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Posts Tagged ‘homes in contract’

The East Bay/Alameda County saw 27% of homes in contract in November 2011 which is within the range (25%-35% in contract) of what is usually indicative of a balanced market.

If you are currently looking to buy or sell a home in the East Bay/Alameda County area, click the image below to view our East Bay Monthly Market Update. Visit our site for up-to-date information on East Bay real estate market conditions and to contact me through my Pacific Union Website.

(figures as of November 30, 2011)

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In the Oakland,Berkeley, El Cerrito, Piedmont, Kensington and Albany real estate market we are still experiencing low inventory. Below is a chart showing spikes and drops in inventory over the last 6 months. We saw a significant drop in new listings coming on the market in the last couple of weeks.

click for larger image

Below is a chart showing the same time period and a big spike of homes going into contract.
Homes selling and not many new ones coming on the market are resulting in a surprising number of multiple offer situations as buyers compete for the more desirable and well priced properties. With the recent world wide events and volatility in the stock market, it’s likely these numbers will bounce up and down for the next few weeks.

click for larger image

 

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Spring appears to have arrived in the East Bay and  even with the very rainy weekends a little while ago we have been having a great turnout at open houses.
Below is a chart showing the number of single family homes between $500K -$1M which have gone into contract over the last 12 weeks. This is for Oakland,Berkeley,Albany,Piedmont, Kensington, and El Cerrito.
The sales activity has picked up every week this year, and of interest is the number of transactions which do not show on this chart. In addition to the sales below, our office alone has had 4 higher end properties which were not even on the market go into contract in the last couple of weeks.
A significant number of homes we are showing buyers are ones which either did not sell last year or belong to owners who are not sure if they want to go through putting their home on the market. In other words, we are very short of inventory in many areas, and buyers with particular needs do not have anything to look at!

click on image for full-screen view

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Below are two charts showing the number of single family homes which have gone into contract each week.
This is for Oakland,Berkeley,Albany,Piedmont, Kensington, and El Cerrito.
The top chart is over $500K, the bottom chart is under $500K.

There was almost a doubling of sales activity in the over $500K price range last week, with the market
quite volatile.
The under $500K price range has been more steady, with a spike in activity right before the Federal tax credit ended.

click on image for full-screen view

click on image for full-screen view

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