Real Estate Beat: September in Alamo

In Alamo, real estate inventory remains low and prices are stronger than last year at this time.

I look at the inventory in Alamo every day.  We started the month at 44 (which was down 4 from the week before, and that was down 9 from the week before that).  Inventory tends to grow a bit on Wednesday afternoon and Thursday (when the new listings come on), so I try to take the pulse on Saturdays. 

Throughout September, Alamo’s inventory roamed in the 40’s.  One day it was as low as 41, and it spiked mid-month with a high of 49.  This last week it was 46, steady for a solid week. 

But Saturday, I pulled up the count and it was 52.  I was so surprised…but found there was a great reason for it: the new homes being built in Alamo Springs were added to the MLS.  Davidon is building in two phases, the first 5 homes have been released and are priced between $2 million and $2.5 million.

Sales in September in Alamo were strong: 21 homes sold, ranging from $780,000 to $1,525,000 with price per sq foot ranging from $267 to $486 (1/3 of the sales were over $400/sf).

Last year at this time, there were 15 sales in September ranging from $580,000 to $1,999,000 with ppsf ranging from $243 to $474 with only 3 properties selling for over $400/sf.

In Alamo, it is definitely becoming more commonplace to see homes selling for $400/sf or more.  I have used that number for years as a starting point in Alamo to price a home (plus or minus for acerage, finishes, desirable area, etc), but now it’s a stronger starting point.   For example, my listing at www.28HagenOaks.com just closed: listed at $1,225,000, sold for $1,290,000 or $475/sf.  On the westside, my listing at www.191LaSerena.com is pending at $434/sf.

Inventory numbers showing the trend from beginning to the end of the month follow:

Alamo – 9/1: 44 (down 4); 9/30: 52 (up 8)
Danville – 9/1: 97 (down 18); 9/30: 94 (down 3)
Blackhawk – 9/1: 30 (down 2); 9/30: 41 (up 11)
San Ramon – 9/1: 62 (down 9); 9/30: 53 (down 9)
Dublin – 9/1: 78 (down 5); 9/30: 55 (down 23)
Pleasanton – 9/1: 80 (up 3); 9/30: 73 (down 7)
Lafayette – 9/1: 45 (steady); 9/30: 42 (down 3)
Orinda – 9/1: 33 (down 4); 9/30: 42 (up 9)
Pleasant Hill – 9/1: 26 (up 3); 9/30: 34 (up 8)
Walnut Creek – 9/1: 79 (down 7); 9/30: 69 (down 10)
Rossmoor – 9/1: 46 (up 7); 9/30: 35 (down 11)
Antioch – 9/1: 119 (up 22); 9/30: 121 (up 2)

New listings in Alamo include a stunning contemporary with amazing views, please enjoy the virtual tour: www.391CastleCrest.com.  Open Sat and Sunday (Oct 6 and 7) from 1:00 – 4:00. 

Also available in Alamo is a wonderful family home in Roundhill Country Club: www.2677Roundhill.com.  This 5 bedroom home with pool has lovely views, is located near the cul-de-sac, and has elegant finishes throughout.

In Orinda, I have a new listing at www.26Oakwood.com.  Newly built (completed in 2004), this is a Tuscan style estate with over 5000 square feet and intricate details throughout the house.  Every ceiling in the home is a work of art.

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.


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