Real Estate Beat: Alamo Sales, April Stats

Are you hearing that the market has changed? Have you noticed a new “for sale” sign in your neighborhood—and moments later it is sporting a “pending sale” rider?

It’s heating up, that’s for sure. We keep saying that inventory is low. What does that really mean? Let’s say you are looking for a house in Alamo. You want at least 4 bedrooms, and can spend up to $1,200,000. There are currently 12 homes to choose from. If you are avoiding short sales because you need a house on a certain timetable, then you are left with 10. Really want a pool? You have seven to choose from.

Looking for a home in Danville? If you want a 4 bedroom home, and your budget only allows you to go up to $800,000, you’ll find only 10 to choose from; if you aren’t including short sales, then there are only six.

I listed a house in Danville a couple of weeks ago, priced at $699,000. We had 4 offers. It is currently pending, over asking.

My new listing in Alamo, priced at $1,338,000, received six offers. It will close next week—over-asking.

I just received offers last night on my newest listing in Walnut Creek, priced at $749,000. Six offers, and again—we are pending over-asking.

Inventory is still low, but starting to grow in some towns. Alamo had 53 homes on the market in mid-April, now 67. On the other hand, Walnut Creek had 108 homes on the market in mid-April and now has only 88. Here are the end of April inventory numbers, and those from this week:

April 30th inventory numbers:

• Alamo – 65 (+12)
• Danville – 128 (+1)
• Blackhawk – 35 (-1)
• San Ramon – 88 (-10)
• Dublin – 65 (-4)
• Pleasanton – 110 (-9)
• Lafayette – 57 (-11)
• Orinda – 62 (+8)
• Pleasant Hill –32 (+2)
• Walnut Creek – 105 (-3)
• Rossmoor – 58 (-4)
• Antioch – 125 (+15)

5/20/12 inventory numbers:

• Alamo – 67 (+2)
• Danville – 114 (+14)
• Blackhawk – 31 (-4)
• San Ramon – 97 (+9)
• Dublin - 68 (-3)
• Pleasanton – 124 (+14)
• Lafayette – 61 (+4)
• Orinda - 62 (steady)
• Pleasant Hill - 34 (+2)
• Walnut Creek - 88 (-17)
• Rossmoor - 58 (steady)
• Antioch - 111 (-14)

Logically enough, inventory is low (in part) because sales are up. In fact, from San Ramon through Alamo, when we examine the number of home sold so far this year, it’s the highest it’s been since 2004. 

April sales were strong. In Danville, 79 sales with a high of $3,265,000 and a low of $190,000 and a median ppsf of $306. In Blackhawk, 11 sales ranging from $640,000 to $1,810,000 with a median ppsf of $337. In Alamo, 26 sales with a high of $1,765,000 and low of $750,000 and a median ppsf of $346. Details on the Alamo April sales follow:

• 2165 Nelda Way  $792,000  3 bedrooms, 2.5 bathrooms, 2849 sf, .62 acre lot, built in 1978. This came on the market in March of 2010 for $799,000 as a short sale. It pended three times, with the 3rd buyer in October 2011, but that wasn’t the charm. The bank foreclosed and the home became an REO and sold for $750,000 or $263/sf. (REO)
• 115 Mountain Canyon  $803,500  4 bedrooms, 3 bathrooms, 2605 sf, .45 acre lot, built in 1977. Another house that didn’t sell as a short sale and became an REO. On the market for $740,000 at the end of 2010. That was an attractive price, but when it pended for lender approval, the lender countered with a higher price and the home went back on the market for $835,000. Eventually became bank-owned and sold for $783,000 or $301/sf. (REO)
• 115 Bando Ct  $825,000  4 bedrooms, 3.5 bathrooms, 3420 sf, .41 acre lot, built in 1976. Yet another example of a short sale that didn’t sell. This went on the market for $995,000 in June last year, reducing to $795,000 it was pulled off the market. This year it came on as a bank-owned property, and sold for $850,000 or $249/sf. (REO)
• 234 Smith Rd  $895,000  3 bedrooms, 1.5 bathrooms, 1690 sf, .98 acre lot, built in 1952. This is a small house on a huge lot—lots of potential. Sold for $886,065 or $524/sf. (Regular Sale)
• 341 Castle Crest Rd  $925,000  4 bedrooms, 2 bathrooms, 2900 sf, 1.2 acre lot, built in 1973. Very pretty house with stunning views and some very nice finishes. It may sound weird, but I found the ceilings in this home to be especially charming. You had to see them—very special ceilings! This originally came on the market for $1,099,000 and sold for $860,000 or $297/sf. (Short Sale)
• 62 Sandra Ct  $1.095,000  4 bedrooms, 3 bathrooms, ½ acre lot, built in 1957. Flat lot, pool, single story; this house appealed to a lot of people. Located between Danville Blvd and the freeway on the Westside, near Rancho Romero. Sold fast, and went over asking: sold for $1,150,000 or $401/sf. (Regular Sale)
• 2471 Royal Oaks Dr  $1,095,000  4 bedrooms, 4 bathrooms, 2 half baths, 3525 sf, .66 acre lot, built in 1964. This home started at $1,175,000, and at that price, it wouldn’t have been a short sale. Lovely setting in Roundhill, tucked back behind gates with privacy. Sold for $890,000 or $252/sf. (Short Sale)
• 3021 Lunada Lane  $1,100,000  4 bedrooms, 3 bathrooms, 2721 sf, .65 acre lot, built in 1977. Great Westside location, behind the Alamo Plaza and near the Trail. Sold for $1,060,000 or $390/sf. (Regular Sale)
• 17 Darlene Ct  $1,149,000  4 bedrooms, 3 bathrooms, 2451 sf, .45 acre lot, built in 1965.  Wonderful Westside location, off Las Trampas: flat lot with pool, cul-de-sac. Sold for $1,140,000 or $465/sf. (Regular Sale)
• 23 Scripps Haven Lane  $1,149,950  4 bedrooms, 2.5 bathrooms, 3067 sf, .53 acre lot, built in 1986. Charming home on the Walnut Creek border (WC schools). Sold for $1,136,250 or $370/sf. (Regular Sale)
• 55 Las Quebradas Lane  $1,250,000  3 bedrooms, 2.5 bathrooms, 2671 sf, .75 acre lot, built in 1954. Beautifully updated home on a large flat parcel with pool. Sold for $1,200,000 or $449/sf. (Regular Sale)
• 721 Anderson Ranch Ct  $1,275,000  4 bedrooms, 3 bathrooms, 3144 sf, ½ acre lot, built in 1998. Great cul-de-sac near Alamo School. Sold for $1,225,000 or $390/sf. (Regular Sale)
• 3019 Stonegate Dr  $1,295,000  4 bedrooms, 3 bathrooms, 3619 sf, .36 acre lot, built in 1989. Sold for $1,250,000 or $345/sf. (Regular Sale)
• 1433 Livorna Rd  $1,295,000  5 bedrooms, 3 bathrooms, 3031 sf, .79 acre lot, built in 1966. Set back off the street, tucked away—single story rancher with pool on a large flat lot. Sold for $1,235,000 or $407/sf. (Regular Sale)
• 139 Vernal Dr  $1,299,000  6 bedrooms, 4 bathrooms, 3266 sf, .85 acre lot, built in 1985.  Gorgeous remodel—on the corner of Livorna, but with a large lot and pool. Sold for $1,286,900 or $394/sf. (Regular Sale)
• 2000 Ridgewood Rd  $1,299,000  4 bedrooms, 2 bathrooms plus 2 half baths, 3895 sq feet, 1.9 acre lot, built in 1957. Ridgewood is tricky to get to: just behind Alamo Plaza, but way up on the ridge, the road is windy and narrow. Once you get there, this house is a nice contemporary—gorgeous views and a pool.  A very pretty setting with a large (not flat) lot. Originally priced at $13,45,000, this sold for $1,125,000 or $296/sf. (Regular Sale)
• 3070 Stonegate Dr  $1,300,000  4 bedrooms, 4.5 bathrooms, 4224 sf, .32 acre lot, built in 1994. Located in Stonegate, the only staffed gated community in Alamo. Tucked into the base of Mt Diablo (and with trail access and surrounded by open space), this is a quiet area, yet close to the freeway. HOA amenities include the gate and tennis court, and the monthly dues are low—only $165. This house originally came on the market in June for $1,498,888, and it sold for $1,268,888, (note the lucky 8’s) or $300/sf. (Regular Sale)
• 180 Oak Rd  $1,399,000  3 bedrooms, 3.5 bathrooms, 3740 sf, .95 acre lot, built in 1954. Located in delightful Alamo Oaks (large lots, horse property, feels like country), this single story home is nicely updated, huge lot with pool. Sold for $1,375,000 or $368/sf. (Regular Sale)
• 513 Justin Morgan Dr  $1,399,000  5 bedrooms, 4 bathrooms, 4120 sf, .42 acre lot, built in 1999. This house originally came on the market in September of 2010 for $1,699,000. Newer construction, adorable curb appeal, very nice finishes throughout. The only objection buyers had with this home was that the backyard is not flat. Reduced many times, and finally sold for $1,350,000 or $328/sf. (Regular Sale)
• 14 Sandra Ct  $1,459,000  5 bedrooms, 4 bathrooms, 4070 sf, .75 acre lot, built in 1983. Located between Danville Blvd and the freeway, this home is Westside near Rancho Romero. Beautifully remodeled and expanded—buyers expected to have freeway noise, but were pleasantly surprised (noise travels up). Sold for $1,409,000 or $346/sf. (Regular Sale)
• 2840 Litina Ct  $1,548,000  5 bedrooms, 4.5 bathrooms, 4637 sf, .54 acre lot, built in 1972. Beautifully remodeled and expanded, tucked away on a flag lot, private backyard with pool. Originally came on the market in July for $1,799,000. Sold for $1,500,000 or $323/sf. (Regular Sale)
• 330 Kimberwicke Ct  $1,635,000  5 bedrooms, 4 bathrooms, 3762 sf, .94 acre lot, built in 1991. Beautiful home with fabulous backyard and pool, huge lot. Sold for $1,600,000 or $425/sf. (Regular Sale)
• 19 Golden Grass Ct  $1,681,490  4 bedrooms, 4.5 bathrooms, 4697 sf, .4 acre lot, built in 2011. One of the last (or maybe the last) of the brand new homes for sale across from Monte Vista HS. Sold for $1,611,000 or $343/sf. (Regular Sale)
• 4065 Stone Valley Oaks  $1,694,950  4 bedrooms, 4.5 bathrooms, 3700 sf, .54 acre lot, built in 2001. This popular neighborhood has been successfully getting the best ppsf in town. This house is no exception: sold for $1,645,950 or $445/sf. (Regular Sale)
• 1537 Serafix Rd  $1,749,000  5 bedrooms, 5.5 bathrooms, 5051 sf, .37 acre lot, built in 1997. Located in Stonebridge, a quiet neighborhood at the base of Mt Diablo, this home included a pool and casita. Sold for $1,660,000 or $329/sf. (Regular Sale)
• 1537 Justn Morgan Dr  $1,799,000  5 bedrooms, 4.5 bathrooms, 4160 sf, .54 acre lot, built in 2000. Beautiful home oozing with curb appeal, gorgeous backyard and pool. Private setting. Total WOW factor, this house received multiple offers. Sold for $1,765,000 or $424/sf. (Regular Sale)