April 2012 pending home sales on the rise in Alameda, Berkeley, Oakland CA and nationally

By
Real Estate Agent with Alain Pinel BRE 01367196
http://actvra.in/zw8

April 2012 pending home sales on the rise

National Association of Realtors (NAR) recent news release March Pending Home Sales Rise, Market Recovering is indeed good news on the national level. So what is it like in our markets?


Local Market

We started to notice an uptick in the market when we began encountering multiple offers for over list price.  Looking at three cities in the East Bay CA area, the pending sales trend seems to confirm that March ---- as well as April ---pending sales are on the rise. These figures were gleaned from the MLS, looking for properties that went into contract during each month.

City

January

February

March

April

Alameda

10

13

34

54

Berkeley

7

11

28

52

Oakland

75

119

285

36



No, it isn’t a matter of using a price strategy to list properties at less than market value because we did our CMA (Comparable Market Analysis) and we listed those properties based on our findings.

More than likely, we have entered a Sellers Market where there is little inventory, and there are more buyers seeking to take advantage of the lowest interest rates in decades and lower prices for properties.

InvestorWords.com defines sellers market as “Amarket which has morebuyers thansellers. High pricesresult from this excess ofdemand oversupply.”



Pending Home Sales trend as of March 2012

See article and video in Wall Street Journal "Real Estate Bidding Wars Are Back"

Steve Harney’s Keeping Current Matters blog at www.KCMblog.com provides an excellent illustration.

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Topic:
ActiveRain Community
Location:
California Alameda County
Groups:
Diary of a Realtor
Market Reports
Dedicated Bloggers
CALIFORNIA REAL ESTATE
BananaTude
Tags:
realtor alameda berkeley oakland
sellers market alameda berkeley oakland
pending sales on the rise in alameda berkeley oakland

Comments 2 New Comment

Rainmaker
793,510
Tim Lorenz
949 874-2247
TIM LORENZ of Keller Williams Realty

It is the same in our area tha pendings are increasing.  The sales are also increasing, yet the median prices continue to go down.

April 30, 2012 11:28 AM
Rainmaker
657,458
Pacita Dimacali
Alameda/Contra Costa Counties CA
Alain Pinel

Tim

We have to spread the news. My current listing is getting several offers -- and still, we have an agent and a buyer who will write an offer for less than list price, although the market dictates otherwise.

April 30, 2012 02:19 PM
Rainmaker
657,458

Pacita Dimacali

Alameda/Contra Costa Counties CA
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