Livermore CA Homes for Sale | Livermore Market Update December 2015
Pending sales were at their lowest point in eight years in Livermore in December and inventory fell to its lowest level in 2015. Inclement weather on top of the normal December slow down kept many buyers off the market in December. Price indicators were mixed, with the median sales price setting a new record while the price per square foot was at its low point for the year.
With only 50 properties available for sale at the end of December, inventory was lower than at any time since December 2014 when 42 properties were on the market. That represented a supply of 1.4 months, up from 1.0 month at the end of November. The relative supply went up due to the fact that sales were so low. Only 37 sales went to contract in December, half of November’s sales and the fewest since December 2007. On average, homes were on the market for an average of 25 days, down from 30 in November.
December’s median sales price was $722,000, the highest it has ever been in Livermore. The previous high was May’s $715,000. December’s median sales price was 7% higher than November’s and 20% higher than a year ago, when it was $601,000. On the other hand, the price per square foot fell 6%, from $403 in November to $380 in December. While that was higher than a year ago, it was the lowest level in five months. The average sale was for 99% of the list price in December, up from 97% in November.
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.