Real Estate Inventory—Buyers are Active

Does it seem as though some homes are coming on the market and selling right away? 

Many are.

In fact, in Alamo, 18 homes have gone pending or sold so far this year, and 12 of those were on the market for less than 30 days. 

In Danville, there have been 122 homes that have gone pending or sold this year, and 58 of them were on the market for less than 30 days and 80 were on the market for less than 60 days. 

In Blackhawk, there were 19 homes that have sold or gone pending this year, but only eight of them were on the market 30 days or less.

There are a lot of buyers right now that have been looking for a long time. 

I have a new listing in Alamo that was on the market three years ago. 

I ran a "coming soon" ad for the house, and received a call from a buyer who said he remembered seeing it “when it was on last year.” I said, well … that was in 2007.  Sure enough, time flies when you’re seeking your dream house, and he confessed that they had been looking about that long.

Buyers have been watching, and waiting, and now the fear of rising interest rates is making them alert. When the right house comes on the market, they know it when they see it. 

My “coming soon” that the buyer called about was on Broker’s Tour Thursday—a beautiful and unique home that had dozens of realtors preview it, excited to return with their buyers. See the virtual tour.

As of Friday, inventory in Alamo is 79 homes on the market. Of those, 18 are priced under $1,000,000; 43 are between $1 million and $2 million; 12 are between $2 million and $3 million; and six are over $3 million. Of thoes, 22 homes have been on the market for less than 30 days, and 42 of the homes have been on the market for more than 100 days.

In Blackhawk, there are 39 homes on the market. Of those, eight are priced under $1,000,000; 16 between $1 million and $2 million; seven between $2 million and $3 million; and eight over $3 million. Among those, 12 have been on the market for less than 30 days, and 20 of the homes have been on the market for more than 100 days.

In the rest of Danville, there are 181 homes active on the market. Of those, 117 are priced under $1,000,000; 48 are between $1 million and $2 million; 12 are between $2 million and $3 million; and there are four over $3 million. Among those, 92 have been on the market for less than 30 days, and 45 of the homes have been on the market for more than 100 days.

There's lots of new inventory—but so far the interested buyers are keeping the market moving.