Livermore CA Homes for Sale | Livermore Market Update May 2015
After pausing a little to catch its breath in April, the Livermore real estate market heated up again in May. Sales were up sharply in May and were 45% higher than a year ago. Better yet, inventory gains actually outpaced sales gains in May, so we ended the month with nearly a one month supply. Price indicators increased across the board, with the median sales price jumping 11%.
The number of homes for sale increased 26% in May, from 85 at the end of April to 107 at the end of May. That was more inventory than we had a year ago here (91 homes). 123 sales went to contract in May, a 17% increase from 105 in April and 45% more than May 2014’s 85. The larger increase in inventory improved the supply from 0.8 months at the end of April to 0.9 months at the end of May.
The median sales price jumped 11% in May to $719,000, an increase of $69,000 from April’s $650,000. The price per square foot increased 2% to $400 in May. On average, homes sold for their asking price in May, unchanged from April.
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. 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 Livermore market is critical.