What's Happening in our Local Markets?



 



 Don Morton

Empire Realty
Office: (925)217-5000
Ext: 3123
Direct:(925) 217-3123
Mobile: (925) 330-1846

dmorton@empirera.com

DRE #00862226

 

 

 


 

 


May 2012


Multiple offers are back!
Is this the time to sell?

Buyers have been stunned to find that multiple offers seem to be everywhere! This trend is not just Bay Area wide, but it is in other parts of the country also. The main causes have been lack of inventory and rock bottom prices. Potential sellers were hesitant to sell during the real estate downturn as prices continued to decline. Buyers were slowed by job uncertainty, other economic conditions and increasingly tight loan standards.

There are still clouds on the horizon of our local real estate markets, but for now, our markets are coming alive! Some serious sellers are deciding that now is the time and that they may luck out with multiple offers and a little better price than they had once expected. Conditions don't seem totally wacky like they did at the peak here in 2005-2007. Multiple offers then usually meant price overbidding. Now most buyers are very well educated on value and are not always willing to consider overpaying. There are some, though, who are willing to overbid. For sellers, this may be a window of opportunity.

INVENTORY

 Apr 2012
vs Apr 2011		 April 2012
Inventory
MSI*
Alamo -51% 3.0 months
Blackhawk -27% 5.0
Clayton -69% 1.1
Concord -76% .9
Danville -64% 1.5
Dublin -62% 1.1
Lafayette -57% 1.8
Livermore -66% 1.0
Martinez -71% .9
Moraga same 1.4
Orinda +9% 3.7
Pleasant Hill -85% .5
Pleasanton -75% 1.1
San Ramon -78% .8
Walnut Creek -59% 1.1


*MSI-is the acronym for Months Supply of Inventory. It is the time it requires for all the homes to be sold at the current sales rate. You can see these numbers are very low in some communities above. This figure gives a good understanding of supply and demand in particular areas. The lower the MSI, the stronger the demand compared to the supply of homes on the market.


Single Family Detached Homes



Alamo, Blackhawk, Danville, San Ramon



 

Pleasanton, Livermore, Dublin

 

_____________

Buyers: There are great buys out there!

 

How Much Have Prices Declined since the Peak?
Single-Family Detached Homes % of Decline as of
Apr 2012		 Peak Price
Year
Moraga -18% 2007
Pleasanton -24% 2006
San Ramon -25% 2006
Lafayette -26% 2006
Danville -29% 2006
Dublin -29% 2005
Orinda -30% 2006
Alamo -33% 2006
Walnut Creek -33% 2007
Blackhawk -34% 2005
Livermore -37% 2006
Pleasant Hill -42% 2006
Clayton -44% 2005
Concord -49% 2005
Martinez -51% 2006

More data is available in the community archive at the bottom on this page.

___________

 

Local Market Activity:
March and April, 2011 and 2012

Single Family Detached Homes

Our local communities are HOT!
Look at the pending sales for Alamo, Blackhawk, Concord, Danville, Dublin, Lafayette, Livermore,
Martinez, Moraga, Pleasant Hill, Pleasanton, San Ramon, and Walnut Creek!
Closed Sales are also UP particularly in Alamo, Blackhawk, and Lafayette!
Prices have started trending UP in Alamo, Concord, Martinez, Moraga, and Orinda.


  # of Pending
(Under Contract) Sales 		# of Closed Sales Median Closed Sales Prices
  March 2012
vs
March 2011		 April 2012
vs
April 2011		 March 2012
vs
March 2011		 April 2012
vs
April 2011		 March 2012
vs
March 2011		 April 2012
vs
April 2011
Alamo +108% +31% +217% +71%

+28%

 +19%
Blackhawk +43% same +167% +12% +44% -4%
Clayton -12% +38% -10% -20% +4% -16%
Concord +19% +41% +19% -26% +4% +13%
Danville +40% +37% -12% +45% -13% -1%
Dublin +32% +22% -21% +31% -11% -16%
Lafayette +60% +27% +59% +32% -2% -12%
Livermore +45% +17% -17% +1% -11% -0%
Martinez +68% +29% -20% +15% -6% +7%
Moraga +114% same +75% same +6% +19%
Orinda +100% -11% +6% +8% +2% +20%
Pleasant Hill +38% +70% -19% +59% +17% +7%
Pleasanton +44% +87% -25% -6% -11% +12%
San Ramon +62% +62% -16% +2% +0% -0%
Walnut Creek +35% +14% -9% +36% +7% -4%

____________

Closed Sales: Bank Properties
  Single Family Detached Homes
April
2011		 % of
All Sales*		 April
2012		 % of
All Sales*		  
Alamo 5 36% 4 17%
Blackhawk 0 0% 1 11%
Clayton 2 13% 5 42%
Concord 55 53% 36 47%
Danville 11 28% 10 17%
Dublin 14 54% 15 44%
Lafayette 2 9% 2 7%
Livermore 41 50% 32 39%
Martinez 20 52% 18 40%
Moraga 0 0% 0 0%
Orinda 3 25% 3 21%
Pleasant Hill 9 41% 10 29%
Pleasanton 15 24% 14 24%
San Ramon 24 39% 13 21%
Walnut Creek 11 19% 16 36%

 

*All sales in full market, bank and non-bank properties
Bank Properties represent the number of bank mediated properties.
There may be other foreclosures or short sales that were not reported to our MLS
and therefore not included in these calculations.

 

 


More recent real estate info
from the California Association of Realtors®

BEYOND THE HEADLINES
including
.It's Safe To Sell Your Home Again
.Low Ball Offers Decline in Some Markets
. And more



Local Community Snapshot:

All figures are for single-family, detached homes and reflect year to date calculations.
Some sales prices were not reported or were reported as $0. Those are not included.

Data is continually being reported to our MLS so all numbers are subject to change and
what appears below now may change somewhat as new data is reported. There may be some inaccuracies.

The median calculation puts sales in order of price and finds the middle value (extreme values are therefore eliminated).
The average adds up all the prices and then divides by the number of properties (extreme values are included).

Alamo (year to date)
Average Closed Sales Price: $1,141,439
Median Closed Sales Price: $1,138,125
Average Days on Market: 86
Total Closed Sales YTD: 72
Number YTD Closed Sales Under $1M:26
Number YTD Closed Sales Over $1M: 46
Sales Price Not Reported: 4

 

Blackhawk (year to date)
Average Closed Sales Price: $1,080,105
Median Closed Sales Price: $950,000
Average Days on Market: 82
Total Closed Sales YTD: 34
Number YTD Closed Sales Under $1M: 18
Number YTD Closed Sales Over $1M:16

 

Danville (year to date)
Average Closed Sales Price: $841,068
Median Closed Sales Price: $765,000
Average Days on Market: 55
Total Closed Sales YTD: 152
Number YTD Closed Sales Under $1M: 124
Number YTD Closed Sales Over $1M:28
Sales Price Not Reported: 4


San Ramon (year to date)
Average Closed Sales Price: $730,408
Median Closed Sales Price: $717,000
Average Days on Market: 42
Total Closed Sales YTD: 187
Number YTD Closed Sales Under $1M: 172
Number YTD Closed Sales Over $1M: 15

 

Walnut Creek (year to date)
Average Closed Sales Price: $658,528
Median Closed Sales Price: $639,000
Average Days on Market 49
Total Closed Sales YTD: 136
Number YTD Closed Sales Under $1M: 130
Number YTD Closed Sales Over $1M:6


Pleasanton (year to date)
Average Closed Sales Price: $805,686
Median Closed Sales Price: $685,000
Average Closed Sales Days on Market:38
Total Closed Sales YTD:171
Number YTD Closed Sales Under $1M: 136
Number YTD Closed Sales Over $1M: 35


Dublin (year to date)
Average Closed Sales Price:$606,627
Median Closed Sales Price: $575,000
Average Days on Market:33
Total Closed Sales YTD: 94
Number YTD Closed Sales Under $1M: 90
Number YTD Closed Sales Over $1M:4

 

Livermore (year to date)
Average Closed Sales Price: $462,730
Median Closed Sales Price: $425,000
Average Days on Market: 35
Total Closed Sales YTD: 295
Number YTD Closed Sales Under $1M: 291
Number YTD Closed Sales Over $1M: 4


(Sales History Archive: Compare this year with recent past)
Sold prices since 2003, market price peaks, numbers of closed sales, days on the market

Data above copyright© Contra Costa Association of Realtors®, 2012. Information is thought to be accurate but is not guaranteed and is intended only as a general market snapshot. MLS data is fluid and changes daily as new data is input. MLS data sometimes has reporting errors and there may be some inaccuracies in calculations both from MLS and in preparing this report. Sales NOT reported to our Multiple Listing Service are not included. The accuracy of information on any linked web sites has not been verified and is not guaranteed. This market compilation copyright© www.ourremarket.com, 2012. All rights reserved. No reproduction without permission.