With only two more months left of 2014, most are wondering how 2015 projections are looking for sellers and buyers. A recent forecast by the California Association of Realtors gives much hope to homebuyers for the coming year, with a prediction of a growing supply of inventory, leveling home prices and less competition with investors. There is also a prediction that mortgage interest rates will remain at historically low levels throughout 2015. This is an incredible outlook for the coming year. And with that being said, 2014 has been a very solid year in the real estate market.
In October, Alamo's median sale price had a 3% year over year increase, from $1,370,000 in 2013 to $1,410,000 in 2014. From September to October there was a slight decrease in median sale price of about $10,000. This has been a typical month to month fluctuation throughout the year. The number of sold properties is down nearly 20% year over year, from 16 to 13. And the month to month variation went from 17 in September to 13 in October. And lastly, the new properties and for sale properties are both down year over year. October has been an interesting month with small decreases across the board. Sale prices are still inching up but inventory levels remain fairly low with buyers not being as active as they have been in the past year. It will be interesting to see how the Alamo real estate market fare in the next two months of 2014.
Community Event - November
Alamo's Neighboring Town of Danville - Tree Lighting Ceremony
Lighting of the Old Oak
- Location: Diablo Road and Hartz and Prospect Avenues
- From: 11/28/2014 5:00:00 PM
- To: 11/28/2014 8:00:00 PM
Make memories with your loved ones at Danville’s annual tree lighting ceremony. Watch as Father Christmas and the Snow Angel sprinkle a little magic dust on the old oak tree and bring it to light. Warm feelings will quickly quell the cool air as local choral groups provide musical accompaniment and neighborhood businesses pass out hot beverages.
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