Monday, February 8, 2010

Increase in Single Family Homes For Sale

This week the Alameda Real Estate Inventory showed a niced increase with an additional nine units for sale. The increase in Single Family Residences was the most positive part of the increase in inventory.

The SFR market was below 60 units for the past seven weeks, so any bump even a small one is encouraging. Since most of the Island's housing stock is SFRs then an increase in this category is good for the current market, which has been suffering from a lack of inventory. There are 11 news single family listing since last Monday.

New Listings


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List Date List Price Adress Beds Baths Sq Feet Type

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2/5/2010 $648,000 336 LINA AVENUE 4 3.5 3150 SFR

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2/5/2010 $549,000 2015 BUENA VISTA AVENUE 2 1 1318 SFR

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2/5/2010 $619,900 404 KITTY HAWK RD 3 2 1438 SFR

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2/5/2010 $430,000 3116 LA CRESTA 3 2.5 1628 TNHS

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2/4/2010 $450,000 2017 LINCOLN AVENUE 3 2.5 1443 SFR

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2/4/2010 $639,000 404 CAMDEN RD 3 2 1503 SFR

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2/4/2010 $698,000 227 INVERNESS CT 3 2.5 1891 SFR

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2/3/2010 $565,000 7 KINGSBURY COURT 2 3.5 1503 CONDO

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2/3/2010 $470,000 3037 LINDA VI 3 2.5 1628 TNHS

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2/2/2010 $354,900 1819 UNION ST 2 1 997 SFR

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2/1/2010 $250,000 1825 SHORELINE DR #112 1 1 621 CONDO

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2/1/2010 $517,000 1618 6TH ST 2 2 1422 SFR

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2/1/2010 $310,000 447 LINCOLN AVE 2 1 722 SFR

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2/1/2010 $1,300,000 2809 SEA VIEW PKWY 5 3 2744 SFR

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2/1/2010 $779,000 105 SHEFFIELD RD 4 2 1954 SFR

Overall, Inventory still remains low, but relative to the the current sales levels it may be an appropriate level of housing stock until more buyers come to the market. This is the proverbial chicken and egg; in this case buyer and seller. More people will sell when they have people to buy and buyers will buy when there is something that fits their needs to buy.

A shift needs to happen to shake the market loose, but until then I will just continue to monitor the numbers.

Alameda Inventory February 8, 2010


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2/8/2010

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Total 113

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94501 89

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94502 24

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SFR 61

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Condo 31

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Multi-Family 19

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Short Sale 18

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Foreclosure 11

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Price Reductions 29

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High List $1,999,000

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Low List $188,000

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