A Quick Market Update for the Alamo/Danville Area

It is a buyer’s market in the Alamo/Danville area, but as a buyer, you still need to be patient and be smart when you buy.  

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Today I am joined by my father Terry McDaniel to share the latest news from our Alamo/Danville market. Right now, the numbers tell us it is a great time to buy.   

In Alamo, there are 38 homes available for sale, and the median asking price for these homes is $2.15 million. There are also 27 pending properties, which is almost ideal because you usually want to see a 1:1 ratio between available properties and pending properties. The median price of these pending homes is $1.7 million. 

These stats indicate that the lower part of the market is the most active, while the upper part is starting to see homes with price adjustments of $50,000, $75,000, and even $100,000. This kind of thing is typical when interest rates are rising, so be patient and be smart when you buy. 

Remember—you only make money when you buy; you don’t make money when you sell. There are a number of properties that have not hit the market yet, and prices are not rising at the crazy rate that they previously were. If you are a buyer, these facts should help you during your negotiations with sellers 

In Alamo, there are about 5,500 homes in total. In Danville, there are about twice as many. To find the home that is right for you, it is very important that you calibrate for each price range and move in $250,000 increments. 

Make sure you pick the very best property you can buy.

Also, make sure you plot out the houses. The west side of Alamo, for instance, is going to be more expensive as far as lots go. The lot values in that area are between $1.3 million and $1.5 million, which is an increase compared to when they were worth between $900,000 and $1.2 million four years ago. Can they continue to go up in value? Absolutely. Will they continue to go up in value? Absolutely. Home values can rise and fall, but in 10 to 20 years, you will be glad you bought a property now. A leveraged asset in residential real estate is a great way to accommodate your family’s future. There are many ways to buy property, so don’t assume you can’t afford it. If you talk to us, we can make it happen for you. If you are interested in discussing the market further with my father or you would like to know the value of your home, you can reach him by phone at (925) 838-4300. As always, if you have any other questions for me or you have any real estate needs at all, please feel free to reach out to me. I would love to help you.

A Quick Market Snapshot for April 2018

Here is a quick update on what’s going on in the Danville housing market. 

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I’m coming to you today with a short educational video about what’s going on in the Danville market this spring.

Currently, our median sales price is $1.25 million. In the last year, our values have come up by $80,000, or 7%, on each of our home values. That is not a sustainable increase; 4% to 5% is pretty normal, but 7% is a pretty good jump.

If you’re thinking about cashing out, this is the opportunity to do it.

Our market right now is a seller’s market, so if you’re thinking about selling or would like to find out about home values in the area, please feel free to contact me. Let us help you find your home’s value. If you’re thinking about cashing out, this is the opportunity to do it. I look forward to hearing from you.

The Bay Area Real Estate Market Is Starting to Shift

Market conditions in the Bay Area are a little crazy right now. Today, I’ll check in on how Walnut Creek, Alamo, and Danville are doing. 

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It’s time for your August 2017 real estate market update!

First, I have an exciting giveaway to announce. If you send me a video topic that we have not done in the past, you get a chance to win one of four speakers. These shiny mobile speakers pair up with your phone so you can take them anywhere.

Just give me a topic and claim your new speaker at our office!

Now, back to your market update.

The market is a little bit crazy right now and has shifted significantly over the last couple of months. Let’s see what’s happening in Walnut Creek, Alamo, and Danville:

Walnut Creek’s market has a 99% health score, which is great news. There are 170 homes on the market, the median price point is $692,000, and homes spend an average of 46 days on market before selling. That leaves us with 1.4 months of inventory, which means homes are flying off the market.

That median sales price has dropped 6% over the last 30 days. The days on market increased 4.5% and listings are up 7% with 156 new listings on the market. There were 55 price reductions in our market, which is 11.3% of the market.

So, prices are starting to come down and inventory is starting to go up in Walnut Creek, which is actually good news.

In Alamo, the marketplace health score is 77%, which is still fairly healthy. There are 67 homes on market. The median price point is $2.95 million—that number is skewed a little thanks to a $36 million home that’s sitting on the market. Still, prices are on the rise.

The market has shifted significantly over the past couple months.

Alamo homes are spending an average of 100 days on market, leaving us with 2.7 months of inventory. That means if no other homes came on the market, it would only take 2.7 months to sell all of the listings currently on our market.

The median price point is up 16.9% and the average days on market is down 3.8%. Listings are up 21.8%. New listings increased by 9.1% with 67 new listings. 27 homes in the market had price reductions, which is a 35% increase.

Since price reductions are up and days on market are down, Alamo needs a bigger shift in price reductions in order for the market to get back on track.

Finally, what’s happening right here in Danville? Our market has a health score of 97%. There are 80 homes for sale, the median price point is at $1.499 million, and homes spend an average of 80 days on market. That leaves us with 1.4 months of inventory.

The median home price is down 1.7% over the last 30 days, and the average days on market is up 23.1%, which is interesting. There are 80 listings on the market, which is down 7% over the last 30 days. New listings are down 18.8%. Price reductions are also down 19.4% with 25 price reductions in the market.

So, price reductions have gone down, the median price point has dropped, and homes are spending more time on the market. Buyers are telling us something—home prices need to come down if we want houses to sell.

Of course, this is just an overview of three different cities in the Bay Area. If you have any questions about your specific market, just give me a call or send me an email.

Please don’t hesitate to reach out to me with any questions in the meantime. I look forward to speaking with you!

Update on the Danville, Alamo, and Walnut Creek Markets

Today I wanted to give you a closer look at how the markets in Danville, Alamo, and Walnut Creek are doing.

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Today I wanted to give you a quick update on three of our favorite cities: Alamo, Danville, and Walnut Creek. Walnut Creek is one of the best cities on Earth; I personally live there. It's like the biggest little city here in the East Bay, and it has a health score of 86 out of 100. They have about 1.8 months of inventory, an average of 50 days on market, and the average price for a home is $608,000 with 94 homes for sale. If you're looking to buy or sell here, you want to get a move on sooner rather than later. The median price is down just 1%, but price reductions are down 52%, meaning a little over half the homes have had a price reduction. That tells us that there's a price correction happening and buyers are tired of getting beat up by sellers. Alamo, just south of Walnut Creek on the 680 freeway, is where I grew up and it's a very high-end neighborhood here in the East Bay. It has a health score of 80, so it's a very healthy market and three months of inventory with 24 homes for sale. The average price is $1,619,400 with an average of 71 days on market. That's a high price, but you get a lot for your money. I should know—I was raised there! That median price, though, is actually down 15.8%, and 62% of homes listed took a price reduction.

When it comes to market reports, there are thousands of things we can talk about.

Again, we're seeing that buyers are revolting against sellers price-gouging them, and the sellers have to comply. That's not a bad thing because our market needs to correct. Danville is just south of Alamo, and of the three cities, it's the healthiest with a score of 95. We have just 1.4 months of inventory and the average days on market is 51. The average price is $1,296,950 and we have 46 homes listed for sale. The average price here is up 3% in the last 30 days and only 28.6% of homes have taken a price reduction. When it comes to market reports, there are thousands of things we can talk about, and they shift on a daily basis. If you have any questions about your specific area or an area you're interested in, give me a call for a conversation about the important factors in that area at any given time. If you have any other questions at all, give me a call or send me an email anytime. I'd be glad to help!

Have You Checked Out San Ramon Yet?

Looking to buy or sell a home in the Bay Area? Click here to perform a full home search, or if you're thinking of selling your home, click here for a Free Home Price  Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (925) 838-4300 to answer any of your real estate questions.
Hey guys, today I want to talk to you about a great city called San Ramon. San Ramon is located a little bit south of Danville, and is more of a bedroom community. If you're a homebody and like a little less hustle and bustle, this is a great area. San Ramon is closer to Silicon Valley than Danville, and is an amazing town.

There are 2 different sides of San Ramon. The west side is the older, original single-family development that has been there since the 70's. The homes here are a little on the smaller side, but are priced great. In the middle of the city, ground has been broken on a City Hall, right next to the beautiful Central Park. On the other side of the park we have the east side, where great new developments like Windemere and Gale Ranch have opened up. 

Right now, there are a ton of people moving to this area from the San Jose and Hayward areas because of the great homes and even better schools. 

If you want to know more reasons why San Ramon is such a great place to live, please give me a call or send me a quick email. I'd love to talk to you about this area and show you all that it has to offer. 

Bay Area Real Estate Market Snapshot

Looking to buy or sell a home in the Bay Area? Click here to perform a full home search, or if you're thinking of selling your home, click here for a Free Home Price  Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (925) 838-4300 to answer any of your real estate questions.
Here at the McDaniel Callahan Team, we're excited to introduce our new video blog! Every two weeks, we'll be coming to you with short videos packed with relevant content to keep you informed and answer all your real estate questions. 
Today, we're going to take a look at market conditions in our area. Right now, we are in a strong seller's market. Home prices are going up and we have a lot of desirable inventory on the market. We've seen people overbidding to the point where some homes have sold for hundreds of thousands of dollars over the list price. There have also been all-cash and non-contingent offers, which are beneficial to sellers. 
Despite this flurry of activity in favor of sellers, we're starting to see the market shift. Lately, we've seen some homeowners accepting contingent offers, and the multiple-offer situations aren't driving value much higher than the original asking price.
Based on this information, we have a few suggestions for you. If you are thinking of selling, you need to sell now, while the market is still in your favor. As rates rise, we'll see fewer quality buyers out there - take advantage of current conditions for the best outcome. 
For buyers, it's best to hold off for a bit. Wait and see what the Fed does in November. If rates stay low, it's best to wait until prices start falling - you don't want to buy at the top of the market. 
We want to make your real estate experience as profitable as possible. If you have any specific real estate questions you'd like us to answer in future videos, give us a call or shoot us an email. We want to provide you with valuable information so you can make informed decisions when buying or selling a home in the Bay Area!