Alameda California
Alameda, CA, located on an island adjacent to Oakland in the San Francisco Bay, offers a unique blend of old-world charm and modern conveniences, making it a desirable place for many residents. Here's a description of living in Alameda:
Quaint and Historical: Alameda's streets are lined with Victorian homes and historical buildings, reflecting its rich past. The town’s architecture creates a nostalgic ambiance reminiscent of a bygone era.
Beachside Living: With multiple beaches, including the popular Crown Memorial State Beach, Alameda provides opportunities for various waterfront activities such as kite surfing, paddleboarding, and picnicking.
Family-Friendly: Alameda boasts strong schools, numerous parks, and a low crime rate, establishing it as a family-centric community.
Vibrant Downtown: Park Street and Webster Street are the main thoroughfares, teeming with local boutiques, eateries, antique shops, and a historic cinema. They host events and farmers' markets, creating a bustling atmosphere.
Cultural Scene: Alameda is home to several museums, including the USS Hornet Sea, Air & Space Museum. Art fairs, studio tours, and theatre productions contribute to a vibrant cultural life.
Easy Commute: Despite its island setting, Alameda has efficient transportation options. Ferries and AC Transit connect residents to San Francisco, Oakland, and other parts of the Bay Area.
Eclectic Food Scene: From classic diners to gourmet restaurants, Alameda offers a diverse culinary landscape, including various international cuisines.
Active Lifestyle: Whether it's cycling down the Alameda Shoreline Trail or participating in community sports, the town promotes an active lifestyle.
Community Spirit: Alameda is known for its tight-knit community. Numerous events, such as the annual Fourth of July Parade and Art & Wine Faire, bring residents together and foster community spirit.
Living in Alameda offers a blend of a laid-back island atmosphere coupled with urban amenities, making it both a peaceful and stimulating place to call home.
What is Your Home Worth?
The market has started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Market Action Index (MAI)
Answers the question It’s an indicator of supply and demand and overall market competitiveness; i.e. whether it’s a buyer’s or seller’s market, or if the market is heating up or cooling off. “How’s the market?” by comparing the current rate of sales versus inventory plus additional demand metrics.
- A MAI of around 30 indicates a balanced market, with just enough supply to meet demand.
- A MAI in the low 20s or below is a buyer’s market, with more supply than demand and prices declining in the future.
- A MAI of 35 or more points to a seller’s market, with demand outpacing supply and prices starting to rise.
- A MAI of 45 or more is a strong seller’s market. inventory is very tight, demand is high, and prices are likely climbing.
Median Price Vs. New Listings Median Price
Median Prices Explained
Median List Price is the median price of homes for sale in the market. It is the most useful, accurate measure of the current market. If you see that the market’s Median List Price is climbing today, you’ll see sales prices and home values in that market climbing in the future. You can look at Median List Price as a barometer of sellers’ current confidence levels, as current individual pricing decisions are based on recent pending and closed transactions.
New Listings median Price
When I price a listing, I have the knowledge of all the recent activity nearby. I know if the house down the street got multiple offers in the first week, and I price the home accordingly
Inventory Explained
Inventory tells you how many homes are for sale in each market. Watch the inventory count for early indicators that sellers are returning to the market, and how fast. Inventory typically peaks in late June, with a trough in the second week of January. Rising inventory typically favors buyers, while tightening inventory favors sellers.
The inventory chart shows both 7 day and 90 day trends.
Inventory
Average Days on Market Vs. Median Days on Market
Days on Market Explained
Days on Market (DOM) is a measure of market velocity – how long it takes homes to sell. A non-seasonal increase in DOM could indicate some softness in the market; a drop in DOM points to a market that’s heating up.
DOM typically starts falling at the end of March during the peak buying season of April through June, then starts to climb in the second half of the year. However, this seasonal trend can vary depending on the market and the unique seasonal attributes of the area
Look at a couple of years of your market’s data to determine what’s “normal” for your area in each month
Percent Increased and Decreased Price Explained
$ Price Decrease
The percent of active listings that have received a price decrease is a measure of demand. In a normal market, we tend to see about 30-35% of sellers initially over-price their homes and eventually reduce the price to attract buyers. Below 30% signals solid demand at prevailing prices, while 40% or more generally indicates reduced demand
price decreases happen more in the fall when it’s time to move the listings before the holidays
$ Price Increase
Price increases, on the other hand, are usually under 5%. When you see price increases climbing, it’s often a sign of investor activity in a market, iBuyers and flips – or simply very high demand. This is a bullish signal for future sales prices and home values.
Increased Price Percent Vs. Decreased Price Percent
Relisted Percent
Relisted Inventory Explained
Percent Relisted points to deals falling through or listings expiring – the percent of homes on the market which we’ve seen listed, withdrawn and relisted
In a normal market, we typically see Percent Relisted under 10%, and in hot markets it’s just a couple percent. Contracts are much less likely to fall through or listings to be withdrawn when the buyers are most active.
Keep an eye on this stat as you're making decisions about buying or selling. As Percent Relisted increases, it tells us that weakening competition is creating opportunity for buyers. If Percent Relisted climbs dramatically, as it did in the summer of 2006, this can be an early signal of a coming market correction. Also remember to run this number for different price segments, as the market for higher-priced homes may behave differently.
| Segment | Median Price | Beds | Baths | Average Sqft | Price/Sqft | Age | DOM |
|---|---|---|---|---|---|---|---|
| Top 25% | $1,947,115 | 5 | 4 | 3,229 | $649 | 104 | 16 |
| Upper 25% | $1,411,808 | 3 | 3 | 2,083 | $727 | 71 | 13 |
| Lower 25% | $1,044,308 | 3 | 2 | 1,431 | $776 | 91 | 17 |
| Bottom 25% | $814,223 | 2 | 1 | 1,134 | $782 | 92 | 67 |