Three Thoughts

Today’s post is a collection of three items that have no connection, but I thought they were all relevant to Alameda’s housing market.

Alameda March home sales are off to a slow start with just eight recorded on the MLS  in the first half of the month. Of those sales, five were single family residences, two multi-family and one condo, if we keep this pace the sales will chart out to 16 for the month. If you compared the real estate transactions for March with the prior two years you will find the declining trend continue: 2008 with 20 and 2007 with 36 sales.

Sale Date	Address	Zip	Type	sale price
04-Mar-09	1629 FOLEY ST	94501	SFR	$230,000.00
06-Mar-09	1807 2ND ST	94501	CONDO	$225,000.00
06-Mar-09	2153 CLINTON Ave	94501	MFR	$688,000.00
06-Mar-09	1811 SHERMAN ST	94501	MFR	$465,000.00
09-Mar-09	1828 9TH ST	94501	SFR	$489,000.00
09-Mar-09	1011 BROADWAY	94501	SFR	$390,000.00
12-Mar-09	234 CHESWICK CT	94502	SFR	$633,000.00
13-Mar-09	1305 MOUND ST	94501	SFR	$625,000.00

Item Number 2: I do not follow the rental market very closely, but I was curious so I did a very non-scientific look at the Alameda rental market gathering my data from Craigslist. I looked at about 200 listing over a three day period and here is what I found. The two bedroom apartment had the most inventory with 73 units available, followed closely by the one bedroom with 70 units. The highest rental property was $5,500 per month Ballena Bay Townhome with boat dock. The lowest was a $700 studio. I took a look at median rental and here are those numbers.

Studio: $913

1 Bedroom: $1,145

2 Bedroom: $1,425

3+ Bedroom: $2,300

Item 3: Weekly Inventory Data

15-Mar-09
Total	174
94501	135
94502	39
SFR	93
Condo	52
Multi-Family	28
Short Sale	26
Foreclosure	11
Price Reductions	68
High List	$ 2,345,000
Low List	$    214,900