Jan 12 News & Trends
Real Estate News & Market Trends
Pleasanton, Dublin, San Ramon - CA.
The Alameda & Contra Costa County MLS weekly data for Dublin, San Ramon & Pleasanton. (blue = Active; green = Pending; purple = closed)
With listings returning to the market after the holidays, we see Pleasanton and Dublin active listings have started to trend up. San Ramon continues to decline in active real estate listings.
Pending sales in Dublin and Pleasanton dropped slightly while San Ramon showed a slight increase.
Our office stats show the following for months of inventory on hand:
- Alamo 3.73
- Danville 5.45
- San Ramon 5.73
- Dublin 4.80
- Pleasanton 5.00
The closer the blue and green graph lines come together, the more active the market.
It's impossible to get an accurate figure of Days on Market (DOM) as it is a fairly common practice in the real estate industry to "freshen" (remove from the MLS and re-list) listings if they sit on the market too long.
We attended both the San Ramon Realtors Marketing Association meeting and the TriValley Marketing Association meeting this week. Both meetings were well attended with many listings being presented.
The general consensus is that the market is becoming more active as buyers move to take advantage of interest rates. Most agents feel that 2007 will be slightly up from 2006.
Real Estate News
Here is my (Brad Inman) summary of takeaways from Real Estate Connect NYC:
- The trend of declining real estate commissions will reverse this year because there are more listings and fewer Realtors and because the discounters are in trouble as consumers go back to old reliable.
- Wall St. will introduce new mortgage instruments in an attempt to keep the housing market alive.
- Woes in the sub-prime mortgage market will hurt liquidity for EZ home loans and will create a minor real estate scandal mid-year.
Countrywide Financial Corp. reported its December and the good news for those looking for evidence that the housing market is picking up was that loan applications were up 11 percent from the same month a year ago.
After bottoming in the fourth quarter of 2006, existing-home sales are forecast to gradually rise through 2007 and into 2008, while new-home sales should turnaround by summer, according to the latest forecast by the National Association of Realtors.
Rates on 30-year mortgages rose this week to the highest level since mid-November after a better-than-expected employment report renewed inflation worries in financial markets.
The Harper Team monitors over 50 Real Estate and News Feeds daily to bring you information pertinent to the San Ramon Valley & TriValley real estate market including the communities of Danville, San Ramon, Dublin and Pleasanton. We welcome suggestions.
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Pat Kitano is the author of 
John Harper is an active real estate agent with Keller Williams Realty in Danville, CA. He is a key member of 
