The market for resale homes in Alamo continues to be consistent albeit a little slower than the surrounding communities.
There are 117 active listings for detached single family homes in Alamo in addition to 26 Pending sales. This gives us an inventory absorption rate of approximately 4.5 months. The Alamo market is somewhat similiar to that of Danville in that the homes at the low end are selling while mid point homes sit. Interestingly enough, we are seeing the homes at the highest price points sell quicker than those priced between $1,000,000 and $1,200,000. Comparatively speaking, we see the market in San Ramon as being a somewhat overheated at the lower price point and in fact has an overall inventory absorption rate of 3 weeks. The reasons are many and varied but in general the buying public , now more than ever, is looking for value on a price per square footage basis. The homes in Alamo and Danville are more expensive than those in San Ramon. In fact it is not uncommon to find nearly new 4000 sq. ft. home for under $1,000,000 in San Ramon where the same home in Alamo could be as much as $2,000,000.
Current Alamo Statistics:
The average list price for the 117 active single family detached homes in Alamo is $2,074,959 with the highest priced listing priced at $38,000,000 and the lowest at $655,000. The average price per square foot is at $499 and the average days on market at 130 days. The average list price for the 26 pending sales is $1,558,163 with the highest priced pending at $2,345,000 and the lowest priced at $694,900. The average price per square foot is at $394 and the average days on market at 102 days.
Pending Alamo Sale
