Alameda County Homes Sold Report December 2014

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Alameda County Citywise Report for December 2014

The actual numbers show homes sold in Dec 2014 was less than Dec 2013.However, looking closely at the Sales Price/List Price % and Days on market shows that the market is very much a sellers market.Buyers were chasing less inventory and offering way over asking prices to get into contract.It took less days to sell a home as compared to Dec 2013.

Alameda County Citywise  Homes Sales

Number of homes sold was analyzed for 17 cities.  

  • 10 cities saw a drop in volume  compared to corresponding period in Dec 2013.
  • 11 cities also saw a drop in volume in Dec 2014 compared to Nov 2014.
  • On the flip side 7 cities saw an increase or equal in volume in Dec 2014 compared to Dec 2013
  • Total homes sold in Dec 2013 was 1248, Nov 2014 was 1110 and Dec 2014 was 1088.
  • Though we have seen many past months of increasing sales, Dec 2014 was definitely not the same. Since Days on Market and SP/LP% are completely reflective of a sellers market, the drop can be attributed to lack of inventory.

Alameda County SP/LP%

  • 9 out 12 cities evaluated  had sales closings over asking price in the month of Dec 2014.
  • The situation was same in Dec 2013. with 9 out of 12 cities having sales over asking.
  • The average SP/LP % ( Sales Price/List Price %) in Dec 2013 was 99.32% and average SP/LP% in Dec 2014 was 103.36%.
  • Overall: The market reflected a shortage of inventory and a sellers market with buyers overbidding to land contracts.

Alameda Citywise Days on Market ( DOM)

  • 16 out of 18 cities took equal or less time to sell, as compared to Dec 2013.
  • Albany (40) and Piedmont (36) listings sold in 50 or less days.
  • Hayward (83) and Union City (85) took 80 days or more to sell.
  • All other cities sold  between 51-79 days.
  • The average days on market  last Dec 2013 was 76 days .This moved down to 66 days in Dec 2014.

Alameda County Citywise Average Prices

  • Citywise Average sales price was analysed for 13 cities in Alameda county for last 1 year.
  • All cities saw a price increase in Dec 2014  compared to last Dec 2013.
  • However, Alameda, Castor Valley, Fremont, Newark, Oakland and Union City saw small price “cool offs”compared to previous month of Nov 2014.
  • Average price in December 2013 was $596,389. Average price in Dec 2014 was significantly higher at $708,584.Average price in November 2014 was $694,910.

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