For the statisticians and other folks who prefer graphs to see what's going on a specific market, here's a snapshot of what it looks like in Walnut Creek CA, comparing the market activity the past two years, starting in October 2007 - October 2009.
MONTHS SUPPLY OF INVENTORY When there are more buyers than there are sellers, it means that it's a seller's market. The higher the months inventory, the more it becomes a seller's market. Traditionally, if the the months inventory is more than six months, it's a buyer's market, and vice versa.
In Walnut Creek the months' inventory was 8.2 months in October 2007, and 2.2 in October 2009 --- 73% decrease.
UNDER CONTRACT
MEDIAN PRICE The median price was the lowest in February 2009 and bounced back in April. Nonetheless, the general trend seems to be downwards. October 2009's median price is the next lowest point. Sellers may have to adjust their expectations depending on current market values.
SUPPLY AND DEMAND Here's a good way to correlate number of properties sold (demand) with number of properties for sale (supply). .
DAYS ON MARKET So, how long do the Walnut Creek properties stay on the market before they have accepted offers? With the exception of February 2008 where the average days on market peaked to nearly 100 days, the average days on market is steady at between 60-70 days. 
So...what are these graphs telling you?
Berkeley real estate market is nearly unchanged when compared with the frenetic activity in the surrounding cities.
For the statisticians and other folks who prefer graphs to see what's going on a specific market, here's a snapshot of what it looks like in Berkeley CA, comparing the market the past two years, starting in October 2007 - October 2009.
People will see different things and interpret this information in different ways --- I guess it depends on what you want to see or what you hope will happen.
in the meantime, here's what the data is SHOWING us.
MONTHS SUPPLY OF INVENTORY I like starting with the months supply of inventory. When there are more buyers than there are sellers, it means that it's a seller's market. The higher the months inventory, the more it becomes a seller's market. Traditonally, if the the months inventory is more than six months, it's a buyer's market, and vice versa.
In Berkeley the months' inventory was 2.6 in October 2007, and 1.6 in October 2009. This difference is almost insignificant --- but it is an amazing picture to show the movement in the Berkeley market. The inventory levels mirrors the activity in other cities in the East Bay.
UNDER CONTRACT Homes under contract peaked in
Fewest contracts were recorded in January 2008.That would have been a time when a buyer would have had more negotiating power.
MEDIAN PRICE The median price was the lowest in March 2009 and bounced back in April. Prices increased again. Although not at the peak recorded in June 2008 when median price was a $640K, October 2009's median price is close enough at $696K
SUPPLY AND DEMAND Here's a good way to correlate number of properties sold (demand) with number of properties for sale (supply). This chart shows almost no change. Demand is nearly flat.
DAYS ON MARKET So, how long do the Berkeley properties stay on the market before they have accepted offers? With the exception of December 2008 where the average daays on market peaked to over 90 days, the average days on market is steady at between 30-40 days.
Good for the sellers and their agents! While buyers and their agents are on notice that they should be fleet of foot when searching for property and when strategizing on their offers.
So...what are these graphs telling you?
Received the text this afternoon.
Scrambled to find news articles. The best one I found was on Bloomberg. Headline: "Senate approves extended U.S. homebuyer tax credit"
Posted on Facebook.
Networked at a Chamber mixer. Shared news with other folks who haven't heard about it (yet).
Sent them link to Bloomberg news so that they, in turn, can spread the word.
Extension not passed yet...but with a Senate vote of 98-0 for it, it's almost a certainty that the House will follow suit. Then on for Obama's signature.
Scrambling to find details about this from other news sources.
Checked National Association of Realtors...not there yet?
In the meantime....this list is enough. Time to inform my buyers. There is hope!
How you see it is the same as how you look at a glass --- half-full, or half-empty?
No man is an island. Yes, we get it. And even in our slice of paradise known as the wondrous island of Alameda, CA, we have our share of distressed properties.This is actual data. Analysts have different ways of looking at the same figures and extrapolating different conclusions.
So let's take a look at what it's like for 2009, as of today, November 3, 2009.
COMPARING SOLD PROPERTIES
Sold since January 1, 2009 - 362 homes
FORECLOSURES
Sold - 47 homes
Pending - 10 homes
Active - 7 homes
SHORT SALES --- if both buyers and sellers are willing to stick it out, there are some good deals to be found.
Sold - 26. Yes, folks. We do and have closed short sales.
Pending (pending, pending to subject lender approval) 25 homes.
Active - 13 homes
WHERE IS ALAMEDA REAL ESTATE MARKET HEADED?
So....where is the Alameda market headed? Take a look at this post: Alameda CA; Where is the market headed to get a picture of what it was like for the last two years starting in October 2007-October 2009.
For the statisticians and other folks who prefer graphs to see what's going on a specific market, here's a snapshot of what it looks like in San Ramon, comparing the market the past two years, starting in October 2007 - October 2009.
People will see different things and interpret this information in different ways --- I guess it depends on what you want to see or what you hope will happen. Some market observers have said the bottom was four months ago. Some say the worst is yet to come (when?).
in the meantime, here's what the data is SHOWING us.
MONTHS SUPPLY OF INVENTORY I like starting with the months supply of inventory. When there are more buyers than there are sellers, it means that it's a seller's market. The higher the months inventory, the more it becomes a seller's market. Traditonally, if the the months inventory is more than six months, it's a buyer's market, and vice versa. This shows quite drop, and seems to be on a continuous downtrend.
UNDER CONTRACT Homes under contract peaked in September 2009 (height of selling season?) and dropped in October.
MEDIAN PRICE it appears the median price is recovering because the median price is only 8% below where it was two years ago. The lowest median prices were posted in January 2009, and made a comeback the next month!
SUPPLY AND DEMAND Here'sgood way to correlate number of properties sold (demand) with number of properties for sale (supply). Supply is on the downward trend, or 38% less than where it was this time in 2007. While demand increased by 55%.
So...what are these graphs telling you?
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