Market shift in Real estate sales for Westside Alamo
The Real Estate market in Westside Alamo has shifted from one where you only had to put a sign in the yard and stand back to receive multiple offers to one where homes are sitting for a long period of time and suffering price reductions. That is not to say the it is a bad market, but it is different. The homes priced over $1,200,000 are sitting for 3-6+ months where those homes priced under $1,200,00 seem to be moving much faster. The reasons for the shift are many but there seem to be a couple of variables that are affecting things. 1: The price per sq. ft is very high in relation to nearby areas like Walnut Creek and homes on the east side of the freeway. 2. People are really concerened about paying alot for a home and having to then drop another $200,000-$300,000 in order to have it fit their needs. However, If you are looking to buy a home in the Westside of Alamo and are expecting to low ball you may have a long wait. Unlike the Windemere area where there are many distress sales, the sellers in the Westside of Alamo are not desparate and are willing to wait for the right offer. So while the Westside Alamo Real Estate market has slowed it is not dead and in fact has held prices pretty well relative to neighboring communities.
Market shift in Real estate sales for Westside Danville
The Real Estate market in Westside Danville has shifted from one where you only had to put a sign in the yard and stand back to receive multiple offers to one where homes are sitting for a long period of time and suffering price reductions. That is not to say the it is a bad market, but it is different. The homes priced over $1,050,000 are sitting for 3-6+ months where those homes priced under $1,050,00 seem to be moving much faster. The reasons for the shift are many but there seem to be a couple of variables that are affecting things. 1: The price per sq. ft is very high in relation to nearby areas like Greenbrook and Sycamore. 2. People are really concerened about paying alot for a home and having to then drop another $200,000-$300,000 in order to have it fit their needs. However, If you are looking to buy a home in the Westside of Danville and are expecting to low ball you may have a long wait. Unlike the Windemere area where there are many distress sales, the sellers in the Westside of Danville are not desparate and are willing to wait for the right offer. So while the Westside Danville Real Estate market has slowed it is not dead and in fact has held prices pretty well relative to neighboring communities.
The Westside Danville Real estate market
The Westside Danville Real Estate and home sales market has been relatively stable of the past several years after a huge surge in pricing during the preceding years. In general homes are taking much longer to sell than in previous years but are more in line with what is considered a “Normal” market. In the Westside of Danville, the location west of the 680 freeway and north of the Danville ranch area, the sale of higher priced homes has slowed dramatically. However, those homes which are aggressively priced and are less than $1,050,000 sell within just a few weeks. Prices have dropped in the area but not significantly. The recommended course of action for homes in the westside Danville is to price aggressively from the start but be prepared to wait 3-6 months.
Sycamore Real Estate
In the areas of Sycamore and Greenbrook (including Danville Station and Shadow Hills) we have seen some reduction in price but like Westside Danville not significant. Because the homes are still relatively close to downtown, these homes are still in demand. Additionally they demand a lower price point. So strategy for selling these homes is to again price aggressively and be prepared to wait 2-4 months. This does not mean that homes won’t sell quickly in this area because on occasion they do, sometimes with multiple offers, but the average days on market indicate some waiting period.
Real Estate in East Danville CA
The home which have suffered the most severe price reductions are in east Danville specifically the areas of Bettencourt Ranch and Shadow Creek. These homes tend to take up to a year to sell and have seen a 20% or greater reduction in value over the past 2 years. Unless there is a strong need to sell, I recommend holding or leasing these homes. If you do need to sell be prepared for a long wait and a significant reduction in price. However, all is not lost in these areas. A home that has been well maintained, is updated with new lighting fixtures, bathroom fixture, flooring and new kitchen and Master bath will demand a higher price and most certainly will sell faster.
Real Estate in the Balckhawk area of Danville CA
The Blackhawk area is a mixed bag with the smaller tract style home now selling for under $900K. Some of the reduction in price is due to the REO and Short Sales in the area. The higher end home market in Blackhawk (greater than $2,000,000) have seen some slow down but not a significant reduction in price The keys to selling in this area is to insure that the home is immaculate, price aggressively, and be creative with your marketing so that you target the proper demographic for the high end home market.
