Livermore CA Homes for Sale | Livermore Market Update August 2017
- Inventory less than half of year ago number
- Pending sales impacted by low supply
- Less than a month’s supply
- Median sales price rises
Inventory dipped again in August and was about half that of a year ago. While buyers were active, it’s difficult to buy what isn’t there. Quality properties were snapped up quickly though, as homes sold in August did so in only 24 days, on average. While price indicators were mixed, the median sales price was 18% higher than in August 2016.
August’s median sales price was $818,000, 3% higher than July’s $797,000 and 18% higher than August 2016’s $691,000. The average sale was for 100% of the list price and took 24 days. That compares to 102% and 18 days, respectively, in July and 99% and 27 days a year ago.
Inventory fell by three units, from 77 at the end of July to 74 at the end of August. 139 homes were for sale at the end of August 2016. Pending sales managed a small gain, from 89 during July to 91 in August. That was still 10% lower than August 2016’s 101. Inventory relative to pending sales was little changed from July at 0.8 months, down from 1.4 month a year earlier.
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 very low and demand is 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 has been fairly balanced, especially compared to the previous few years but inventory is low and multiple offers much more common than in the past year. Prime properties, in particular, are getting a great deal of attention and multiple offers. 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.