Pleasanton CA Homes for Sale | Pleasanton Market Update January 2016
Pleasanton CA is a town filled with over 71,000 residents ranked the wealthiest middle-sized city in the United States by the Census Bureau. Located about 25 miles east of Oakland and 6 miles west of Livermore, it’s a suburb in the San Francisco Bay Area and comes with a huge variety of fine dining options, shopping centers, cafes, and more.
Buyers of Pleasanton CA homes for sale will be delighted to hear that the vibrant city has been named in 2009 by Forbes as “America’s Top Hometown Spots,” in 2010 by Money Magazine as one of “The Best Places to Live,” and in 2014 by USA Today as one of “America’s Best Cities to Live In.”
At present, there is an unease in the Pleasanton real estate market, affected by the general uncertainty regarding the economy because of the current political environment and interest rates. Both buyers and sellers are more cautious, resulting to an increase in inventory in February after bottoming out in January. However, even with the increase, the inventory was still comparatively low with the shortest supply of lower-priced homes, which were in greatest demand.
In fact, sales which were expected to come up in January fell. This month saw fewer sales pending than in any month since December 2013. Median sales price was at its highest point since June, with homes selling, on average, at 100% of their list price. In addition, the homes were on the market for an average of only 13 days in January, indicating a strength of demand which matched the low for all of last year, with the record set in May, with a much hotter market.
For the month of January, pending sales decreased by 6, falling for the third straight month. From 44 in December to 26 in January, the market experienced a 41% decrease in sales. Compared to January 2015, pending sales were 7 units lower, and inventory were 8 units higher. There were more homes for sale in January at 49 compared to December at 36. There were 26 closed sales in January 2016. It fell 18 units down from December (44) but went 10 units up from last year (16).
The median sales price in January was $1,005,000 which was $171,000 higher than last year and $65,000 higher than December at $940,000. The price per square foot was 11% higher than a year ago but decreased from December’s $491 to January’s $481. There was a decline in the price per square foot but there was an increase in the median sales price and sales price to list price ratio . At 100% sales price to list price ratio, January was up 2% compared to 98% in December but below 101% in January 2015.
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 perfect time to sell a home in Pleasanton. While the inventory increased, there is still strong demand from buyers, especially for reasonably priced prime properties in impressive condition. Although multiple offers are still the norm for some properties, working with an experienced, highly competent, and trusted local real estate agent who is familiar with the Pleasanton market is decidedly crucial to your success.
Buyers: To get the home you’re looking for, be prepared to act as quickly as possible. Even though some properties stay on the market longer with fewer multiple offers, prime properties in impressive conditions get more buyers and multiple offers. To be in a strong position to act on new listings, you need to use your own strength as a buyer and have a committed, professional, and experienced Realtor® with an in-depth knowledge of the Pleasanton market.
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For more information on the Pleasanton real estate market, visit www.680Homes.com.
Call Doug Buenz, REALTORⓇ, at 925-621-0680 today so YOU can get your house sold for the highest realistic price in the shortest amount of time.
