Livermore CA Homes for Sale | Livermore Market Update October 2015
Last month, I mentioned that the fall slow down had not affected Livermore as much as some of the surrounding communities. Livermore made up for that in October, with sales falling 25%. Demand was spotty, with some homes receiving a lot of attention and others not so much. Price was a big factor, with lower end homes being more in demand, but other factors (relative price, location, appearance, etc.) drove some homes to sell quickly and others to remain longer on the market. Generally speaking, homes stayed on the market longer and sold for less relative to their list price than in prior months.
Inventory fell for the second straight month, from 120 homes at the end of September to 107 at the end of October, well off the 128 homes for sale at the end of October 2014. 76 sales went to contract in October, a 25% drop from September’s 101 and 20 less than a year ago. Closed sales also fell, from 115 in September to 84 in October. A 1.4 month supply was on the market at the end of October, up from 1.2 months at the end of September. Homes were on the market an average of 31 days in October, 10 more days than in September and five more days than a year ago.
September’s median sales price was $647,000, which was $8,000 less than September’s $655,000 but $37,000 (6%) higher than October 2014’s $610,000. On average, homes sold for 98% of their list price in October, down from 100% in September and 99% a year ago. The price per square foot also slipped in October, from $397 in September to $395 in October. That was still 7% higher than October 2014’s $371.
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. Inventory is down and 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.