Monday, June 1, 2009

East Bay Housing Review June 2009

Here is a chart showing housing inventory levels, sales, and REO inventory levels. You can clearly see that the number of REOs for sale begins to drop off in January of 2009….This is the result of foreclosure moratoria that began in the fall.

The inventory levels are now down about 50% from where they were in June of 2008, with REO inventory about one third of where it was a year ago.

Sales are also higher than a year ago, both in high and low-end communities (thought the low end improvement is more dramatic).

cc and am june 1

Here is a chart showing a sampling of high-end communities:

june high end

Here is a chart showing a sampling of more affordable communities:

june low end

You can see from these 2 charts that this continues to be a tale of two markets: an active low-end and a stagnant high-end. Price follows volume…

Here are the stats showing inventory levels:

6/1/2009 MLS Active MLS Sold Last Month Months Inventory
Alameda County 3093 994 3.11
Contra Costa County 3540 1182 2.99
Alamo 137 5 27.40
Antioch 262 171 1.53
Berkeley 103 41 2.51
Blackhawk 91 5 18.20
Brentwood 206 95 2.17
Castro Valley 117 32 3.66
Clayton 49 9 5.44
Concord 250 99 2.53
Danville 231 33 7.00
Diablo 16 0 #DIV/0!
Discovery Bay 82 20 4.10
Dublin 89 41 2.17
El Cerrito 32 15 2.13
El Sobrante 34 9 3.78
Emeryville 53 1 53.00
Fremont 390 136 2.87
Hayward 361 135 2.67
Hercules 64 23 2.78
Lafayette 121 17 7.12
Livermore 232 71 3.27
Martinez 130 29 4.48
Moraga 63 14 4.50
Newark 72 32 2.25
Oakland 922 267 3.45
Oakley 163 61 2.67
Orinda 93 19 4.89
Piedmont 26 6 4.33
Pinole 34 21 1.62
Pittsburg 186 113 1.65
Pleasant Hill 77 36 2.14
Pleasanton 250 54 4.63
Richmond 337 131 2.57
Rodeo 19 8 2.38
Rossmoor 166 25 6.64
San Leandro 160 69 2.32
San Pablo 105 53 1.98
San Ramon 224 72 3.11
Union City 122 56 2.18
Walnut Creek 260 50 5.20

Here are the REO and Short Sale stats:

6/1/2009 MLS Active SHORT SALE REO % Distressed
Alameda County 3093 935 467 45.33%
Contra Costa County 3540 1166 572 49.10%
Alamo 137 8 3 8.03%
Antioch 262 160 61 84.35%
Berkeley 103 8 11 18.45%
Blackhawk 91 7 1 8.79%
Brentwood 206 104 35 67.48%
Castro Valley 117 18 12 25.64%
Clayton 49 12 2 28.57%
Concord 250 119 54 69.20%
Danville 231 31 8 16.88%
Diablo 16 0 0 0.00%
Discovery Bay 82 30 16 56.10%
Dublin 89 27 6 37.08%
El Cerrito 32 8 2 31.25%
El Sobrante 34 17 5 64.71%
Emeryville 53 11 4 28.30%
Fremont 390 82 36 30.26%
Hayward 361 187 83 74.79%
Hercules 64 39 18 89.06%
Lafayette 121 10 3 10.74%
Livermore 232 78 33 47.84%
Martinez 130 26 26 40.00%
Moraga 63 4 2 9.52%
Newark 72 45 10 76.39%
Oakland 922 269 207 51.63%
Oakley 163 73 59 80.98%
Orinda 93 9 4 13.98%
Piedmont 26 3 0 11.54%
Pinole 34 14 11 73.53%
Pittsburg 186 108 54 87.10%
Pleasant Hill 77 16 10 33.77%
Pleasanton 250 33 8 16.40%
Richmond 337 161 91 74.78%
Rodeo 19 10 9 100.00%
Rossmoor 166 4 0 2.41%
San Leandro 160 70 27 60.63%
San Pablo 105 46 41 82.86%
San Ramon 224 68 16 37.50%
Union City 122 70 14 68.85%
Walnut Creek 260 41 17 22.31%