After some months of increasing inventory in the real estate market of Blackhawk, a significant decline occurred in August. Sales pending continued to be strong in last couple of months if you compare July’s decrease with the increase in August.
Overall, inventory of detached homes for single families in Blackhawk is at 39 homes by the end of August, a decrease of 28% or 15 homes from 54 homes in July. There were 50 homes in the market by the end of June. Pending sales declined to 5 in July from 11 in June, before it increased to 13 in August. The average sales pending of 9.7 in the 3 months is not too high from the average of 8.7 for this year. Due to the decrease in inventory and unstable pending sales, inventory relative to sales pending was unpredictable from June to August. Inventory at the end of June was 4.5 month, 10.8 months by the end of July and 3.0 months in August.
Single Family Homes in Blackhawk
August 2011 Inventory Vs Sales Pending
Homes that are priced below $1,000,000 made up 31% of inventory in San Ramon by the end of August. This is compared to the 26% in June and 30% of inventory in July. There were 12 properties listed in this market segment at the end of August, in comparison to 13 in June and 16 in July. 54% of sales pending were in this price range in August, compared to July’s 40% and June’s 45%. This is because of the significant increase in sales pending in August with 7, compared to 5 in June and 2 in July. Inventory relative to sales pending resulted to 1.7 months in August from 2.6 in June and 8.0 in July.
Single Family Homes in Blackhawk Below $1,000,000
August 2011 Inventory Vs Sales Pending
There are 27 Homes that are priced over $1,000,000 at the end of August, in comparison to 38 in July and 37 in June. This is a 27% decrease to August from June. Sales pending dropped to 6 in June to 3 in July and then back to 6 in August. Inventory relative to sales pending was unpredictable in this market segment too, to 4.5 months by the end of August from 6.2 months at the end June and 12.7 months by the end of July.
Single Family Homes in Blackhawk Over $1,000,000
August 2011 Inventory Vs Sales Pending
Inventory moderately dropped in Blackhawk in August. However, its rate is still higher than the rate in January with 33 homes in the list. Sales continue to be strong and the market is on firm footing.
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