Just east of San Francisco, San Leandro real estate market is hot, hot, hot!

SAN LEANDRO

When folks from San Francisco come to the East Bay, they only know a few cities based on the weather map they see in the San Francisco Chronicle. Most of them know about Oakland and Berkeley. But very few are aware of some gems of neighborhoods in the cities of Alameda, San Leandro, Castro Valley, Hayward and others.

Perhaps that is changing. As people find out about the more affordable housing in the East Bay (as compared to San Francisco, Marin, Santa Clara counties, etc), we are seeing increased interest in real estate in our neck of the woods.

And perhaps that explains the movement in our markets.

Like San Leandro. Here's what it looks like the past two years, Sept 2007 through Sept 2009, for detached single family homes.

• Supply and demand ....are we approaching equalization, perhaps a "normal" market?
  

• If the months' inventory level is any indicator, homes are selling at a brisk pace. Since we're at below 2 months' inventory, is this a signal that it's turned into a seller's market?
  

• Median price is below what they were in 2007, but it seems to be on the upswing
  

• Number of properties sold also inching upwards