Alpine has a serious real estate problem. Based on the recent sales numbers, the current inventory of homes for sale will be on the market for a very long time.
In the first half of 2008, only 20 homes were sold in Alpine. There are currently 104 homes for sale in Alpine. So, at the pace of 3.3 homes sold a month it would take two and a half years to sell the current inventory. However, there are a few more variables involved. The homes that did sell in Alpine during the first half of the year had a median price of $442,242 and an average price of $500,292. The homes currently on the market have a median price of nearly $700,000 and an average price at more than $950,000.
In addition, there will be new listings. Investers and homeowners who bought in Alpine will eventually have to sell. Right now the number of listings on the market is still on the rise. These listings could be on the market for a long, long time.