The real estate market in Westside Alamo has been very unstabile over the last several months
While home prices are not dropping, inventory levels are fluxating from week to week. During the month of Novermber there were no closed sales in this market. There is only one pending sale. This is a short sale and was listed at $595,000 or $419.61 per square foot. This pending listing was on the market for 25 days. There are 24 active listings currently on the market. The average price for these active listings is $1,831,690 or $523 per square foot. The highest price active listing is priced at $5,215,000 and the lowest price listing is priced at $699,950. The highest price per square foot for these listings is $1070.95 and the lowest price per square foot is $311.44. The average days on market for these listings is 158 days with the longest being 605 days with the shortest being 12 days.
Westside Alamo market analysis
The inventory absorption rate is currenly at 24 months which is far greater than it was in October which saw levels at 6-8 months. The reasons for this are varied but we are finding that many buyers have decided that homes are not upgraded enough for the price being asked. In addition the sellers are not desparate to sell and are holding the line on prices. This market closley resembles that of Westside Danville. Many buyers who have considered Westside Alamo have decided to look in Danville and more specifically Greenbrook and Sycamore
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