Livermore CA Homes for Sale | Livermore Market Update January 2016
If we didn’t just have December, January’s real estate market in Livermore would look worse than at any time in the past year. Both pending sales and inventory were lower than at any time during 2015, except for December. Uncertainty regarding the global economy, the election cycle and interest rates is making both buyers and sellers more cautious. As is generally the case here, the lower end of the market showed more strength in January than the high end where buyers were less aggressive.
Prices were pretty stable from December, with the median sales price unchanged at $715,000, which was 10% higher than January 2015’s $650,000. The sales price to list price ratio was also unchanged at 99%. The one indicator that was higher in January was the price per square foot, which came in at $434, $55 higher than December’s $379 and $42 higher than a year ago.
55 homes were actively listed at the end of January, five more than at the end of December but three less than at the end of January 2015. There was a good bump in pending sales in January, from 36 in December to 58, which was still, however, below January 2015’s 63 pending sales. Closed sales fell by more than half, from 89 in December to 44 in January. 59 sales closed a year earlier. On average, January’s sales were on the market an average of 34 days and sold for 99% of the average list price. That compares to 26 days and 99%, respectively, in December.
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 low 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.