Livermore CA Homes for Sale | Livermore Market Update August 2015
It was a bit of a mixed bag for the Livermore real estate market in August, with buyers still active but a little more cautious. Some homes are still seeing multiple offers and even somewhat crazy prices, while others that were expected to sell quickly have stayed on the market a while longer. Everyone is uncertain right now and that is leading to a more deliberate approach. Inventory and pending sales increased in August but the median sales price slipped.
After a 17% increase in the number of available homes for sales in July, Livermore added another 7% to inventory in August. 129 homes were on the market at the end of August, eight more than at the end of July but five less than a year ago. Pending sales increased by 10 units, from 98 in July to 108 in August. 31 more sales went to contract in August than did a year ago. Closed sales, on the other had, fell 26%, from 114 in July to 84 in August.. 95b sales closed in August 2014. The average number of days homes were on the market in August was 19, one less day than in July.
August’s median sales price was $673,000, a 3% drop from July’s $696,000. August’s median sales price was still 4% higher than a year ago ($649,000). There was not much change in the price per square foot ($380 in August versus $379 in July) or the sales price to list price ratio (100% in both July and August).
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 still a great time to be selling a home in Livermore. There is still strong demand from buyers, 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 some properties, having a highly competent agent who knows the Livermore market will be critical to your success
Buyers: Being prepared to act quickly will be the key to getting the home you are looking for. While properties are staying on the market a bit longer, and there are fewer multiple offers, prime properties are still getting lots of attention and often see multiple offers. 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.