Blackhawk Market Update June 2010 – Stable

The real estate market in Blackhawk remained pretty stable over the past two months. Both pending sales and inventory remaining largely unchanged. The market continued to be dominated by homes priced over $1 million, although lower priced homes showed increases in both inventory and pending sales. Homes priced over $1 million accounted for 82% of the inventory and 62% of the pending sales at the end of June, compare to 90% and 67%, respectively at the end of April.

Overall, there were 13 pending sales at the end of June, compared to 16 at the end of May and 12 at the end of April. Inventory was pretty stable; going from 61 at the end of April to 53 at month-end May to 56 at month-end June. Inventory relative to pending sales stood at 4.3 months at the end of June, compared to 5.1 months at the end of April.

All Blackhawk Single Family Homes
Inventory Vs Pending Sales June 2010

There were 10 homes available in Blackhawk priced under $1 million at the end of June, up from 9 at the end of May and 6 at the end of April. There were 5 pending sales in this segment at month-end June, compared to 4 at month-end April. There were 2 months of inventory relative to pending sales in this price range at the end of June, compared to 1.5 months at the end of April.

Blackhawk Single Family Homes Under $1 Million
Inventory Vs Pending Sales June 2010

Inventory fell a bit in the market segment of homes priced over $1 million, from 55 at the end of April to 46 at the end of April. Pending sales were unchanged at 8. Inventory relative to pending sales fell from 6.9 months at the end of April to 5.8 months at the end of June.

Blackhawk Single Family Homes Over $1 Million
Inventory Vs Pending Sales Apr 2010

The ending of the federal tax benefit for homebuyers does not appear to have had a big impact on the Blackhawk market. Both inventory and pending sales have been relatively stable over the past few months.