Alamo Single Family Home Sales…Good News Continues
This month I pulled a year’s worth of single family home data going back to December 1, 2016 and ending with December 7, 2017 to provide as clear a picture as is possible for Alamo with just a few weeks remaining in the calendar year. In the last year there were a total of 426 properties listed on MLS that were not withdrawn or cancelled. That works out to be a market availability of about 35 homes per month for buyers to choose from. That is not markedly different from last year. So unless things change dramatically during the next year, inventory is likely to remain tight in Alamo.
There are as of today 36 active listings. There are 196 properties pending and 194 properties have been sold. For homes sold, the average sold price for this time period sits at $1,873,577 dollars. The median price for these sales stands at $1,650,000. The Average days on market for the active listings is 63, for pending properties it is 32 days and for sold listings its 33 days. Three to six months to sell would be considered normal, so Alamo continues to be a fairly fast market. Homes priced outrageously high will not sell period. Priced correctly, Alamo sells fast.
Included is a bell curve chart based upon our search criteria and divided into 25%, 50% and 75% percentiles. This layout provides a better sense of how different listings fared for days on market and also a looks at the difference between median and average price by grouping rather than the market as a whole. In the center grouping, there is almost no difference between average and median price. Also, you can see that days on market for this grouping is a mere 24 days.
The bottom 25% percentile is less than or equal to $1,448,500. The 50% percentile is between $1,448,500 and $2,103,750 and the top 75% is equal or more than $2,103,750.
Although not included in this chart, pending sales are tracking almost perfectly with sold properties in terms of price, which means sales during the late season are not retreating from early season prices. That is a good sign for continuing market strength.
Happy Holidays! May all your dreams come true.
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Joe and Nancy Combs, The Combs Team, have a high degree of focus on Danville Real Estate Market and Alamo Real Estate Market and sell Real Estate throughout the East Bay. As always, if you have any questions about the Alamo and Danville California real estate markets, or finding that perfect home for sale in the East Bay, please let The Combs Team know! Call Joe Combs 925-989-6086 or Nancy Combs 925-351-6999.
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Data presented in this column is based in whole or in part on data supplied by the Contra Costa and Alameda MLS service and other quoted sources.
Joe Combs, Nancy Combs, The Combs Team, J. Rockcliff Realtors and the MLS service do not guarantee the accuracy of this information. DRE #0144125.
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