February Real Estate Update

Rising prices are curtailing investment activity as the California housing market recovery continues. That’s proving especially true in expensive Bay Area markets.

As for Alamo, the median sale price was up year over year by 7%, going from $510,000 to $545,500.
Sold properties were up year over year by 8% from 72 to 78.
Properties under contract increased year over year by 4%, going from 75 to 78.
New properties were also down year over year by 9%, from 82 to 75.
For sale properties has not changed year over year from 178 to 178.
Expired properties significantly went up by 42% from 12 to 17.
The average days on the market increased at 8%, going from 22 to 23.