I collect my data from multiple sources, primarily the Multiple Listing Service (MLS), but I like to cross reference it with other online sources when I have a chance. Trulia has a lot of great stats and you can really get lost in the numbers, but here is a snapshot of how they see the
Alameda Real Estate Overview
Market View for Alameda
-2.8%
w-o-w
-14.5%
y-o-y
The numbers are very dramatic with big declines in listing and median sale prices. The one number that is overstated is the foreclosure numbers, I only report foreclosures that are actually "for sale" and on the market. Trulia reports foreclosures that includes properties in the pre-foreclosure, auction, and bank-owned stages of the foreclosure process.
Here is how they define the other numbers:
Average Listing Price for the most recent week available is based on daily list price data for resale and new homes on Trulia and is compared to the same period one week prior.
Median Sales Price is based on sales during the most recent 90-day period available and is updated each week to include recent transactions from public record data sources. The Median Sales Price is the price at which one-half of the homes sold for more than that amount and one-half of the homes sold for less than that amount.
Recently Sold is a count of all known arms-length residential sales in the last 9 months according to public records.
The Median Sales Price chart shows a real steady and downward decline in sales price. The other chart shows Average Price Per Square Foot, the last 12 months has now fallen below the cost of five years ago. Currently the Average Square Foot Price $333 compared to $342 five years prior. The two bedroom home has seen the largest decline, of 28.5% year-ver-year.
John,
ReplyDeleteWhat are your thoughts on the difference between median price and avg. price per sq. ft.?
The sq.ft. price would seem to be the most relevant, especially as total sales decline the median price becomes more volatile.
Also, Ive seen numbers that remove foreclosure sales from the median, is that something that's easily available somewhere?
As always, love the blog!