CNNMoney. com reported that home prices gained for the 3rd straight month. While this was a national figure it shows signs that our housing market is stabilizing and gaining a little. Read full article here.
As I always like to emphasize housing markets are really comprised of micro markets. Within Alameda you will find markets within markets. Even more so in Cities like Oakland that cover such a large area.
Single family detached homes have shown different levels of activity compared to Condos or Townhomes.
My recent experience with representing buyers is that the hottest segment of the market in terms of sales and multiple offers is the price points between 450k and 600k. These are the first time home buyers who are now able to enter the market. Interest rates are still low and they have been able to take advantage of the first time home buyer tax credit. Unfortunately inventory in Alameda has been low this summer so that might explain why many people are chasing the most desirable homes.
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