Summer is here and as of July 5th, there are 45 active properties for sale in Alameda ranging from condos to fourplexes.
Here's what eye-opening. Out of these 45 properties for sale, 32 of them have not sold in the customary two weeks of being on the market. What this means is that properties are taking longer to sell and buyers are being picky and they're not overbidding on every property that hits the market anymore.
Throw in the fact that Alameda City Council has passed "just cause" making some landlords sell their property and exit the rental business because now it's too difficult to evict a problem tenant. With increased inventory, supply is finally catching up to demand. Fixed up properties in good locations that are priced right are still selling with multiple offers, however, anything else is proving to be a tougher sell.
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