The Inventory for Alameda Home Sales remains as flat as the island itself. The total number of properties for sale has ranged from 149 to 169 units since December of last year. The band has narrowed the last eight weeks with inventory fluctuating between 163 and 169 properties looking for new owners.
A closer look shows that much of the property has come on the market the last 30-days. One-third of the properties for sale today have been placed on the MLS over the course of the last month. This is good news because it shows that the inventory is not increasing and is being replaced as other sales close. The bad is given January and February sales we have about eight months of inventory.
The market has really come to a stand-still. Properties that are good values and well priced are moving. With 40 properties on the market for over 90 days it shows that home buyers will not jump in on properties then perceive will decline at a later date.
The properties to watch are those between 30 and 90 days. If they begin to fall into a long sell cycle then we could see inventory begin to build. The one thing I want to be cautious about is those properties removed from the market because of the poor economy and relists. Properties are relisted to appear that they are new to the market. I do not track this, but Knife Catchers does and you should take a look at the posting to see the properties that use this technique.
Last 30 Days: 57 properties
Between 31-60 days: 33 properties
Between 61-90 days: 27 properties
More than 90 days: 40
(The days on market total does not match inventory number because of incomplete MLS information)
Link to Lager Version 6-Apr-09 Total 163 94501 123 94502 40 SFR 95 Condo 42 Multi-Family 25 Short Sale 29 Foreclosure 7 Price Reductions 55 High List $ 2,345,000 Low List $ 199,900 
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