Livermore CA Homes for Sale | Livermore Market Update November 2016
- Inventory continues to fall
- Less than a one month supply
- Pending sales declining also
- Prices flat-ish
Inventory down, sales down, prices holding – it must be late fall. All in all, a pretty typical November real estate market in Livermore. Demand remains healthy for prime properties that are priced right but buyers are less aggressive, even on the best homes. The low end of the market is where the action is with just over two weeks’ worth of inventory. Homes stayed on the market a little longer in November but the average sales continued to be for just under the list price.
Inventory continued the decline it has been on since July, falling 36%, from 107 homes at the end of July to 69 at the end of October. That compares to the 73 homes for sale a year ago. That left a 0.9 month supply on the market at the end of November versus October’s 1.2 months. Pending sales fell for the third straight month, this time by 13% to 77 units in November. 89 sales went pending in October and 75 in November 2015. 79 sales closed in November, down from 97 in October but higher than November 2015’s 63.
The median sales price in November was $682,000, down 3% from $700,000 in October and just ahead of November 2015’s $678,000. The price per square foot increased from $408 in October to $415 in November. On average, homes sold for 98% of their list price in November, unchanged from October and slightly higher than November 2015’s 97%. November’s average sales took 35 days, comparted to 29 days in October and 32 days a year ago.
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. Inventory is low and demand remains strong, 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 a few select properties, most other homes have to be priced strategically to get top dollar. More than ever, having a highly competent agent who knows the Livermore market will be critical to your success
Buyers: The current market is fairly balanced, especially compared to the previous few years. Prime properties are still getting a great deal of attention and even multiple offers on occasion. Being prepared to act quickly will be the key to getting the home you are looking for. 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.