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
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