2009 Los Alamos CA Real Estate and Foreclosure Market Update

There were 16 home and condo sales in Los Alamos, CA in 2009. Sales are down from the 20 homes that were sold in 2008. Overall, average prices are also down from 2008, when the average sale price was $417,000. In 2009, the average sales price was $353,000 with 117 days on market at $208 per square foot. Days on market are up as the 2008 average days on market was 95. Price per square foot was about the same as 2008, when it was $209, so only $1 less per foot in 2009. The least expensive sale was a 3 bedroom, 2 bath home built in 1974 on a .23 acre lot (a short sale) which sold for $237,500 in April 2009. The most expensive sale was a REO property (foreclosure), a 4 bedroom, 2 bath, 2100 sq. ft. home on Foxen Lane built in 2007 which sold for $500,000 in June 2009.

Looking at the foreclosure market in 2008, 70% or 14 of the 20 sales were bank owned properties or short sale — 12 REOs and 2 short sales. In 2009, that figure is about the same with 11 out of 16 sales being foreclosures or pre-foreclosures. However, there was a slight decrease in REOs (only 4) and increase in short sales (7 total). In 2009, average price of foreclosed homes in Los Alamos was $375,000 with 43 days on market at $207 per square foot. And, the average price of short sales in Los Alamos was slightly lower at $340,000 with 193 days on market and $196 per square foot.

Tni LeBlanc, JD, M.A., e-PRO
Broker/Owner, Mint Properties
(805) 878-9879, tni@MintProp.com
www.MintProp.com
www.iLovetheCentralCoast.com
www.SellMyCentralCoastHome.com
www.CentralCoastRealEstateSearch.com

*Based on the information from the Central Coast Regional MLS. Neither the Association, the Multiple Listing Service, or Mint Properties guarantees or is in any way responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activity in the market.