Short Month Short on Sales

I write this post with some caution, because sales sometimes lag into the Multiple Listing Services, but it appears that home sales for the month of February is very slow. With more than half the month over this February is pacing to be the worse month since I started tracking this data last year.

Traditionally, December to March are very slow in the Real Estate industry and for home sales to dip is natural. The big hope is that there will be a sales pop in April like last year when sales more than double from the prior month.

In February of 2007, Alameda saw 21 home sales and up to this point in 2009 we have had seven recorded sales on the MLS. If we continue this pace it looks like the month will have a total of 11 home transactions, almost a 50% decrease from the prior year. 

If anything this must have the people in City Hall a little worried after budgeting in Measure P projections. For those of us who follow the Real Estate market it tells me that the Island is watching from the sidelines to figure out what direction the market is going.

Here are the February Sales:

Sale Date	Address	Prop. Type	Sale Price
02-Feb-09	1305 WEBSTER ST #C102	CONDO	$  164,900.00
03-Feb-09	5 BARKER CT	SFR	$  585,000.00
04-Feb-09	38 ROSS RD	SFR	$  615,000.00
05-Feb-09	1434 PARU ST	SFR	$  499,000.00
06-Feb-09	602 TERN LN	SFR	$  525,000.00
11-Feb-09	815 HAIGHT AVE	SFR	$  531,000.00
13-Feb-09	162 SABLE PT	SFR	$  870,000.00