August Home Sales Take Big Chill

After a big run up in sales prior to the end of the Federal Tax Credit, home sales in Alameda dipped in the month of August significantly. The decline in sales is reflective of what is happening across the country where sales haven fallen off as credit has been become more difficult and buyers are wary to buy a home. Alameda sales are down 41-percent in May and 34-percent from June.

Looking back the past two years August had 56 sales in 2009 and 48 in 2008 compared to 35 this year. This is a 27-percent decline year-over-year. The combination of growing inventory and slow sales will continue to put pressure on the Alameda market.

Both the median ($578,000) and average sale ($623,951) price were up in August. The median is the highest since June of last year and the average you have to go back to November 2008.

The positive for sales were May and June, the sales number were very good compared to the last two year. Both months exceed the prior two years sales for the same time period. Most of this was due to buyers taking advantage of the tax credit.

Alameda Home Sales Graph from January 2009 to August 2010:

Sale Date	Address	zip	Sale Price
03-Aug-10	234 SHEFFIELD RD	94502	$855,000
03-Aug-10	1801 VERSAILLES AVENUE	94501	$850,000
04-Aug-10	2101 SHORELINE DR #461	94501	$365,000
06-Aug-10	983 PARK ST	94501	$409,500
10-Aug-10	119 CENTRAL AVENUE	94501	$465,000
10-Aug-10	1200 SAN ANTONIO AVE	94501	$1,635,000
11-Aug-10	608 FORTRESS ISLE	94501	$790,000
11-Aug-10	1825 NASON ST	94501	$390,000
12-Aug-10	2615 WASHINGTON ST	94501	$525,000
12-Aug-10	3402 REDHOOK LN	94502	$425,000
12-Aug-10	1712 THIRD STREET #305	94501	$265,000
12-Aug-10	2935 SOUTHWOOD DR	94501	$1,200,000
13-Aug-10	1516 FIFTH STREET	94501	$678,000
13-Aug-10	2015 LINCOLN AVE	94501	$530,000
13-Aug-10	1713 EAGLE AVE	94501	$500,000
13-Aug-10	1001 SHORELINE DR #108	94501	$419,300
17-Aug-10	410 MARSHALL WAY	94501	$470,000
17-Aug-10	1001 SHORELINE DR #406	94501	$412,000
18-Aug-10	965 SHOREPOINT CT #222	94501	$298,000
20-Aug-10	356 ANDERSON RD	94502	$960,000
20-Aug-10	2778 SHANER DR	94502	$607,500
20-Aug-10	534 QUEENS ROAD	94501	$578,000
20-Aug-10	950 SHOREPOINT CT #216	94501	$185,000
23-Aug-10	2845 ENCINAL AVE	94501	$638,000
23-Aug-10	837 PACIFIC AVE	94501	$455,000
27-Aug-10	1 STONE HBR	94502	$780,000
27-Aug-10	1305 HANSEN AVE	94501	$776,000
27-Aug-10	2157 SAN ANTONIO AVE	94501	$745,000
27-Aug-10	1555 SANTA CLARA AVE	94501	$565,000
30-Aug-10	1809 KOFMAN PARKWAY	94502	$838,000
30-Aug-10	1312 SAN ANTONIO AVE	94501	$650,000
31-Aug-10	236 RATTO RD.	94502	$879,000
31-Aug-10	632 ARLINGTON ISLE	94501	$705,000
31-Aug-10	22 BRITT COURT	94502	$620,000
31-Aug-10	3523 OLEANDER AVE	94502	$375,000
	Median		$578,000
	Average		$623,951

For More Detail
August 2010 Sales

Results of 94501 Real Estate Survey

Today we look at the results of the 94501 Real Estate Survey and how Alameda feels about the status of owning a home on the Island. Just a note, this is not a scientific in anyway, the number responses (23) make the survey just an interesting to look at and not even close to being statistically relevant.

Most on the people surveyed feel that the market will continue to decline, although they believe the decline will be relatively small between 1-5%. Combine that group with those who think the market will be flat and 73% of those survey have a conservative view of 2009.

Most people, 65%, see a house as part of their investment mix but more than 20% do not see it as a wealth investment.

The survey group thinks that the housing price decline in Alameda will last until the end of 2009, but the overwhelming number of people still see that Alameda is a good buy.

Home that you find this of interest.

 

1. What direction do you think Alameda home values will go in 2009?	Response Percent
Way up 10% or more	4.30%
Up a Little 1-5%	8.70%
Flat	26.10%
Down a Little 1-5%	47.80%
Way Down 10% or more	13.00%
2. Do you see real estate as your best shot at wealth?	Response Percent
It is my only way	4.30%
It is part of an investment mix	65.20%
Don't Know	8.70%
Real Estate is not a wealth investment	21.70%
Life long renter	0%
3. How long will price in Alameda continue to decline?	Response Percent
We hit bottom	8.70%
1-3 months	13%
6-12 months	60.90%
2010	8.70%
2011	8.70%
4. Do you think buying in Alameda is a good value?	Response Percent
Yes	81.80%
No	18.20%