Market News from around Alameda
Are you getting tired of that old wallpaper that’s been on your computer screen? I found this site years 
ago called Molecular Expressions. They have photographed almost everything known to man at the molecular level. The photos make for great wallpapers. How about a diamond, a moon rock, a pearl or a 7-Up or a Coca Cola? One of my favorites is my birthstone, the Peridot.
Okay, I know you didn’t come to this blog for some fancy pictures so let’s dig right into what has happened in the marketplace since last Wednesday in Alameda.
We are seeing more of the homes for sale going pending much quickly then they had been. What were once the slow movers the townhome and condominium segments have been gathering steam. Even the bank owned homes are going pending in record time. By record time I mean within days of coming on the market. Escrows however are taking a little longer, in some cases up to forty-five days, but not all of them. If you think you are going to get a bargain trying to buy a bank owned (REO) in Alameda, think twice, multiple offers are back, occasionally in a big way. I’ve heard rumors of some of these homes receiving up to nine offers and the bargain hunters aren’t being included in the verbal “submit your highest and best offer by X amount of days”.
So what’s new or old this week? Here’s the information.
NEW IN THE LAST SEVEN DAYS
| LIST PRICE: | SOLD PRICE: | DOM: |
| HIGH | LOW | AVERAGE | MEDIAN | TOTAL PRICE | LISTING COUNT | $1,300,000 | $2,500 | $495,329 | $475,000 | $8,420,600 | 17 | $0 | $0 | $0 | $0 | $0 | 9 | 0 | 5 | 6 |
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PRICE CHANGE
| LIST PRICE: | SOLD PRICE: | DOM: |
| HIGH | LOW | AVERAGE | MEDIAN | TOTAL PRICE | LISTING COUNT | $1,095,000 | $199,000 | $520,153 | $488,880 | $4,681,380 | 9 | $0 | $0 | $0 | $0 | $0 | 199 | 34 | 101 | 100 |
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PENDING
LIST PRICE: | SOLD PRICE: | DOM: |
| HIGH | LOW | AVERAGE | MEDIAN | TOTAL PRICE | LISTING COUNT | $10,400,000 | $165,000 | $756,290 | $531,305 | $62,015,810 | 82 | $0 | $0 | $0 | $0 | $0 | 352 | 0 | 48 | 25 |
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SOLD
| LIST PRICE: | SOLD PRICE: | DOM: |
| HIGH | LOW | AVERAGE | MEDIAN | TOTAL PRICE | LISTING COUNT | $729,000 | $258,000 | $505,250 | $517,000 | $2,021,000 | 4 | $688,000 | $258,000 | $508,000 | $543,000 | $2,032,000 | 25 | 7 | 15 | 15 |
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ALL AVAILABLE HOMES (excludes most Residential Income properties)
| LIST PRICE: | SOLD PRICE: | DOM: |
| HIGH | LOW | AVERAGE | MEDIAN | TOTAL PRICE | LISTING COUNT | $1,799,000 | $162,900 | $647,411 | $599,500 | $85,458,310 | 132 | $0 | $0 | $0 | $0 | $0 | 310 | 0 | 69 | 51 |
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RESIDENTIAL INCOME ACTIVITY (since the start of the year)
| LIST PRICE: | SOLD PRICE: | DOM: |
| HIGH | LOW | AVERAGE | MEDIAN | TOTAL PRICE | LISTING COUNT | $2,345,000 | $380,000 | $759,900 | $658,000 | $46,353,950 | 61 | $696,000 | $241,000 | $524,681 | $520,000 | $5,771,500 | 414 | 4 | 117 | 94 |
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Wow, if you didn’t catch the news Wednesday night interest rates jumped almost a full point into the mid 5% range. There’s a big ouch to those sitting on the fencepost.
Ciao for now, Chuck