Livermore CA Homes for Sale | Livermore Market Update November 2015
The real estate market in Livermore slowed sharply in November, with inventory falling by a third and pending sales declining 13% from October. That type of decline is not abnormal for this time of year. What was surprising was that inventory and sales fell below the levels of a year ago. While prices have remained steady, we did not see nearly as many multiple offers and the average sales price fell below 100% of the average list price for the second straight month.
73 properties were actively listed at the end of November, a third fewer than October’s 107 and down seven units from November 2014’s 80. November had 71 pending sales, 11 less than in October and six less than a year ago. Closed sales also fell even further than pending sales from 89 in October to 56 in November87 sales closed in November 2014. November’s sales were on the market an average of 29 days, changed little from 30 days in October and 37 a year earlier.
The median sales price increased 5% from $649,000 in October to $684,000 in November. November’s median was 11% higher than November 2014’s $618,000. The price per square foot was little changed at $393 from October’s $392, compared to $360 a year ago. The average sales price in November was 98% of the average list price, unchanged from October and slightly higher than a year ago (97%).
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.