Not surprisingly, today the inventory numbers are the lowest they have been all year. Low inventory at the end of the year is normal for markets like Alamo and Danville that peak seasonally in the Spring and Summer. What wasn’t normal this year, is that the inventory never grew from the start of the year.
In Alamo, the year opened at 60 and never exceeded 70 the entire year—now at 26.
Inventory drops at this time of year because it’s not a time that people will put new listings on, and for occupied homes on the market, they will want a break to enjoy the holidays.
It’s not to say that buyers aren’t out there this time of year. I remember showing property one year on the day after Christmas to relocation buyers. They were in town for 3 days and they were determined to pick a house to buy.
In other words, the buyers that are out this time of year are serious. But if you’re trying to enjoy your Christmas, I can’t imagine anything worse than potential buyers coming through. My house is the most delightful place to be on Christmas Eve—everything decorated and lovely, beautifully wrapped gifts under the tree. But 24 hours later, it’s a different story: wrapping paper everywhere, millions of dirty dishes and pie pans.
So I felt for those people that I called the day after Christmas to show their homes that year—but most of the homes I showed were not occupied. Obviously, it’s much easier to keep a vacant home on the market.
But it’s not uncommon to take a vacant home off the market if it’s not selling at this time of year—if a listing is off for 30 days, it can come back on as “new” and this is a good time to take that break.
So—for the last time in 2012, here are our inventory numbers—down dramatically in nearly every area.
December 22, Saturday before Christmas, inventory numbers (compared to Dec 9th):
Alamo – 26 (down 8)
Danville – 62 (down 8)
Blackhawk – 24 (down 5)
San Ramon – 25 (down 5)
Dublin – 30 (down 2)
Pleasanton – 62 (up 6)
Lafayette – 21 (down 1)
Orinda – 19 (down 11)
Pleasant Hill – 20 (up 7)
Walnut Creek – 40 (down 11)
Rossmoor – 30 (up 3)
Antioch – 69 (up 3)
Until next year….Merry Christmas!