Danville – San Ramon Housing Inventory Continues to Drop

 Short Sales, Foreclosures & Low Inventory Affect
Danville & San Ramon Real Estate Markets

San Ramon Danville housing inventoryMonths of Inventory at year’s end is low again in Danville, San Ramon and most East Bay communities (2.02 Months of Inventory compared to Nov. 30, 2011 with 2.12).

  • Dec. 31, 2010 was 3.55
  • 2009  = 1.91
  • 2008 = 4.27
  • 2007 = 13.77
  • 2006 = 7.37

Active listings compared to the previous month were down 18% and pending sales back 30 days down 14%.  This is expected for the slowest month of the year.  Seventeen of the twenty seven communities measured had a decrease in Months of Inventory compared to Nov. 30, 2011.

Short Sales and Foreclosures are affecting our local real estate markets – we don’t have a “normal” housing market.

Inventory of homes for sale in most communities is low. With a shortage of inventory this should be a strong seller’s market, but it isn’t.  The National Association of Realtors estimates there is 9.0 Months of Inventory on average across the nation and for all of California there is approximately 6.0.  We will see new listings coming on the market as we approach the peak selling season that starts in March.

 Months of Inventory measures the relationship between supply and demand.  It gives a snapshot of where the market is and what activity is happening as of now going back thirty days of Pending Sales.  Pending Sales are much more meaningful compared to Sold properties as they measures what is currently happening as of today and back 30 days.  Sold properties reflect market activity from 30 to 60 days or more ago so the information is less valuable in measuring current market activity.  

Months of Inventory is figured by dividing Pending Sales back 30 days only into total Active Listings. Example: Danville 43 pending sales back 30 days divided into 114 total active listings = 2.65 Months of Inventory.

Months of Inventory     12/31/2011
Community
Active
Pending
Mos. Inventory
Danville 114 43 2.65
Alamo 61 12 5.08
Walnut Creek 115 55 2.09
San Ramon 116 69 1.68
       
Dublin  83 58 1.43
Pleasanton 91 48 1.90
Livermore 159 89 1.79
       
Blackhawk 26 7 3.71
Diablo 5 1 6.00
       
Concord  212 119 1.78
Pleasant Hill 42 31 1.35
Martinez 94 55 1.71
Clayton 27 16 1.69
Rossmoor 102 35 2.91
       
Lafayette  37 7 5.29
Orinda 22 8 2.75
Moraga 12 8 1.50
       
Pittsburg 94 81 1.16
Antioch 190 159 1.19
Brentwood 154 93 1.66
Oakley 85 44 1.93
       
Castro Valley 91 35 2.60
Fremont 264 150 1.76
Hayward 280 147 1.90
San Leandro 190 73 2.60
San Lorenzo 47 29 1.62
Oakland 766 245 3.13
       
Average
129
64
2.02

 

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Email Craig if you would like to know more about buying or selling a home or condo in Alamo, Danville, Dublin, Pleasanton, San Ramon & Walnut Creek California call (925) 984-4910

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