San Leandro CA Real Estate Market Report January 2011: Seller's Market

San Leandro CA Real Estate Market Report January 2011: Seller's Market

One of my favorite neighborhoods in San Leandro CA is Estudillo Estates. It’s a beautiful neighborhood of about 1200 homes. The people who live there have their own association and newsletter, dedicated to preserving the neighborhood’s charming character. Many of the homes are Tudor and Mediterranean style, developed by the same people who developed the sought-after Fernside District in Alameda CA.

San Leandro has many other nice communities....but like the rest of the country, it has its share of real estate woes. Following are charts for detached single familyhomes over a two-year period of time.

Median List and Sold Price

Since December 2009, the median list price steadily declined by 14%, and the median sold price by 25%

Sold properties

And like its neighboring cities. San Leandro also saw its share of foreclosed homes. The percent of bank-owned sales (stripes on the chart) varies from month to month, but hovers around 50% of total sales.

Months Inventory

This chart was rather surprising. December 2010 had the highest month’s inventory: 6 months. A year later, it’s back to where it was in December 2009 at less than 3 months which could be characterized as a seller’s market defined by InvestorWords.com as “A market which has more buyers than sellers. High prices result from this excess of demand over supply.”

The blue line represents average days on market.

Related January Market Reports in Alameda County, CA

• Is your buyer thinking of buying a short sale? What your buyer needs to know.
• How to write a good (or bad) offer on an REO (bank-owned) property
• Hayward CA housing market: boom to bust. Over 60% of sales in 2011 were bank-owned.
• BERKELEY CA Real Estate Sales 2011 over 2010: Looking for foreclosures? Very low inventory!
• Oakland CA Homes for Sale January 2012: 55% are short sales and bank-owned
• Oakland CA top 5 real estate stories in 2011 including surge in sales and prices
• Oakland CA 2011: Short Sales and Bank-Owned Properties are 54% of total sales
• Top 5 real estate stories in 2011 nationally and in Alameda CA
• Alameda CA Short sales and Foreclosures: Year End Report 2011 compared to 2010

San Leandro CA Real Estate Market Report January 2011: Seller's Market