RE/MAX Accord's Market Report
Alamo, CA
Single-Family Homes
RE/MAX Accord | Outstanding Agents! Outstanding Results!
Alamo, CA
Thu Apr 18 2024
This week the median list price for Alamo, CA is $3,400,000 with the market action index hovering around 45. This is less than last month's market action index of 52. Inventory has increased to 24.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $3,400,000 | |
| Median Price of New Listings | $2,850,000 | |
| Per Square Foot | $819 | |
| Average Days on Market | 50 | |
| Median Days on Market | 32 | |
| Price Decreased | 25% | |
| Price Increased | 0% | |
| Relisted | 8% | |
| Inventory | 24 | |
| Median Rent | ||
| Market Action | 45 | |
| Strong Seller's Market | ||
This is a market where watching the value metrics (like price per square foot) can provide insight that you don’t get at first glance. Despite the fact that home prices are rising fairly consistently, the price per square foot of homes listed is declining. Often this can be attributed to new and remodeled homes on the market. Buyers in the area are paying more but also getting more for their money.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $5,547,500 | 6,712 | 5 - 10 acres | 6 | 7.5 | 20 | 0 | 0 | 31 |
| $4,274,500 | 5,215 | 0.5 - 1 acre | 5 | 5 | 32 | 2 | 0 | 35 |
| $3,025,000 | 3,698 | 0.5 - 1 acre | 4 | 4 | 46 | 2 | 0 | 21 |
| $2,518,400 | 3,028 | 0.25 - 0.5 acre | 4 | 4 | 41 | 3 | 0 | 49 |