This was a busy week for new listings in Alamo; I saw 8 new properties on Tour on Thursday. Inventory remains low at 34 today, which is about half of what we typically have on the market at this time of year.

However, it’s not as dramatically low as some of the neighboring areas: there are more homes for sale in Alamo than in San Ramon. That seems amazing considering that San Ramon is so much larger, with its two zip codes, sprawling all the way out to Windemere. I consulted Google and the 2010 census tells me that while Alamo is 9.6 square miles, San Ramon has nearly double that space at 18.7. Even more significant is the density—most of the homes in Alamo sit on ½ acre lots with 1500 people per sq mile; whereas in San Ramon, there are 4000 people per sq mile. Population: Alamo 14,570 vs San Ramon 72,148.

The logical explanation for the difference in inventory is the difference in price point. Alamo is more expensive: the median priced home is $1.5 vs $739,000 in San Ramon. Inventory is low across the board because the buyers have been active—and the low numbers in the more affordable towns speak to the point that there are more buyers at the lower end of the market.

But the buyers are certainly out across price points, and low inventories in Orinda, Lafayette, and Alamo point to that.

Today’s inventory numbers, as compared to how the year opened are as follows:

• Alamo – 34 (up 9)
• Danville – 52 (up 8)
• Blackhawk – 26 (down 1)
• San Ramon – 29 (up 6)
• Dublin – 22 (down 4)
• Pleasanton – 38 (up 9)
• Lafayette – 20 (up 5)
• Orinda – 17 (up 2)
• Pleasant Hill – 18 (up 7)
• Walnut Creek – 48 (up 5)
• Rossmoor – 18 (down 3)
• Antioch – 86 (up 30)