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What the heck is going on in the Real Estate Market?
The Appraiser’s Appraisal
Alameda (Main Island)
Sold past 1-6 months (n=202) median (med) $1,225,000 Days on Market (DOM)=15
Sold past 7-12 months (n=217) med $1,300,000 DOM=12
This suggests a primary (year) change of -5.769%.
Sold past 1-3 months (n=76) med $1,150,000 DOM=20
Sold past 4-6 months (n=126) med $1,250,000 DOM=14
This suggests a secondary (quarter to quarter) change of -8.000%.
There are 29 current active listings ranging from $455,000 to $2,800,000 with median DOM at 65 days. Range 2–124 days.
There are 12 pending listings (in contract) ranging from $449,000 to $1,646,772 with median DOM at 34 days. Range 8-68 days.
11/16 review: primary change +2.041%; secondary change -7.869%. 9/30 review: primary change +2.449; secondary change -2.923%.
So, what’s going on? The yearly (primary) trend has accelerated as expected. The quarter-to-quarter trend has also accelerated but is very close to the 11/16 figure. It appears as if the quarter-to-quarter trend may have neared the bottom. This again shows that not all markets are going to have similar patterns. Still, I expect the quarter-to-quarter trend to bottom out in the near term and then start to come back up. This is yet another market worth keeping tabs on, and we will look here again in a few weeks.
Have any other real estate questions? Want to know what’s going on in a different market or sub-market? Just ask!
Appraiser legal stuff:
CA OREA License No. AR041451 – JamesForquer.com – jamesforquer@comcast.net
Data is from EBRDMLS and includes the City of Alameda (Main Island -94501), all MLS residential listings, effective as of 01/18/2023 #realestate
