Homebuyers who are thinking of purchasing a home in Alamo will notice that the properties are divided into different market segments. Each of these market segments have a different market update that comes in different price range. Just recently, homes in every market segment for this neighborhood continues to increase in its sales pending rate.
As of May 2011, its real estate market is already in its 3rd successive monthly increase in sales pending for its detached homes for single families. It had a total of 25 sales pending properties which is actually the highest figure since 2007's May. Inventory has also risen but not at the same rate of sales pending.
Overall, the 25 pending sales properties in May is 39% higher (7 homes) from April and 67% (10 homes) than March. Inventory has also declined to 83 from April's 86, before it boosted to 97 by the end of May. Inventory relative to sales pending dropped to 3.9 months in May from 4.8 in April and 5.9 months in March.
Properties priced below $2 million made up 92% of Alamo's pending sales and 78% of inventory in May. This market segment had a 100% of sales pending in April and March. This is an increase to 23 in May from 18 in April and 15 in March. Inventory had dropped to 65 before rising to 76 by the end of May. Inventory relative to sales pending declined progressively to 3.3 months in May from 3.6 in April and 4.6 months in March.
However, the activity in the market segment for properties over $2 million is very minimal. There were only a total of 2 pending sales in May. But compared to 0 in March and April, this is still an increase of pending sales for this market segment. A total of 21 properties were available for sale in this market segment in May, untouched from April and an increase of 1 from March.
The real estate market for the neighborhood of Alamo continues to show an increase of pending sales homes for the past 3 months and even had the highest rate of sales pending for this neighborhood for the last 4 years. With the number of available homes for sale in this neighborhood, interested homebuyers will surely be satisfied with the number of choices they have in finding the perfect home in this neighborhood.