Now that it's been declared that we're officially in a recession, it is even more note-worthy to point out some positive things that are happening in our local market.
Checking activity since October 1, 2008 in our little island of Alameda, CA
SOLD - on the market an average of 50 days, have an average sold price of $648,717 for an average of $367/sq ft.
- 23 closed escrow
PENDING - on the market an average of 67 days before getting offers accepted, Average list price is $497,166, and average of $365/sq ft. Total: 23 pending
- 16 pending sales
- 1 pending court confirmation
- 9 pending, show for back-ups
- 6 pending subject to lender approval
ACTIVE - on the market an average of 70 days, with an average list price of $646,077, and average of $389/sq ft. Total: 129 active as of this writing
- 5 active contingent
- 111 active for sale
- 8 just came on the market
- 5 just reduced the price
These numbers won't mean much, until one knows that our little island of Alameda only has approximately 72,000 residents. Just over half are property owners and the rest are renters.
Therefore, these numbers are encouraging. This shows we do have buyers, and they're looking in Alameda. The number of days properties are on the market are considerably less than surrounding areas. There's definitely activity, and we're pumped, joyful, thankful.
Thank you, thank you, thank you!