Oakland, California - the city known equally well for both its art culture and crime - has had a real estate boom with 797 homes being sold from last year, according to a report from Movato LLC.
The city just across the bay from San Francisco is reported to have only 151 homes left for sale. Oakland had the biggest drop in inventory of any city, according to San Mateo's Movato, which analyzed numbers from 38 cities around the United States for the report.
At the end of March, there were 98,336 homes for sale in the 38 cities, down from 124,808 a year earlier. But the list price per square foot of homes in these places jumped 11.5 percent, an increase that Movato called "exceptional."
Sacramento's for-sale home inventory dropped by 70.6 percent, leaving 843 homes for sale in the state's capital, down from 2,863 homes a year earlier.
