This market is red hot.
Home sales remained stable with the total sales for Contra Costa and Alameda County at 2,284 for the month of October 2009. This was down less that 1% from September. Though it was down from 2,482 sales in October of 2008, the total was more than double October 2007's 1,010 sales.
Inventory continued to tighten. Both Alameda and Contra Costa County are now just above 2 months of inventory. These are numbers similar to what we saw from 2002-2006.
As you can see from the chart above, REO numbers remain way down. Without foreclosures being brought to market, lack of inventory is creating bidding-wars on property - especially at the low end.
As long as this pattern continues, expect the low-end to strengthen, and the mid-range to hold stable.
High-end prices will likely continue to soften as financing is scarce and there are a lack of move-up buyers.
Here are break-downs by city:
| 11/1/2009 |
MLS Active |
SHORT SALE |
REO |
% Distressed |
| Alameda County |
2406 |
657 |
415 |
44.56% |
| Contra Costa County |
2644 |
739 |
412 |
43.53% |
| Alameda |
90 |
14 |
7 |
23.33% |
| Alamo |
106 |
11 |
8 |
17.92% |
| Albany |
41 |
4 |
4 |
19.51% |
| Antioch |
206 |
97 |
66 |
79.13% |
| Bay Point |
37 |
20 |
11 |
83.78% |
| Berkeley |
91 |
12 |
11 |
25.27% |
| Blackhawk |
58 |
2 |
3 |
8.62% |
| Brentwood |
156 |
57 |
30 |
55.77% |
| Castro Valley |
120 |
28 |
15 |
35.83% |
| Clayton |
37 |
7 |
1 |
21.62% |
| Concord |
165 |
68 |
33 |
61.21% |
| Danville |
164 |
24 |
6 |
18.29% |
| Diablo |
16 |
0 |
0 |
0.00% |
| Discovery Bay |
74 |
31 |
9 |
54.05% |
| Dublin |
96 |
31 |
12 |
44.79% |
| El Cerrito |
34 |
3 |
5 |
23.53% |
| El Sobrante |
27 |
9 |
4 |
48.15% |
| Emeryville |
58 |
13 |
4 |
29.31% |
| Fremont |
279 |
66 |
26 |
32.97% |
| Hayward |
240 |
104 |
49 |
63.75% |
| Hercules |
45 |
33 |
5 |
84.44% |
| Lafayette |
81 |
3 |
4 |
8.64% |
| Livermore |
191 |
59 |
30 |
46.60% |
| Martinez |
129 |
33 |
25 |
44.96% |
| Moraga |
48 |
4 |
1 |
10.42% |
| Newark |
51 |
20 |
14 |
66.67% |
| Oakland |
729 |
191 |
171 |
49.66% |
| Oakley |
112 |
34 |
36 |
62.50% |
| Orinda |
73 |
3 |
3 |
8.22% |
| Piedmont |
18 |
0 |
0 |
0.00% |
| Pinole |
42 |
13 |
10 |
54.76% |
| Pittsburg |
137 |
65 |
33 |
71.53% |
| Pleasant Hill |
62 |
21 |
10 |
50.00% |
| Pleasanton |
147 |
17 |
5 |
14.97% |
| Richmond |
251 |
92 |
58 |
59.76% |
| Rodeo |
16 |
9 |
4 |
81.25% |
| Rossmoor |
143 |
4 |
2 |
4.20% |
| San Leandro |
136 |
48 |
41 |
65.44% |
| San Pablo |
52 |
19 |
20 |
75.00% |
| San Ramon |
122 |
32 |
11 |
35.25% |
| Union City |
82 |
33 |
17 |
60.98% |
| Walnut Creek |
205 |
41 |
12 |
25.85% |
| 11/1/2009 |
MLS Active |
MLS Sold Last Month |
Months Inventory |
| Alameda County |
2406 |
1080 |
2.23 |
| Contra Costa County |
2644 |
1204 |
2.20 |
| Alameda |
90 |
59 |
1.53 |
| Alamo |
106 |
17 |
6.24 |
| Albany |
41 |
6 |
6.83 |
| Antioch |
206 |
147 |
1.40 |
| Bay Point |
37 |
18 |
2.23 |
| Berkeley |
91 |
34 |
2.68 |
| Blackhawk |
58 |
6 |
9.67 |
| Brentwood |
156 |
97 |
1.61 |
| Castro Valley |
120 |
33 |
3.64 |
| Clayton |
37 |
7 |
5.29 |
| Concord |
165 |
120 |
1.38 |
| Danville |
164 |
44 |
3.73 |
| Diablo |
16 |
0 |
|
| Discovery Bay |
74 |
27 |
2.74 |
| Dublin |
96 |
36 |
2.67 |
| El Cerrito |
34 |
18 |
1.89 |
| El Sobrante |
27 |
14 |
1.93 |
| Emeryville |
58 |
10 |
5.80 |
| Fremont |
279 |
164 |
1.70 |
| Hayward |
240 |
137 |
1.75 |
| Hercules |
45 |
32 |
1.41 |
| Lafayette |
81 |
30 |
2.70 |
| Livermore |
191 |
74 |
2.58 |
| Martinez |
129 |
43 |
3.00 |
| Moraga |
48 |
11 |
4.36 |
| Newark |
51 |
37 |
1.38 |
| Oakland |
729 |
270 |
2.70 |
| Oakley |
112 |
77 |
1.45 |
| Orinda |
73 |
16 |
4.56 |
| Piedmont |
18 |
10 |
1.80 |
| Pinole |
42 |
7 |
6.00 |
| Pittsburg |
137 |
78 |
1.76 |
| Pleasant Hill |
62 |
30 |
2.07 |
| Pleasanton |
147 |
54 |
2.72 |
| Richmond |
251 |
109 |
2.30 |
| Rodeo |
16 |
6 |
2.67 |
| Rossmoor |
143 |
48 |
2.98 |
| San Leandro |
136 |
76 |
1.79 |
| San Pablo |
52 |
45 |
1.16 |
| San Ramon |
122 |
73 |
1.67 |
| Union City |
82 |
56 |
1.46 |
| Walnut Creek |
205 |
71 |
2.89 |
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