Economic News…Well 2014 has arrived and one thing is certain which is the continued change in the mortgage markets. In early December the Federal Housing Finance Agency announced that it would increase (beginning in March) the “guarantee fees” charged by Fannie Mae and Freddie Mac. This took many in the industry by surprise and the conventional wisdom is that these tiered charges will be passed on to the consumer in the form of higher mortgage rates. A bit of good news regarding this issue came from Mel Watt (the … [Read more...]
San Ramon Valley Real Estate Inventory Update Spring 2012
The real estate market in the 680 Corridor has been “abuzz” with a lot of chatter regarding inventory, lots of buyers and multiple offers. I decided to take a look at the inventory of homes for sale at the end of April for 2012 versus 2011 in the areas of: Alamo, Blackhawk, Danville, San Ramon and Walnut Creek. After reviewing these statistics the “buzz” certainly seems warranted. I will continue to monitor the inventory levels through the spring / summer and report the findings back here. As always, if you … [Read more...]
Alamo’s 2012 First Quarter Real Estate Results
The first three months of 2012 are "in the books" for the Alamo real estate market so let's see how things are looking compared to last year. As you can see the single family home segment has easily surpassed the results of 2011. A large increase in home sales is also coupled with a moderate increase in the median pricing. The time it takes to get a home into escrow has moved up but mainly due to older listings coming off of the market. The buzzword right now is inventory. Things are moving quickly and if the home … [Read more...]
February Real Estate Review for Alamo
Let's take a look at the Alamo Real Estate Market through the first two months of the year. Activity has started the year at a brisk pace and the buzzword is "lack of inventory". There are a lot of buyers out looking and depending on the price range multiple offers are not unheard of. We see a pretty big jump in closed sales versus 2011 as well as an increase in median prices. The time it took to get homes into escrow appears longer but is most likely attributed to homes which have been on the market longer are … [Read more...]
Alamo’s January Real Estate Update
Well it's time again to start another year and take a look at how real estate in Alamo is performing versus the year gone by. At this point the data is thin so it is difficult to draw any lasting conclusions as to the direction of the 2012 market. As we go through the next few months we will get a pretty good idea of the health of local housing. One thing is for certain: Alamo has experienced a nice jump in activity at the higher end with several homes over $2,000,000 finding buyers including one at … [Read more...]
Alamo 2011 Year End Real Estate Review
The New Year is here and it is time to take a look at how the Alamo Real Estate Market finished out 2011 versus 2010. As far as the single family home market is concerned there was drop off in the number of homes sold with total unit sales down 46 on a year over year basis. Median home prices held steady experiencing a decline of just a touch over one percent. The average time it took to get a home into contract remained steady at just over two months. As far as the Townhouse and Condo market was concerned the … [Read more...]
Alamo 2011 Real Estate Review thru November
The first eleven months of 2011 have come and gone and the Alamo real estate market has rolled along. While we have seen a decrease in the number of homes sold versus last year it is nice to see that pricing is holding steady. The median single family home price is hovering around $1,100,000. Marketing times have also held steady with it taking right at two months for a home to find a buyer. The attached home segment of Alamo is small and has shown the same strain concerning value as the surrounding communities of … [Read more...]
Alamo Year Over Year Real Estate Performance Through October
The first ten months of the year have passed. Here is a look at how the Alamo residential real estate market has performed versus the same period last year. As you can see the single family segment has seen a decline in the number of sales but the good news is that median home prices have held steady. Also, average marketing time has only slightly increased from 62 days to 67 days. Attached homes sales were the same as last year at 7. Median pricing took a hit down a little more than 18%. The sample is really to … [Read more...]
Alamo Year Over Year Real Estate Performance Through September
I cannot believe that the first nine months of 2011 have passed by. Fall is here and the first rains are falling. Here is a look at how real estate in Alamo has performed this year versus 2010. The average marketing time has remained fairly constant at just a little over two months. The median home price of single family homes is down just a touch under 3% while 18 fewer houses have sold this year. I really cannot make any comments on the attached home market as the data set is just two small. … [Read more...]
Short Sale Concentration in San Ramon as of 9.22.11
The following chart shows the concentration of short sales as a percentage of total sales in "sale pending" status. Keep in mind that in most cases short sales take longer to close than traditional sales and may be represented across several months of data. Interested in more information on short sales in San Ramon? Give me a call. … [Read more...]
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