Alameda Inventory Still in Decline

I think the chart says it all, the inventory for homes for sale in Alameda continues to fall. Part is due to the seasonality, part due to an unsure real estate market.

Single family residences fell to under 60 units for the first time this year. Bay Farm (94502) has just 19 units for sale. There are 31 distressed properties for sale making up 30 percent of the inventory.

Short week, short post.



Alameda Inventory Data

. . 12/21/2009 . Total 105 . 94501 86 . 94502 19 . SFR 59 . Condo 19 . Multi-Family 25 . Short Sale 18 . Foreclosure 13 . Price Reductions 37 . High List $1,899,000 . Low List $129,000 .

Mid-month Check In On Alameda Home Sales

Since we are midway through the month, just eight shopping days for you procrastinators, and I though a quick look to see how home sales in Alameda are shaping up.

The good news is the Island already has 17 recorded sales. At this pace we will surpass December 2008's 21 sales. Also in the good news column, is eight of the properties sold so far this month received the asking price or more.

The more concerning item in the data is that five properties we either a short sale or a foreclosure. This is about 30 percent of the properties sold this month fell in the distressed category. The interesting item is the short sales (highlighted in blue) sold below asking compared to foreclosure (highlighted in yellow) sold for above asking. All the distressed properties were below $500,000.

To this point in the month, the median home sale price is $569,000. The average sale price $656,706.

I think that the sales this month are the strongest indication that the Alameda market has stabilized. Homes are selling at a faster pace than the prior year, median home sale price has remained in the high $500,000 range and inventory is clearing out.

The key is to finish the month as strong as it has started.

. Sale Date Address Type Beds Baths Sq Ft List Price Sale Price % . 12/1/2009 1028 MARIANAS LN CONDO 4 2 1766 $499000 $420000 84% . 12/1/2009 2524 BUENA VISTA AVE SFR 4 3 1761 $415000 $400000 96% . 12/1/2009 1401 SANTA CLARA AVE SFR 2 1 1316 $567000 $530000 93% . 12/1/2009 1132 FOUNTAIN ST SFR 2 1 1195 $499000 $555000 111% . 12/2/2009 210 SHEFFIELD RD SFR 4 2 2256 $849000 $845000 100% . 12/2/2009 1304 MORTON ST SFR 3 2 2064 $949999 $938000 99% . 12/3/2009 3042 THOMPSON AVENUE SFR 3 2 1490 $699000 $650000 93% . 12/3/2009 1831 HARVARD DR SFR 4 2 1604 $725000 $699000 96% . 12/8/2009 1209 BAY ST SFR 4 2 3951 $1795000 $1551000 86% . 12/8/2009 3241 ENCINAL AVENUE SFR 3 1 1675 $698000 $698000 100% . 12/8/2009 1037 SAN ANTONIO AV SFR 3 2 1386 $599000 $601000 100% . 12/11/2009 2110 EAGLE AVE SFR 5 1 1880 $434900 $460000 106% . 12/11/2009 470 COLA BALLENA #B CONDO 2 2 1626 $599000 $569000 95% . 12/11/2009 1726 EAGLE AVE SFR 3 2 1491 $381200 $400000 105% . 12/14/2009 547 LINCOLN AVE SFR 5 2 2062 $425700 $430000 101% . 12/15/2009 726 HARBOR RD CONDO 2 2 1550 $479000 $479000 100% . 12/15/2009 268 BRYANT SFR 5 3 3731 $975000 $939000 96% .