Pleasanton CA Homes for Sale | Pleasanton Market Update February 2016
Pleasanton CA is a charming city conveniently located nearby the San Francisco and San Jose metropolitan areas. Once ranked by the Census Bureau as the wealthiest middle-sized city in the United States, Pleasanton CA is a beautiful town filled with over 71,000 residents who enjoy its wide array of shopping centers, fine dining options, cafes, and more.
Interested buyers of Pleasanton CA homes for sale will love that this vibrant city has been named in 2009 by Forbes as “America’s Top Hometown Spots,” and also been recognized by USA Today in 2014 as the 4th in “America’s Best Cities to Live In.”
Though there is still some uneasiness due to the political and economic climate, Pleasanton real estate bounced back in February by registering a significant increase in pending sales and, for the second straight month, rising inventory. This was a welcome increase as pending sales have been falling steadily since May. Inventory may still be low but it is now ahead of last year’s level. Prices also firmed up, with all indicators rising above their January levels, as well as those from a year ago. The demand for lower-priced homes remains strong, where there is just over two weeks of inventory of homes priced below $1 million.
For the month of February, there were 53 available homes for sale - 4 units higher than at the end of January and 10 more than last year. From 24 in January, the pending sales more than doubled to 50 in February. That was on par with January 2015’s 51 pending sales. There were 23 closed sales in February 2016, 6 units lower from the 29 closed sales in January and below the 30 closed sales recorded in February 2015. The increase in pending sales cut the inventory relative to sales from 2 months at the end of January to 1.1 months at the end of February. February’s closed sales stayed in the market for an average of 20 days, although 5 days longer than in January, it is still considered to be a hot market.
The median sales price in February was $1,020,000 which was 4% more than January’s $985,000 and 9% higher than last year’s $940,000. The price per square foot was $481 in February, 13% higher than a year ago at $427 but only a little higher than January’s $478. Similar with last year, the sales price to list price ratio in February was 100%, up by 1% than the 99% registered in January.
The tables below give more details on the present market compared to prior periods, as well as a look at different market segments.
Sellers: This is still the best time to sell a home in Pleasanton. Inventory is low and there is still a strong demand from buyers, especially for fairly priced prime properties in excellent condition. Proper marketing and staging will be important in order to get the best deal for your home. While some properties get multiple offers, working with an experienced, highly competent, and trusted local real estate agent who is familiar with the Pleasanton market is crucial to your success.
Buyers: The key to getting the home you really want is to act fast. While properties are staying on the market longer with fewer multiple offers, prime properties in excellent conditions still get a lot of interest and even multiple offers. Having a highly skilled and experienced Realtor® with an in-depth knowledge of the Pleasanton market by your side and with your own strength as a buyer, you’ll be in a strong position to buy the home of your dreams.
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For more information on the Pleasanton real estate market, visit www.680Homes.com.
