Alpine California Condos
There are several condo complexes in Alpine, CA. Most started as apartments that were converted into condominiums.
Alpine Condos and Townhomes
Most of the condominium complexes in Alpine are two stories with single-story units on each level. The Timbers, and Wood Glen are townhome styles and Ridge Crest is a hybrid with the townhomes are in the back of the complex.
Alpine Condos with Garages
The Timbers
Wood Glen Condominiums
Alpine Condo Market Mid-Year Update 2024
What Can We Expect in the Later Part of 2024
The real estate market, in general, has experienced notable shifts over the past three years. The same can be said, though on a smaller scale, with the Alpine California condo market, with variations in sales volume, pricing, and market dynamics. We analyzed the sales data from 2022 to 2024, offering a comprehensive view of the trends and changes across different neighborhoods and unit sizes. By examining the number of sales, sales prices, and days on the market, we can better understand the evolving landscape of the Alpine condo market.
Historical Alpine Market Overview:
The Alpine condo market has seen fluctuations in activity over the past three years. In 2022, the market was relatively active, with a strong number of sales, even after the high sales from the previous two years and competitive pricing. In 2023, we witnessed a higher sales volume, likely due to broader economic uncertainties and rising interest rates, and the accessibility of condos compared to single-family home prices. In 2024, the market has had less inventory.
Alpine Condo Historical Sales Volume
|
Year
|
2018
|
2019
|
2020
|
2021
|
2022
|
2023
|
|
Number of Sales
|
22
|
15
|
27
|
28
|
17
|
23
|
Historical Bedroom Analysis
- One-Bedroom Units: These units have consistently been the most affordable option across the years. In 2022, the average price was around $350,000, increasing slightly to $375,000 in 2023. By 2024, prices have risen to approximately $405,000, reflecting growing demand from first-time buyers and investors.
- Two-Bedroom Units: The most popular choice among buyers, these units have seen steady demand. In 2022, the average price was about $409,000. This increased to $442,500 in 2023, with prices stabilizing around $451,000 in 2024. The consistent demand for two-bedroom units highlights their appeal to a wide range of buyers.
- Three-Bedroom Units: There are far fewer three-bedroom units in Alpine. These units have commanded higher prices, averaging around $558,000. This reflects the premium buyers' willingness to pay for additional space and the potential for family living. In 2022, the average price was approximately $565,000. Prices have increased in 2023 to 2024. with fluctuations depending on which complex it is. The last one in Alpine Timbers sold for $550,000 where as the last one in Wood Glen sold for $585,000.
Neighborhood Analysis
Silver Mountain:
This neighborhood has consistently been a popular choice, with numerous sales each year. In 2022, Silver Mountain saw a healthy number of transactions, with two-bedroom units averaging around $408,000. In 2023, prices increased slightly to approximately $465,000, reflecting continued demand. In 2024, the average price has stabilized around $450,000, indicating a balanced market.
Alpine Oaks Condominium:
Known for its affordability, Alpine Oaks Condominium has attracted buyers looking for one- and two-bedroom units. In 2022, the average price for two-bedroom units was about $407,000. The prices remained relatively stable in 2023, with a slight increase to $430,000. In 2024, prices have continued to rise modestly, reaching an average of $445,000.
Market Trends and Insights
Several trends have influenced the Alpine condo market in 2024:
Price Stability:
Overall, the market has shown a degree of price stability, with average closing prices remaining consistent across the year. This suggests a balanced market where supply and demand are relatively aligned.
Demand for Space:
There is a clear demand for larger units, as evidenced by the higher prices for three-bedroom condos. Buyers are prioritizing space; this could be due to lifestyle changes and remote working trends or because affordability has families that would have bought a single-family home and bought a condo instead.
Neighborhood Preferences:
Certain neighborhoods, Silver Mountain and Wood Glen in general, are selling faster and for higher prices than the other condominium complexes in Alpine.
Alpine Condo Buyers
For prospective buyers in 2024, the Alpine condo market offers a variety of options depending on budget and space requirements. One-bedroom units in neighborhoods like Alpine Village provide an affordable entry into the market. However, those seeking more space should consider two-bedroom units in Alpine Oaks Condominium, which offer a good balance of price and amenities. Buyers should act decisively, as desirable properties that are priced correctly tend to sell quickly.
Alpine Condo Owners
Condo owners in Alpine can take comfort in the market's stability and sustained demand. If you're considering selling, properties in popular neighborhoods like Alpine Oaks Condominium are likely to attract significant interest and achieve competitive prices. Maintaining and upgrading your unit can further enhance its market value, especially in a market where buyers are seeking move-in-ready homes. However, before you make any improvements, be sure to give me a call to provide a free market analysis. My market analysis will ensure that you spend the least amount of money for the highest return, focusing on minor repairs and staging instead of renovations that will cost more than your expected return. Overall, the market conditions in 2024 suggest a favorable environment for sellers, particularly those with well-maintained properties in desirable locations.