998,000 (2)


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