ALAMEDA CA MARKET REPORT: Hopeful, recovering, moving forward!

By
Real Estate Agent with Alain Pinel BRE 01367196
http://actvra.in/lsR

Alameda CA Market Report ---

If one were to look at our current market statistics, the descriptive words are hopeful, recovering, and moving!

Why would one think that?

Average months’ inventory

Alameda shows that comparing September 2011 with September 2010, the months’ supply of inventory has dropped by 44%, down from 6.4 months to 3.6 months. In any other market, they’d think this is almost like a seller’s market because there is obvious movement to buy property. And our inventory is less than 6 months

Blue line represent days on market.

 

Sold properties

Another positive and encouraging news, using the same time period September 2010-2011, the number of sold properties went up by 15^%

 

Median for Sale vs Median Sold

Buyers and investors should look at this from a positive angle. Both median for sale and median sold have come down…and this seems like fertile ground to buy property, considering that we are still looking at the lowest interest rates in 40 years.

 

So what’s for sale in the residential market?

 

Active Listings as of October 17, 2011, we have 148 properties for sale

 

Active

Average price

Median price

Average days on market

ALL ACTIVE LISTINGS

531,554

477,450

69

Active

 

 

 

64 Detached homes

643,930

604,500

64

7 Duets

443,571

499,000

77

30 Condos

292,695

283,475

100

15 Townhouses

420,750

392,000

81

Back on market

 

 

 

2 townhouses

332,000

332,000

15

Contingent

 

 

 

1 Detached

439,000

439,0000

285

New

 

 

 

11 Detached homes

827,727

675,000

4

1 Duet

264,000

254,000

7

4 Townhouses

633,500

392,000

3

Price change

 

 

 

9 Detached homes

559.622

497,9000

70

1 Condo

170,000

170,000

151

3 Townhouses

349,667

379,000

84

 

 Buyers, what are you waiting for?

Related Post: Don't listen to REALTORs who tell you it's a good time to buy --- take it from Wall Street Journal, Forbes and Market Watch

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the clock to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
ActiveRain Community
Location:
California Alameda County Alameda
Groups:
1st Time Buyers
Alameda California
Dedicated Bloggers
Market Reports
Realtors®
Tags:
alameda ca real estate
alameda ca real estate trends
alameda ca time to buy
alameda ca real estate prices

Comments 4 New Comment

Rainmaker
234,618
John M. Scott
Broker / Owner San Francisco Real Estate
BRE # 01442690, Scott Keys Properties

It's great to be able to report the goods news Pacita! SF's inventory is under 3 months. Wa - hoo!

October 17, 2011 10:17 PM
Rainer
234,162
Doug Bullwinkel
NMLS #281609
Vitek Mortgage Group

It looks like housing is moving but at a reduced price.  There were consumer reports that prices would continue to drop around 7% to 10% in 2011 so I guess they were right for a change. Hopefully the prices will stabilize soon along with some good sales figures.

October 18, 2011 03:49 AM
Rainmaker
1,276,262
Sally K. & David L. Hanson
WI Realtors - Luxury - Short Sale - CDPE, REDS
Keller Williams 414-525-0563

Great illustrations...and advice..now IS the time !

October 18, 2011 05:46 AM
Rainmaker
657,458
Pacita Dimacali
Alameda/Contra Costa Counties CA
Alain Pinel

John -- I'm ever optimistic that the market will keep moving in the positive direction.

Doug -- reduced pricees at low interest rates should bring the buyers in droves. The stars are aligning in their favor.

Sally and David --- I'm so grateful that our local MLS enables us to use some of the features offered by Claru Martket Metrics.

October 18, 2011 11:38 PM
Rainmaker
657,458

Pacita Dimacali

Alameda/Contra Costa Counties CA
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the man to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase: