The Westside Alamo real estate market has been in a state of flux over the last several months with inventory levels rising and dropping almost overnight.
The current inventory absorption rate of 6.25 months is the lowest that it has been in a while and even as late as last week was at 10 months. These wide swings can be attributed to the relatively low volume of home sales and the fact that many pending sales fall out of contract. There are currently 4 pending sales in the Westside of Alamo. The list price for these homes are $595,000, $599,000, $869,000, and $1,299,950. The price per square foot for these homes are $419.61, $435.32, $569.46, $498.26. The days on market for these homes are 25, 75, 109, and 32 days. In addition there are 25 active listings. The average price for these active listings is $1,810,423 with an average price per square foot of $524. The highest price active listing is priced at $5,215,000 or $833.33 per square foot. The lowest price listing is priced at $699,950 or $393.67 per square foot. The average days on market for these active listings is 149 days with the longest being at 598 days and the shortest at 5 days.
Analysis
The Westside Alamo real estate market tends to move up and down in terms of inventory level quite rapidly. In general this market resembles that of Westside Danville in that you can have very dramatic swings. 
The real estate market in the Westside of Danville over the last several months has been very inconsistent and unlike other areas in the town
There are 2 pending listings in the Westside of Danville. These homes were listed at $1,398,000, and $1,549,000. The price per square foot for these 2 pending listings are $587.39 and $391.06 with the days on market being 15 and 79. Additionally there are 22 active listings. The average price for these active listings is $1,652,601 or a per square foot price of $517. The highest price listing is on the market for a price of $4,500,000 or $818.18 per square foot. The lowest priced listing is priced at $685,000 or $378.04 per square foot. The average days on market for these listings is 95 days with the longest being at 250 and the shortest at 23 days.
Analysis
The inventory absortion rate has fluxated widely in the Westside Danville area and now sits at 12 months. Compared to the 6.87 months that the town of Danville has as a whole, the Westside Danville market is underperforming. Other areas within Danville such as Greenbrook and Sycamore are tracking very closely to each other and to the towns average. The Westside Danville market is actually tracking closer to the real estate market of Westside alamo. 
The real estate market in Danville has stayed consistent over the last several weeks with homes selling and inventory shrinking and the inventory absorption rate shrinking as well
There are 28 pending sales in the Town of Danville. The average price for these pending listings is $1,062,562 with and average price per square foot of $381. The highest price pending was listed at $2,395,000 or $468.96 per square foot. The lowest price pending listing was listed at $465,000 or $289.54 per square foot. The average days on market for these pendings is 57 days with the longest being at 221 and the shortest being at 1. There are 193 active listings within the Danville Real Estate market. the average price for these active listings is $1,384,584 or $428 per square foot. The highest price listing on the market is priced at $5,400,000 or $770 per square foot. The lowest price listing is priced at $629,00 or $396.60 per square foot. The average days on market for these active listings is 94 days with the longest being at 594 and the shortest at 5 days.
Consistency is the Danville market
Over the past several months the real estate market in Danville has been extremely consistent with between 190 and 200 active properties on the market and 25 to 30 pending sales. This has kept the inventory absorption rate at between 6 and 7 months. Some areas have absoprtion rates right in line with the town as a whole. Greenbrook and Sycamore home sales have tracked very closely with Danville as a whole. Conversley, the areas of Westside Danville and Westside Alamo have absoprtion rates that have had dramatic swings. We have seen absorption rates in these markets fluxuate between 5 and 14 months.
Within the Westside Danville real estate market we have seen the inventory absoprtion rate fluxuate widely over the last several months.
Currently at 11.5 months the inventory absoprtion rate has been moving between a low of 5 months to a high of 14. This is mainly due to the relatively low number of active listings and inconsistency in the pendings. We have found that many of the pending listings fall out of contract due to buyer remorse (or cold feet), and or a difficulty getting financing. With all of the negative news regarding the housing market and economy in general many buyers are feeling pressure and anxiety during escrow and in some cases pull out because they feel that by waitinig they will get a better deal down the road. In some areas though we are seeing a very consistent market with stabile invetory absorption rates. For example, the Danville real estate market, and sub markets of Sycamore and Greenbrook have seen some consistency in their inventory absoprtion rates. The rate in these areas has been hovering between 5-7 months. This is due in part to the lower price point for homes in these areas as compared to those in the Westside of Danville and the Westside Alamo real estate markets.
Current Westside Danville Real Estate Activity
Within the Westside Danville area there are 23 active listings with an average list price of $1,627,858. The highest price listing is priced at $4,500,000 and the lowest is priced at $685,000. These 23 listings have an average price per square foot of $527 with the highest being at $818.18 and the lowest priced at $320.04. The average days on market for these homes is 87 days with the longest being at 243 and the shortest at 12. There are 2 pending listings in the Westside Danville market. These are priced at $1,398,000 and $1,549,000. The price per square foot for these homes are $587.39 and $391.06. The days on market for these 2 homes are 15 and 79.
The Westside Alamo real estate market has seen wide fluxuations in the inventory absorption rate.
The fluxations are caused by the relatively small number of active homes on the market (27) coupled with the significants of the short sale properties. Of the 4 pending sales within the Westside Alamo real estate market 2 of them are short sales. These have a significant impact on the inventory absorption rate because there is a significant chance that these homes will fall out of escrow and in the current case if they did become active again it would change the absoprtion rate from 6.75 months to 14.5 months.
Current statistics for the Westside Alamo market
The average list price for the 27 active listings in Westside Alamo is $1,829,076. The highest price listing in this real estate area is $5,215,000 and the lowest is priced at $699,950. The average price per square foot for these 27 properties is $521 with the highest being at $1,070.95 and the lowest price per square foot being at $311.44. The average days on market is 146 with the longest being at 591 and the shortest at 5. The 4 pending sales werer listed at $595,000, $599,000, $869,000, and $1,299,950. The price per square foot for these homes are $419.61, $435.32, $569.46, $498.26. The days on market for these homes are 25, 75, 109, and 32.
Area comparisons
The Westside Alamo real estate market closely resembles that of Westside Danville in terms of inventory absoprtion rate, age, and community feel. The homes in Westside Alamo, however, are priced higher and sell for more than those in Westside Danville. The market does differ from the Danville market as a whole and the Greenbrook and Sycamore markets specifically in that the inventory absoprtion rate in these markets has been much more stabile. The average price per square foot is also significantly less than in Westside Alamo.
The Real Estate market in Danville has stabilized over the last several weeks
We have seen the inventory absorption fluxuate in many areas like Westside Alamo, and in the subarea of Westside Danville but the Danville real estate market has been consistent in that the inventory absorption rate has been moving between 5-7 months. The areas of Greenbrook and Sycamore
have followed more closely to the total Danville market.
There are currently 194 active properties within the Danville market. The consistency of active listings over the last several months has been unusual because in many other areas active inventory has dropped significantly. This is mainly due to the current economic conditions and homeowners who really don’t need to sell keeping their homes off of the market.
Statistics of the current Danville real estate market
The average list price for these active Danville listings is $1,381,745 with the highest price listing being at $5,400,000 and the lowest priced being at $590,000. The average price per squre foot for these listing is $429 with the highest being at $1,339.52 and the lowest at $222.77. The average days on market for these 194 active listings is 91 with the longest being at 587 and the shortest at 2. There are 29 Pending listings within the Danville Real Estate market. The average list price for these pending listings is $1,047,712 with the highest priced at $2,395,000 and the lowest priced at $599,000. The average price per square foot for these pending homes is $379 with the highest priced at $587.39 and the lowest priced at $238.15. Of these 29 pending listings, 6 are short sales. The average days on market for these pending Danville homes is 56 with the longest being at 221 and the shortest at 1.
The Westside of Danville has seen a significant change in it’s real estate market with homes now sitting for awhile
In general the Westside Danville market has been more volatile than the rest of the Danville real estate market. Much of this is due to the higher price per square foot in this area compared to that of Greenbrook and Sycamore and it has tracked more closely to the Westside Alamo market in terms of invenory absorption rates. The prices, however, are lower than those in the Westside of Alamo but higher than those in Greenbrook and Sycamore.
Current activity
There are 23 active listings within the Westside Danville real estate market. These homes range in list price from a low of $685,000 to a high of $4,500,00 with the highest price per square foot being at $818.18 and the lowest price per square foot at $331.16. The average homeprice in the active Westside Danville market is $1,631,136. The average days on market is 80 with the longest being at 236 and the shortest at 5. There are also 4 pending listings withn the Westside Danville real estate market. The prices of these pending listings are at $669,800, $1,000,000, $1,398,000, $1,549,000. The prices per square foot for these pendings listings are $326.41, $465.77, $587.39, and $391.06. The days on market for these pending listings are 7, 1, 15, 79.
The Westside Alamo Real Estate market is fluxuating wildly with available inventory dropping slightly
The absorption rate for home in the Westside of Alamo has been fluxuating between 12 and 5 months all year. The drastic swings have been caused by buyer remorse and by the tightening in the credit markets. In fact we are finding a large number of pending sales falling out of escrow. This issue causes the inventory absorption calculation to change dramatically from week to week.
Current market activity
Currently there are 26 active listings in the Westside of Alamo. these lsting have been on the market for an average of 144 days with the longest being at 584 days and the shortest being at 6 days. The average price per square foot for these listings is $527 with the lowest being at $393.67 and the highest being at $1070.95. The average price for these listings is $1,837,007 wth the highest price listing at $5,215,000 and the lowest price listing at $699,950. 
The difference between Danville and Alamo
There are slight differences between Danville and the Westside of Alamo but in general the inventory absoprtion rate is at 7 months for both areas. The area of Sycamore and greenbrook are tracking at 7 months as well with Westside Danville coming in at 10 months. The Westside Alamo area is higher priced than the Danville market as a whole.
The Danville Real Estate market has been stable over the last several months.
With an inventory absorption rate of 7 the Danville real estate market continues to remain postitive and stable in spite of the economy. There are currently 191 active listings in Danville with an average sales price of $1,384,107 or $431 per square foot. The highest priced listing is priced at $5,400,000 or $770 per square foot. The lowest price listing is priced at $599,000 or $371.59 per square foot. The average days on market for these active listings is 86 days. The longest is 362 and the shortest at 1 day. There are 32 pendings currently in the Danville market with the average price being $1,034,892 or $374 per square foot. The 
highest price pending was listed at $2,395,000 or $468.96 per square foot. The lowest price pending was listed at $599,000 or $488.98 per square foot. The average days on market for these pending listings is 55 days with the longest being at 221 and the shortest being at 1.
Danville real estate analysis
The inventory absorption rate within the Danville market has fluxuated between 5 to 7 months for the past year. We are finding that many of the pending listings are falling out of escrow just to be resold again to new buyers. The inventory level seems to be dropping and sales do seem to be picking up. The area of Westside Danville has been tracking very closely with Westside Alamo and the areas of Greenbrook and Sycamore have been tracking with the Danville market as a whole.
Over the past week or so we have seen some houses close in the Westside of Danville in addition to some new listings entering the market
The inventory absorption rate has significantly increased of late from a low of 5 months just 2 weeks ago to 15 months which is what it is today. We have also seen some fallout during escrow with buyers getting cold feet as a result of the current economic condition within the real estate market.
The current activity within the Westside Danville is as follows
There are 29 active listings. These active listings have an average sales price of $1,582,264. The highest price listing is listed at $4,500,000. The average price per square foot for these homes is $525 with the highest being at $818.18 and the lowest at $330.08. The average days on market for these homes is 75 with the longest being at 231 and the shortest at 1. There are 2 pending listings. The list price for these pending listings are $669,800 and $1,000,000. The prce per square foot for the pending homes are $326.41 and $465.77. The days on market for these homes are 7 and 1.
Closings for October
During the month of October there were 3 closed sales. The sold prices for these homes were $537,570, $745,000, and $935,000. The price per square foot for these closed sales were $360.30, $355.95, and $476.31. The days on market for these closed sales were 4, 53, and 8.
