The real estate market in Westside Alamo has been fluxuating widely and seen the inventory absorption rate change in one week from 20 months to 6 months.
The instability of this market has been caused by the low inventory rates and the impact that only 1 or 2 pendings has on the calculation. There currently are 19 active listings within this market with 3 pendings. The average price for the active listings is at $1,964,504 with the highest listing being priced at $5,215,00 and the lowest at $699,000. The average price per square foot $539 with the highest being at $1,070.95 and the lowest at $347.71. The average days on market is 177 days with the high being at 619 days and the shortest at 26 days.
This market has closely resembled that of Westside Danville 
until this past week.
As I mentioned earlier, the inventory absorption rate for this market will swing widely due to the smaller sample size. The fact that in one week we have seen the metric move from 21 months to 6 month with only 3 pendings indicate the sensitivity. In general we expect inventory to drop over the next one to two month and them begin picking up in the second half of 2009.
