November’s real estate market in Alameda can be characterized as a strong seller’s market. One might call it deliciously strong if you’re a seller, and perniciously strong if you’re a buyer.
Buyers in Alameda in November paid 103.6% of list for their homes, on average. The average that sold in November was listed for $675,920, and sold at $680,920. The median sale price was $678,000.
On a cost per square foot basis, homes fetched 18.4% more this year than last. Last November’s year’s average home was listed for $571,124 and sold for 105.2% of list, at $585,637.
Days on market have decreased slightly over the past year, down to 25 days on average this November from 26 days on avearge last November. Above all, expired listings and inventory have remained delightfully low. Inventory is 1.75 months, and the ratio of expireds to solds is down from last year to a razor thin 3.5% this year (contrast a whopping 48.6% in one market in Placer County, outside of Sacramento).