http://danvillesanramon.com/print/story/print/2008/05/23/high-end-market-review-alamo-blackhawk-danville


Danville Express

Real Estate - May 23, 2008

High End Market Review: Alamo, Blackhawk, Danville

Although High End Home sales have cooled a bit in the area, properties priced at $2 million and above continue to sell. As of this writing there are 50 Alamo High End homes listed as active, sold or pending. Forty-two homes are listed as active with an average list price of $3,072,795. These properties average 90 days on market and are listed at a square foot price of $573. Two properties are pending with an average square foot price of $523 and 84 days on market. Six Alamo High End properties have sold from Jan. 1-April 30, 2008. Average sold price is $2,423,333 and average square foot price is $505. On average they sold in 64 days with one property, Nancy's and my own listing, selling in one day at $540 per square foot, which is the highest price paid year to date for an Alamo High End Home.

During the same time period last year, 11 Alamo High End Homes sold for a 45 percent decrease in unit sales. Average selling price for these homes was $3,015,813 for a 20 percent decrease in average purchase price. Median price dropped from $2,845,000 to $2,450,000 for a less severe decline of 14 percent. Average square foot price in 2007 among High End homes was $556 for approximately a 9 percent decline in the same year-on-year time periods. Days on market extended from 18 in 2007 to 64 in 2008, moving from a little more than two weeks to more than two months.

Blackhawk is showing 23 High End properties listed as active pending and sold. Nineteen are listed as active. They average 93 days on the market at an average list price of $3,645,894 and an average square foot price of $616. Two homes are listed as pending with an average list price of $2,723,500 and an average square foot price of $503. Two Blackhawk High End properties have sold in 2008. Their average sales price was $2,112,500. They averaged 35 days on the market and fetched a square foot price of $433. During the same time period last year three Blackhawk High End properties sold at an average selling price of $2,105,000. Their average square foot price was $432. Although one less unit sold in the year-on-year comparison, there was little change in price.

Thirty-two High End Homes are currently listed as Active Pending or sold in Danville. Twenty-five are listed as active with an average list price of $3,147,926. These properties average 77 days on market and are listed at an average of $701 per square foot. Six properties are marked as pending with an average list price of $3,252,500 and an average square foot price of $627. They are reflecting an average 127 days on market. Year to date only one High End home has sold in Danville. It sold for $2,265,000 at a square foot price of $169 dollars.

During the same time period last year six Danville properties sold beyond the $2 million mark. The average selling price was $2,766,666. They sold in an average of 131 days at a square foot price of $533. The median price was $2,725,000. There is too little data to make any meaningful year on year statistical comparisons other than to say. High End Homes in Danville are not selling at the same pace or price as in 2007.

To receive a copy of our High End Market Review with complete details, e-mail joecombs@thecombsteam.com and place High End in the subject line, or call 989-6086.

Data presented in this column is based in whole or in part on data supplied by the Contra Costa and Alameda Multiple Listing Service and other quoted sources. Joe and Nancy Combs, Remax and the MLS Service do not guarantee the accuracy of this information.

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