East Bay Housing Review July 2009

Trends from the last few months continue to accelerate. Many of the escrows that closed in June were able to take advantage of sub-5% mortgage rates. This is the time of the year when home sales peak. This, coinciding with reduced inventory, has lead to a strengthening of prices.

Expect this trend to continue through the end of July, before seasonal sales volume declines in the face of rising distressed inventory this fall.

Here is a graph showing Inventory, REO, and Sales levels for the East Bay:

Here is a graph showing the same data from a sample of higher-priced communities:

Here is a graph showing the same data from a sample of lower-priced communities:

As you can see, the tale of two market continues. REOs for sale increased in some of the lower-priced communities, though, overall, the numbers continued to fall from previous months.

Here are the stats showing inventory levels from all communities:

7/1/2009	MLS Active	MLS Sold Last Month	Months Inventory
Alameda County	2881	1141	2.52
Contra Costa County	3294	1261	2.61
Alamo	132	11	12.00
Antioch	262	171	1.53
Berkeley	88	47	1.87
Blackhawk	76	6	12.67
Brentwood	196	73	2.68
Castro Valley	111	30	3.70
Clayton	51	14	3.64
Concord	220	117	1.88
Danville	227	51	4.45
Diablo	19	1	19.00
Discovery Bay	67	37	1.81
Dublin	93	46	2.02
El Cerrito	28	16	1.75
El Sobrante	31	12	2.58
Emeryville	52	8	6.50
Fremont	361	142	2.54
Hayward	343	150	2.29
Hercules	67	34	1.97
Lafayette	113	19	5.95
Livermore	205	82	2.50
Martinez	129	45	2.87
Moraga	58	11	5.27
Newark	70	31	2.26
Oakland	868	312	2.78
Oakley	148	49	3.02
Orinda	83	17	4.88
Piedmont	22	13	1.69
Pinole	33	14	2.36
Pittsburg	171	109	1.57
Pleasant Hill	69	20	3.45
Pleasanton	232	74	3.14
Richmond	294	142	2.07
Rodeo	14	10	1.40
Rossmoor	174	21	8.29
San Leandro	146	78	1.87
San Pablo	78	60	1.30
San Ramon	198	90	2.20
Union City	91	62	1.47
Walnut Creek	246	58	4.24

Here are the REO and Short Sale stats from all communities:

7/1/2009	MLS Active	SHORT SALE	REO	% Distressed
Alameda County	2881	834	444	44.36%
Contra Costa County	3294	984	532	46.02%
Alamo	132	10	4	10.61%
Antioch	262	136	79	82.06%
Berkeley	88	5	7	13.64%
Blackhawk	76	6	0	7.89%
Brentwood	196	87	39	64.29%
Castro Valley	111	16	10	23.42%
Clayton	51	12	2	27.45%
Concord	220	94	56	68.18%
Danville	227	29	5	14.98%
Diablo	19	0	0	0.00%
Discovery Bay	67	27	10	55.22%
Dublin	93	23	8	33.33%
El Cerrito	28	6	2	28.57%
El Sobrante	31	13	3	51.61%
Emeryville	52	11	5	30.77%
Fremont	361	76	25	27.98%
Hayward	343	187	75	76.38%
Hercules	67	39	20	88.06%
Lafayette	113	9	6	13.27%
Livermore	205	64	30	45.85%
Martinez	129	28	20	37.21%
Moraga	58	5	1	10.34%
Newark	70	38	13	72.86%
Oakland	868	242	205	51.50%
Oakley	148	61	50	75.00%
Orinda	83	5	2	8.43%
Piedmont	22	0	0	0.00%
Pinole	33	15	10	75.76%
Pittsburg	171	92	48	81.87%
Pleasant Hill	69	18	5	33.33%
Pleasanton	232	29	5	14.66%
Richmond	294	125	80	69.73%
Rodeo	14	9	3	85.71%
Rossmoor	174	2	2	2.30%
San Leandro	146	67	25	63.01%
San Pablo	78	33	26	75.64%
San Ramon	198	56	13	34.85%
Union City	91	48	18	72.53%
Walnut Creek	246	34	12	18.70%