Analyzing the Inventory — Danville & Alamo Real Estate

You may know that the house three doors down just sold for $950,000 and didn’t have the gorgeous updated kitchen that you have. No question that’s an important comparison for the potential sale of your home, but the reality is buyers will be shopping for a home comparing your house with what else is available.

Here’s a snapshot of the current inventory.

Alamo

101 active listings

• Nine with price changes in the last week
• Three are contingent sales
• Three are “back on market” (typically a buyer had a change of heart, or financing issue)
• 13 are two weeks or newer to the market
• 33 have been on the market for more than 100 days (and of those, 12 for more than 200 days, and seven for more than 300 days).

The prices break down as follows:

• 23 under a million (all but 4 are single family)
• 38 are between $1 million and $1.5 million
• 24 are between $1.5 and $2 million
• Nine are over $2 million but under $3 million
• Three are $3.3, $3.5 and $3.85 million
• One is $4.850 million
• And one amazing property is for sale for $11.8 million (westside location, with over 10,000 square feet, with 10 acres of land)

The median price in Alamo today is $1,350,000 and the median price per square foot is $384.

Blackhawk

42 active listings

• Five with recent price changes
• One contingent sale
• One “back on the market”
• Seven are two weeks or newer to the market
• 19 have been on the market for 100 days or longer (and of those, six have been on for over 200 days, including one for 460+ days and another for 780+ days)

The prices break down as follows:

• 13 under a million
• Nine are between $1 million and $1.5 million
• Nine are between $1.5 and $2 million
• Five are over $2 million but under $3 million
• Two are $3.45 and $3.595 million
• One is $4.5 million
• Two are priced at $5,498,000
• And one new home (built in 2011, pictured at right) is for sale for $10.5 million (16,500 square feet, on one acre)

The median price in Blackhawk is $1,497,000 and the median price per square foot is $352.

Danville (including Diablo)

There are 211 active listings on the market

• 18 have had a new price in the last week
• Two are “back on market”
• Two are contingent sales
• 37 are new to the market in the past two weeks
• 65 have been on the market for over 100 days (and of those, 15 for longer than 200 days including four for more than a year)

The prices break down as follows:

• 23 are under $500,000
• 121 are between $500,000 and $1 million
• 44 are between $1 million and $1.5 million
• Seven are between $1.5 and $2 million
• Nine are over $2 million but under $3 million
• Four are between $3 and $4 million
• One is $4.2 million (Diablo)
• One is $5.498 million (Diablo)
• One is $6.15 million (Diablo)

The median price in Danville is $829,000 and the median price per square foot is $327.

With this in mind, the price ranges with heavy inventory represent more intense competition. Homes that are priced well and show great will sell in any market and against any competition — but knowing your competition is key in pricing your home.