With an attractive location near San Francisco and San Jose, Pleasanton, is starting to see multiple offers on homes in certain ranges again.

"The housing market in Pleasanton is still fairly robust, with multiple offers not unusual in the lower and mid-price ranges. The inventory of homes for sale has gone up only slightly, but the number of homes selling is outpacing the rise in inventory," says Realtor Joan Budne, "At the end of April, the number of active listings was 207, and the number of pendings was 117, which is about a 1.77 month supply. So, the bottom line is that the supply of homes went down again this month despite the larger inventory."

Says Realtor Angela Manatt, "In Pleasanton, you will enjoy year-round temperate climate, top-performing schools, excellent sports leagues, vibrant employment centers and a myriad of top-notch shops and restaurants. We are less than 40 miles from San Francisco and less than 30 miles from San Jose. You can get to ski resorts in about two hours and Lake Tahoe in three."

"This spring may be your best time to buy while interest rates are still at record lows," advises Manatt. "However inventory levels are down, prices are starting to stabilize and in some cases move up again. Single-family homes under $550K and newer condo/townhomes under $450K are still the strongest market sector."

She explains, "Pleasanton remains among the one of the most desirable cities in the East Bay, employment is still relatively strong and the schools are among the best in the Bay Area. Home prices have stabilized from recent months and the high-end properties ($850,000 and up) are remaining on the market for over 45 days. Starter homes (below $550,000) are still holding their value and in some cases are appreciating. Now is an excellent time to move up to a larger home or to enter the Pleasanton market while interest rates are low."

Agrees Realtor Vince Perpetuo, "Market conditions have solidified. Million dollar plus homes are selling with a 6-8 week marketing time. Although resale homes have slipped in marketing time, prices are increasing ever so slightly. Decreased inventory and low interest rates and the consumer's desire to live in the Tri-Valley area are some of the reasons why the market is still strong."

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Published: June 2, 2003

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