Market Minute | Alamo, CA December 2018

Tips & Advice

 
Hi, everybody. It is Doug Buenz with the 680 Homes Group at Venture Sotheby’s International Realty. This is your Market Minute for December for Alamo, California.
 
Alamo is an interesting case. Activity is certainly slow across the board, but prices are up, so indicating that some of the higher priced inventory has sold here in November. Inventory in November, the end of November, was 38 single-family homes. That is down from 46 in October. But it is higher than 30 in November of 2017. It is up from last year at this time, but it is down a little bit from October. Not unusual for December market.
 
Pending sales are down as well. There were 10 pending sales in the month of November, as compared to 15 in the month of October. Again, that is not unusual for this time of year. There were 15 in November 2017. It is down a little bit from last year at this time.
 
Of course, closed sales, we had 14 closed sales in Alamo in November. That is down from 17 in October. We had 20 closed sales a year ago in November of 2017.
 
All the activity categories, inventory, pending sales, closed sales, are down.
 
Now, interestingly enough, prices are up, at least in broad based statistics. The average price per square foot for sole properties in Alamo was $575 a square foot in November. That is up from $536 a square foot in October. The peak this year was $591 a square foot, which occurred in July. It is down a little bit from the peak, but holding fairly firm.
 
The median price for Alamo for closed sales in November was $2,128,000 and that is up from $1,750,000 in October. Again, we saw some higher priced trophy properties sell in the month of November, which has skewed the price ranges up.
 
Sales activity down, prices firm to. Let is say firm. The market remains really pretty good, especially given the time of year.
 
That is our Market Minute. As always, if we can help you or someone you know, give us a call at 925-785-7777, or visit our website at 680homes.com. As always, feel free to share this with anybody you think might find it useful. If you have any comments, we would love to hear from you. Thanks so much.

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