Friday, November 27, 2009

East Bay Realtor: Albany Real Estate Market Update

East Bay Real Estate Albany Housing Market Update
This chart shows what's been going on in Albany for the past 12 months.  The first bar represents the median "for sale" price and the second bar represents the median "sold" price in a given month.  Because escrow lasts usually about 30 days there may be a months lag between forsale and sold.  But the main point of this graph is to look at the trend.  Has the Albany housing market hit bottom?  This chart is not definitive but my opinion is "yes it has."

The second chart depicts the amount of available housing stock in Albany.  It clearly shows that there is little availability.  Houses in Albany are in demand.  And this basic law of the marketplace is keeping home prices in Albany strong.  I think as we look forward we will see prices showing an increase and sales will continue to be brisk.

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