It’s been another good year for our real estate market with low inventory and high demand. Alamo opened 2015 with only 23 homes on the market; Walnut Creek just 30; Danville 48. With normal seasonal fluctuations, we hit highs for the year in May (Alamo – 72, Walnut Creek – 104, and Danville – 118).
Today’s inventory numbers reflect the typical seasonal pattern as they begin to decline. I expect the inventory numbers will continue to grow smaller toward a low at the end of the year. Here are the current numbers across all towns:
So how does 2015 compare to 2014? In Alamo in 2014, 111 homes were sold with an average of 14 days on market and a median sales price of $1,375,000. This year in Alamo: 105 homes were sold with an average of 13 days on market and a median sales price of $1,511,000. Prices have ticked up: last year’s average price per sq foot was $459 and this year $497.
In Danville (including Blackhawk): 445 homes were sold in the first half of the year in 2014 compared to 486 this year. Again, price per sq foot increased: from $413 in 2014 to $447 in 2015, although the median sales price dropped from $1,100,000 in 2014 to $1,033,000 in 2015. Both years have an average of only 9 days on the market.
So far, another good year for our Alamo & Danville real estate market.