More People Buying

94501 Real Estate gave you the good news for the local Alameda market yesterday at the same time there was another glimmer of a recovery as the National Association of Realtors reported the volume of signed contracts for March to buy previously occupied homes rose for the second month in a row.

So we got two months of people buying.


Homebuyers and investors are taking advantage of bargain prices, low interest rates and a tax credit that have resulted in a uptick of contract writing and purchases. Locally in Alameda we have seen very small gains and April showed a nice gain, but it is way off compared to 2008 and not even close to the number of transactions we saw from 2004-2007.

The news is not all good. Home prices are expected to keep falling for at least another year, though at a slowing pace and there are thousands of homes still in the foreclosure process and not yet on the market. If job losses continue it may keep many buyers from signing a contract for a home.

The Realtors estimate about half of existing home sales are now foreclosures and other must-sell transactions. Nevertheless, many real estate agents are counting on an $8,000 tax credit for first-time homebuyers as their best hope for boosting flagging sales. That incentive was included in the economic stimulus package passed earlier this year.

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Alameda April Sales

April Sales for Alameda, CA has some good news, actually some very good news. Home sales for the Island were up 40-percent from the prior month. To add to the good news was 11 of the 35 sales recorded sold at or above listing price.

Total dollar volume of sales was $20,514,499 that translates into $246,174 in parcel transfer tax for the City of Alameda.

The only negative in the numbers is year-over-year sales are down 34%. Looking deeper into the yearly comparison shows that pricing continues to take a hit. In April 2009 the median sale price was $602,000 and the average sale price was $586,129. Compared to the same month in 2008, the median was $629,000 and the average $635,594.

Sales for the Month
http://spreadsheets.google.com/pub?key=rN1PFyA77PzwFzQZLWQsOpQ

. Sale Date Address Type Beds Baths List Price Sale Price % . 4/1/2009 604 WESTLINE DRIVE SFR 4 3 $ 799,000 $ 785,000 98% . 4/15/2009 985 INDEPENDENCE DR CONDO 2 2 $ 499,000 $ 499,000 100% . 4/10/2009 255 CENTRE CT CONDO 1 1 $ 349,900 $ 345,000 99% . 4/2/2009 1182 SILVA LN SFR 3 2 $ 579,000 $ 524,000 91% . 4/2/2009 1017 HOLLY ST SFR 3 2 $ 608,000 $ 560,000 92% . 4/20/2009 3006 OTIS DR SFR 2 2 $ 469,900 $ 480,000 102% . 4/23/2009 950 SHOREPOINT COURT #106 CONDO 2 2 $ 335,000 $ 330,000 99% . 4/27/2009 2209 SANTA CLARA AVENUE SFR 4 3 $ 728,000 $ 696,000 96% . 4/27/2009 2211 SANTA CLARA AVENUE MFR 0 0 $ 728,000 $ 696,000 96% . 4/7/2009 1027 POST ST SFR 3 2 $ 674,900 $ 638,000 95% . 4/24/2009 214 CYPRESS #F CONDO 3 1 $ 279,000 $ 275,000 99% . 4/11/2009 32 CHESHIRE CT SFR 5 3 $ 879,000 $ 863,000 98% . 4/10/2009 609 HAIGHT AVE SFR 2 1 $ 360,000 $ 268,000 74% . 4/20/2009 1612 MINTRUN SFR 3 2 $ 545,000 $ 520,000 95% . 4/24/2009 2903 BAYVIEW DR SFR 3 2 $ 689,000 $ 670,000 97% . 4/9/2009 4 SUNNY COVE CIRCLE SFR 3 2 $ 799,000 $ 755,000 94% . 4/7/2009 307 ANDERSON RD SFR 5 3 $1080000 $ 1,039,999 96% . 4/30/2009 3230 STERLING AVE SFR 2 1 $ 459,000 $ 459,000 100% . 4/30/2009 537 CENTRAL AVENUE MFR 0 0 $ 525,000 $ 540,000 103% . 4/24/2009 9 REDONDO CT CONDO 2 2 $ 499,000 $ 490,000 98% . 4/23/2009 2231 FULTON LN SFR 3 2 $ 775,000 $ 675,000 87% . 4/27/2009 1321 WEBSTER ST #D301 CONDO 2 1 $ 310,000 $ 320,000 103% . 4/23/2009 939 PARK STREET SFR 2 1 $ 465,000 $ 485,000 104% . 4/1/2009 601 FORTRESS ISLE SFR 3 2 $ 722,000 $ 738,000 102% . 4/23/2009 120 NORWICH RD SFR 3 2 $ 669,000 $ 642,500 96% . 4/6/2009 1016 TAYLOR AVE MFR 0 0 $ 459,000 $ 470,000 102% . 4/24/2009 2705 SAN JOSE SFR 2 1 $ 599,000 $ 602,000 101% . 4/23/2009 8 FERRO COURT SFR 3 2 $ 694,900 $ 665,000 96% . 4/28/2009 1345 FOUNTAIN ST SFR 2 1 $ 619,000 $ 625,000 101% . 4/24/2009 259 CAPETOWN DR SFR 4 2 $ 799,000 $ 768,000 96% . 4/20/2009 350 BRYANT AVE SFR 4 3 $ 880,000 $ 850,000 97% . 4/30/2009 538 HAIGHT AVE SFR 1 1 $ 360,000 $ 355,000 99% . 4/17/2009 1170 9TH ST #36 CONDO 1 1 $ 410,000 $ 399,000 97% . 4/30/2009 410 BRYANT AVE SFR 5 3 $ 889,000 $ 852,000 96% . 4/30/2009 361 ANSEL AVE SFR 4 2 $ 625,000 $ 635,000 102%

Alameda Snapshot: Sailing Season

Last Weekend, was Opening Day on the Bay. Since Alameda has more boat slips than any city in Northern California, boating is a real part of our community. I will be out tonight sailing tonight at Ballena Bay, enjoying the Bay and the mild weather.

Have a great weekend.