Blackhawk CA Homes for Sale | Blackhawk Market Update November 2015
November was a surprisingly strong month for the Blackhawk real estate market, given that November is a month when activity drops as winter sets in and people turn their attention toward the holidays. Pending sales were their highest level since June and inventory has remained relatively high. Prices, as indicated by the median sales price and price per square foot have remained solid. The one indicator showing real weakness was the sales price to list price ratio, which was at 87% in November. That was the first time this ratio was under 90% in over three years.
40 homes were actively listed for sale at the end of November, down six from October’s 46 but up 28 units from a year ago. 10 sales went to contract during November, compared to six in October and seven a year ago. Inventory relative to ending sales dropped from nearly eight months at the ned of October to four months at the end of November. The average sale in November was on the market for 74 days, down from 94 days in October.
November’s median sales price was $1,799,000, an increase of 20% over October’s $1,495,000 and a 22% increase over November 2014’s $1,475,000. ON average, homes sold in November for 87% of their list price, down from 94% in October and 99% a year ago. November’s price per square foot was $422. That was a $7 increase from October but a $30 decrease from November 2014.
The tables below provide further details on the current market compared to prior periods, as well as a look at different market segments.
Sellers: It is a great time to be selling a home in Pleasanton. There just is not enough inventory to satisfy demand and it is the sellers who have the advantage right now. Proper marketing and staging will be important to getting the most for your home. Being prepared to evaluate multiple offers and sift through the options will be critical. While multiple offers will be the norm, being extremely familiar with the Pleasanton market will be critical to get the most value out of your home.
Buyers: Being prepared to act quickly will be the key to getting the home you are looking for. Properties are not staying on the market long and multiple offers are the norm. Understanding the current market and your own strengths as a buyer will put you in a strong position to act on new listings. Intimate knowledge of the Pleasanton market is critical.