East Bay Real Estate Market January 2009
The State of Real Estate in East Bay Communities
January 2009 – Average inventory is down 7% to 4.27 compared to 4.59 in November.
Since June, the start of the foreclosures and short sales transaction boom that accounted for up to 40% of the overall sales the average numbers has been fairly steady, under 5.0 months inventory. The highest in 2008 was January at 10.33 months. The highest in 2007 was September at 14.40 months.
During normal times 4.27 months of inventory would be a seller's market, but with this unusual foreclosure market, the normal bench marks no longer apply. Once the market stabilizes with most of the foreclosures and short sales behind us the months of inventory figures will again have meaning to compare with past normal markets.
A balanced market in normal times is around 5.0 months. NAR considers 6.0 months a balanced market.
Months of Inventory in East Bay Communities

Percentage of Homes Sold with Price Reductions

San Francisco Bay Area Foreclosure Activity
As you can see from the graphs below, foreclosure activity has resumed. We noted in November 2007 the drop in California foreclosures was an illusion, caused by the implementation of CA State Senate Bill 1137.

Our FREE In-Depth Market reports are available for most communities in Contra Costa & Alameda counties- updated weekly, breaking data down by zip code and price point.
Contact Paul for more information 925-963-4246