Livermore CA Homes for Sale | Livermore Market Update April 2017
- Market cools some
- Inventory jumps 53%
- Pending sales flat from March
- Only 16 days on market
The Livermore real estate market cooled somewhat in April from a very hot March. The market is still very active and demand is strong. Homes were listed for an average of only 16 days in April (20 days is generally considered to be a hot market). In addition, the average sale was for 101% of the asking price. We did get some relief on the inventory side, with many new homes coming on the market. 53% more homes were available for sale at the end of April than March.
April’s median sales price was $760,000, down slightly from $755,000 in March but 10% higher than April 2016’s $690,000. The price per square foot slipped from $417 in March to $409 in April and $423 a year ago. The average sale in April was for 101% of the list price, down from 103% in March and 102% in April 2016. Homes sold in April were listed for an average of 16 days, up slightly form 15 days in March and 13 days a year ago.
92 homes were actively listed at the end of April, 32 more than at the end of March but 41 less than was available a year ago. Pending sales were flat at 93. That was 11% fewer than went to contract a year earlier. Even with the jump in inventory, there was only a 1.0 month supply at the end of April, up from 0.6 months at the end of March.
The tables below provide further details on the current Livermore CA 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 Livermore. Inventory is low and demand remains strong, especially for prime properties in excellent condition that are priced right. Proper marketing and staging will be important to getting the most for your home. While multiple offers are still occurring for a few select properties, most other homes have to be priced strategically to get top dollar. More than ever, having a highly competent agent who knows the Livermore market will be critical to your success
Buyers: The current market is fairly balanced, especially compared to the previous few years. Prime properties are still getting a great deal of attention and even multiple offers on occasion. Being prepared to act quickly will be the key to getting the home you are looking for. Having a professional Realtor who understands the Livermore market and your own strengths as a buyer will put you in a strong position to secure the home you really want.