Alamo CA Homes for Sale | Alamo Market Update April 2015
The number of homes for sale in Alamo rose sharply in April, outpacing the increase in sales, the third consecutive month that has happened. Demand remains strong, however, evidenced by the increase in the median sales price and the fact that homes are selling above their list price.
62 homes were for sale in Alamo at the end of April, up 29% from 48 at the end of April and 49 a year ago. Pending sales increased from 17 in March to 21 in April and 20 in April 2014. Closed sales increased by five units, from 15 in March to 20 in April. April’s closed sales were on the market an average of only 16 days, compared to 26 days in March and 45 days in April 2014.
The median sales price, which can be volatile here due to the low level of sales, increased 9% from $1,418,000 in March to $1,550,000 in April. The price per square foot, meanwhile, slipped 3% to $497 in April. A better indicator of demand and pricing here may be the ratio of the sales price to list price, which averaged 103% in April, up from 100% in March and 99% a year ago.
The tables below provide further details on the current Alamo CA market compared to prior periods, as well as a look at different market segments.
Sellers: It is a great time to be selling a home in Alamo. Proper staging and marketing will be important to getting the most for your home. Being prepared to evaluate multiple offers and sift through the options will be critical. While multiple offers will be the norm, being extremely familiar with the Pleasanton market will be critical to get the most value out of your home.
Buyers: Being prepared to act quickly will be the key to getting the home you are looking for. Properties are not staying on the market long and multiple offers are the norm. Understanding the current market and your own strengths as a buyer will put you in a strong position to act on new listings. Intimate knowledge of the Pleasanton market is critical.