Alameda Inventory Continues to Stay Flat

I have not been posting the past few days because I have been attending the National Association of Realtors Expo in San Diego. Today is the final day of the gathering and I will be heading back home later today.

It has been good to get the pulse of those who work in the industry everyday, but the jammed pack days have kept me away from my duties of keeping up with our local market.

Over the past nine weeks inventory has been flat ranging between 122 and 135 units for sale. This week inventory stayed in this range at 125 units, but there was a visible increase in distressed properties. In terms of total inventory distressed properties account for 37 percent of the unit, this was a four percent increase from the prior week.


Link to Larger Chart

The raw numbers are not huge with four new foreclosures and on additional short sale added to the market over the past week. Looking at data from RealtyTrac it hows that the island has 101 properties in pre-foreclosure, 64 ready for auction and 84 banked owned. That 84 number is the one that concerns me, not knowing when or if these will be release into the market could add pressure to an already fragile market.

Below is the inventory for the week.

. . 11/16/2009 . Total 125 . 94501 98 . 94502 27 . SFR 75 . Condo 27 . Multi-Family 21 . Short Sale 21 . Foreclosure 15 . Price Reductions 46 . High List $1,899,000 . Low List $149,000 .