Livermore CA Homes for Sale | Livermore Market Update June 2017
- Low end of market is hot
- Pending sales fall 21% after record May
- Inventory increases
- But is still about half the level of year ago
- Prices rise
The Livermore real estate market couldn’t maintain the near record pace of pending sales from May but remained very strong in June. Homes priced under $1 million were in particularly strong demand, often receiving multiple offers, selling for more than their list price and closing in an average of only 14 days. Overall, prices were on the rise, as was inventory. However, inventory is still very low, at about half the level of a year ago.
Inventory increased 16%, from 69 homes at the end of May to 80 at the end of April. 151 homes were actively listed at the end of June 2016. That still left less than a month’s supply (0.9 months) at the end of June, up from 0.6 months at the end of May, but lower than June 2016’s 1.2 months.
Pending sales fell 21%, from 119 in May to 94 in June. 121 sales went to contract a year earlier. 112 sales closed in June, up from 108 in May. On average, June’s sales closed in 17 days, up from 15 in May but lower than the 21 days it took in June 2016.
June’s median sales price was $814,000, up 2% from $798,000 in May and 12% from $725,000 in June 2016. The average sale in June was for 101% of the list price, compared to 100% in May and 99% a year ago.
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.